Drawing from landmark penalties in 2020, FINTRAIL’s Payal Patel and Sara Abbasi identify key lessons to help financial institutions guard against financial crime.
January 20, 2021The FSC has revised the FSCMA enforcement decree as part of efforts to strengthen penalties for illegal short selling, as it prepares to lift a ban on short selling in March.
January 16, 2021Singapore’s money remittance sector poses the highest risk of being exploited for terrorism financing, followed by the banking sector.
January 12, 2021Foreign investors are required to seek approval for all investments in sensitive national security land or businesses (including starting such a business) regardless of value.
January 5, 2021The case relates to the August suicide of a former KGI Securities employee, who suffered large investment losses as a result of illegal futures trades for his clients.
December 31, 2020Extreme price volatility, profitability pressures, psychological stressors, remote working and aggressive advertising were some of the drivers of misconduct risk during the pandemic.
December 31, 2020The FSC will place new restrictions on market makers, revamp the rebate system, and set up a new monitoring system to detect illegal short selling activity.
December 22, 2020Star Compliance provides software that automates the detection of employee conflicts of interest and provides real-time insights to supervisors to guard against misconduct risk.
December 16, 2020Under a revision bill that could take effect by Q2, naked short sellers will face up to a year in jail or up to five times profits on a trade.
December 14, 2020The changes will make it easier for residents to invest overseas and hold foreign currency at local banks. ETFs tracking foreign securities will be allowed to list in Thailand.
November 26, 2020