Enforcement

Enforcement

Senate Passes Bill Empowering ASIC to Pursue Harsher Penalties

By Editors | 15/02/2019

The bill increases the maximum prison penalties ASIC can pursue to 15 years, and raises the caps on civil penalties for individuals and corporations.

Enforcement

US SEC Charges Deloitte Japan for Auditor Independence Violations

By Editors | 14/02/2019

Deloitte Japan agreed to pay $2mn to settle charges related to audit reports it issued while dozens of its employees maintained financial relationships with the audit client.

Enforcement

Sydney Deutsche Bank Trader Convicted for Falsifying Trades

By Editors | 13/02/2019

A former FX options and futures trader has received a 2-year suspended sentence for falsifying entries in Deutsche Bank’s internal records.

Enforcement

UPDATED – Multiple Indian Banks Penalised for Rule Violations

By Editors | 13/02/2019

The latest penalties involve banks’ non-compliance with RBI directions on the monitoring of borrowers’ end use of loan funds, as well as failures related to KYC/AML compliance.

AML / KYC

China Toughens Penalties for Underground Banks

By Editors | 12/02/2019

Operators of underground banks engaging in illegal forex trading and cross border transfers will face up to 5 years imprisonment, more in the most serious cases.

Enforcement

APRA Issues Update on Implementation of Hayne Recommendations

By Editors | 11/02/2019

APRA details the work already underway to implement the Recommendations and confirms it is examining the 12 matters referred by the Royal Commission.

Enforcement

NAB Chief Steps Down Amid Royal Commission Criticism

By Editors | 07/02/2019

Commissioner Hayne said in his Final Report that NAB “stands apart” from the other major banks and questioned whether its senior leadership was capable of reforming the bank’s culture.

Enforcement

SEBI Directs Exchanges to Check Volatile Stocks for Manipulation

By Editors | 07/02/2019

SEBI has asked the BSE and NSE to boost intra-day surveillance to check unusually volatile stocks for possible manipulation.

Enforcement

Royal Commission Final Report Packs a Powerful Punch

By Matthew Chan | 04/02/2019

The Final Report on Australia’s Royal Commission packs a swift and powerful punch which may well be felt for some time, says public policy specialist Matthew Chan.