Enforcement

Enforcement

US SEC Fines Deutsche Bank $16m for Corrupt Hiring Practices

By Editors | 27/08/2019

Between 2006 and 2014, Deutsche Bank hired relatives of executives of Chinese and Russian state-owned enterprises to generate business for the bank.

Enforcement

NAB Faces Potential A$535 Penalty for Using Unlicensed Loan Referrers

By Editors | 26/08/2019

ASIC has initiated federal court proceedings in relation to misconduct by 16 NAB bankers who accepted loan information and documentation from unlicensed introducers.

Enforcement

AMAC Targets Illegal Fundraising by Fund Managers

By Editors | 25/08/2019

Some managers of privately-offered funds are using capital intended for specific investments on themselves or to illegally operate P2P lending businesses.

Enforcement

SEBI Targets Insider Trading with Informant Reward Mechanism

By Editors | 22/08/2019

Whistleblowers will be eligible for rewards up to $139,000 and, if culpable themselves, for amnesty or settlement with SEBI.

AML / KYC

Australia Introduces Bill to Criminalise Cash Payments Over A$10,000

By Editors | 22/08/2019

Under the proposed law, Australians would face up to two years’ jail and A$25,200 in fines if cash transactions between business and individuals exceed A$10,000.

Enforcement

Former NAB Branch Manager Pleads Guilty to Fraud

By Editors | 22/08/2019

The former branch manager has already received a permanent ban from ASIC for making false and misleading statements to NAB in relation to 24 home loan applications.

Enforcement

CSRC Fines Four Individuals for Spreading False News

By Editors | 22/08/2019

The individuals, including a news editor, were fined for spreading ‘fabricated’ news that the CSRC blames for stock market declines in late January.

Enforcement

HK Court Orders Confiscation of HK$1.46m from Former UBS Exec

By Editors | 21/08/2019

The case relates to the 2017 conviction of a former UBS associate director for accepting over HK$1.4mn in bribes from a Shenzhen-based client.

Enforcement

ASIC to Initiate Legal Proceedings Against Banks Within “Weeks”

By Editors | 20/08/2019

In addition to the 13 referrals from the royal commission, ASIC has been investigating “three times as many” case studies with a view to initiating legal proceedings in the new few weeks.