Enforcement

Enforcement

IA, HKMA Take Joint Enforcement Action Against Insurance Agent

By Sanday Chongo Kabange | 12/01/2024

The agent was suspended and fined for keeping gift vouchers that were intended to be given to clients as gifts.

Enforcement

Software Giant SAP to Pay Over $220m to Resolve FCPA Violations

By Editors | 12/01/2024

SAP paid bribes to government officials in South Africa, Indonesia, Malawi, Kenya, Tanzania, Ghana and Azerbaijan.

Crypto / Digital Assets

New Bill to Give MAS Greater Investigative Powers

By Nithya Subramanian | 11/01/2024

The proposed law broadens the regulator’s power over unregulated businesses and expands its oversight on key appointments and removals.

Enforcement

SFC Issues New Alert on Suspicious Real Estate Investment Products

By Sanday Chongo Kabange | 10/01/2024

The SFC has warned the public to be wary of Kaplink 006 Limited and Kaplink 007 Limited, involving real property development projects in Australia.

AML / KYC

SFC Sanctions Responsible Officer Over Licensee AML Compliance Failures

By Sanday Chongo Kabange | 10/01/2024

The SFC suspended Andy Wong Yeung for 10 months over his role in City International Futures’ AML compliance failures.

Enforcement

China to Prosecute Former Everbright Group Chairman

By Editors | 09/01/2024

Tang Shuangning became the second former chairman of China Everbright Group to be dismissed from the CCP in recent months.

Enforcement

Korea FSS Widens Probe into Sales of High Risk Derivatives

By Manesh Samtani | 09/01/2024

The FSS found that some firms incentivised sales of high-risk and complex ELS products through internal policies and KPIs.

Enforcement

Taiwan’s Shin Kong Bank Fined Over Misappropriated Client Funds

By Editors | 04/01/2024

The FSC said the bank failed to establish internal controls and prevent the misappropriation of client funds by a former wealth manager.

Crypto / Digital Assets

US Prosecutors Will Not Pursue Second Trial for FTX Founder

By Nithya Subramanian | 02/01/2024

The DOJ said a second trial to address additional charges against Sam Bankman-Fried would delay sentencing and provide no benefit to victims.