Enforcement

Enforcement

CSRC Imposes Six-Month Business Restriction on GF Securities

By Editors | 09/08/2019

The CSRC cited risk management and control deficiencies as reasons for the restrictions, after a hedge fund set up by the broker reported losses of $139mn for 2018.

Enforcement

APRA Fines Westpac A$1.5mn for Late EFS Reporting

By Editors | 09/08/2019

Westpac and two of its subsidiaries were late in filing monthly and quarterly reports for APRA’s Economic and Financial Statistics programme.

AML / KYC

UN Report: North Korea Still Accessing International Financial System

By Editors | 09/08/2019

The report says North Korea has amassed $2bn from cyberattacks on banks and crypto exchanges, and that it has about 30 overseas representatives helping it evade sanctions.

Enforcement

CSRC Imposes $56mn Penalty on Individual for Insider Trading

By Editors | 08/08/2019

The individual learned of a gaming company’s acquisition plans months in advance and used 14 stock accounts set up by acquaintances to profit from the information.

Enforcement

ASIC Proposes Regulatory Guide on Whistleblower Policies

By Editors | 08/08/2019

Companies have to implement a whistleblower policy by January 2020. ASIC’s guidance explains how they should be established, implemented and maintained.

Enforcement

SGX RegCo to Boost Regulatory Presence, Oversight

By Manesh Samtani | 08/08/2019

At a regulatory briefing on Wednesday, SGX RegCo CEO Tan Boon Gin laid out the work ahead to enhance investor confidence and deter wrongdoing.

Enforcement

Westpac NZ Refunds 93,000 Customers for Incorrectly Charged Fees

By Editors | 07/08/2019

Westpac self-reported the incorrectly charged fees in December 2017, and has already completed a significant part of the work to reach and refund impacted customers.

Enforcement

RBI Issues Fines on Multiple Banks Totalling $2.9mn

By Editors | 06/08/2019

The fines, involving 15 banks in total, were related to delays in reporting fraud and non-compliance with various other RBI norms.

AML / KYC

MAS Targets Market Abuse with Proposed New Requirements

By Editors | 06/08/2019

Capital market licensees will have to record all client communications and capture their mobile device IDs. Foreign intermediaries will have to provide UBO information on request.