All posts tagged "Internal controls"
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59ChinaCBIRC Evaluates Corporate Governance at Non-bank Institutions
Some financial leasing, enterprise group finance, auto finance, and consumer finance companies have been unwilling or unable to enhance governance and internal controls.
February 8, 2021 -
242AML / KYCPBOC, SAFE Issue AML Guidelines for Cross-border Business
The guidelines apply to cross-border activities using domestic or foreign currencies, as well as domestic activities using foreign currencies.
February 7, 2021 -
108EnforcementFSC Penalises Citibank Taiwan Over Reporting Errors
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
February 5, 2021 -
134Australia & NZASIC Governance Review Clears Chairman of Wrongdoing
James Shipton has temporarily returned to his role as chair, but will step down in the coming months. Treasury will search for a new chairperson.
February 2, 2021 -
166ChinaNew Rules for Private Equity Funds Take Effect in China
The rules prohibit the use of private equity funds as vehicles for public fundraising, explicitly allowing them to only be offered to qualified investors.
January 14, 2021 -
176ChinaNAFMII Identifies Regulatory Breaches at Haitong Securities
The breaches have been reported to the PBOC and CSRC, which are likely to issue penalties to Haitong Securities and its subsidiaries.
January 14, 2021 -
201AML / KYCDeutsche Bank to Pay $130m to Resolve FCPA Violations, Fraud Charges
The bank’s employees and agents concealed bribes paid to obtain and maintain lucrative business in Saudi Arabia, Abu Dhabi, Italy and China.
January 12, 2021 -
188EnforcementFSS Korea to Probe Samsung Securities for Regulatory Violations
The FSS will look into whether loans granted to executives violated the capital market law and whether the firm influenced a merger involving one of its subsidiaries.
January 11, 2021 -
127China
CBIRC to Allow WMPs to Be Sold Through Bank Channels
Under draft rules, banks that absorb public deposits are allowed to act as agents to sell wealth management products issued by wealth management subsidiaries.
January 5, 2021 -
327AML / KYC
PBOC Revises AML Rules to Enhance Supervisory Scope
With continuous innovation in the financial sector and the emergence of new types of financial businesses, it is necessary to improve the scope of AML supervision, the PBOC says.
January 2, 2021
