Enforcement

Enforcement

UK FCA Queries Banks About Staff Messaging Practices

By Editors | 12/10/2022

The queries come after US regulators collected over $2bn in combined penalties from firms for failures to maintain, preserve, or produce staff communication records.

AML / KYC

Singapore Punishes Ex-BSI Banker Over 1MDB Failings

By Sanday Chongo Kabange | 11/10/2022

BSI Singapore’s former head of private banking contributed to the bank’s failure to file STRs for 1MDB-related transactions when there were reasonable grounds to do so.

AML / KYC

US Targets Fuel Procurement Network in Latest DPRK Sanctions

By Editors | 11/10/2022

The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.

AML / KYC

US Says Hong Kong Risks Becoming Haven for Sanctioned Russians

By Editors | 11/10/2022

The warning came days after Hong Kong indicated it would not pursue action against a superyacht owned by a sanctioned Russian oligarch that docked in the city.

Enforcement

SEBI Cancels Rating Agency Licence for the First Time

By Editors | 10/10/2022

Brickwork Ratings India failed to exercise proper skill, care and diligence while discharging its duties as a credit rating agency, SEBI said.

Enforcement

Korea May Start Naming Foreign Firms Engaged in Illegal Short-Selling

By Editors | 09/10/2022

Local securities firms are required to notify investors if they are fined for violating short selling-related rules, but this is not the case for foreign investors.

Enforcement

FSA Bars SMBC Nikko from Block Trades for 3 Months

By Editors | 09/10/2022

SMBC Nikko Securities was also found to have shared confidential information of several corporate clients without their consent with its parent’s banking unit.

Enforcement

New Zealand: Conduct Issues Result in Remediation Worth NZ$150m

By Editors | 08/10/2022

Conduct issues in the life insurance and banking sectors resulted in over NZD 43 million and NZD 109 million in customer remediation, respectively.

Enforcement

HK Court Orders Founder to Buy Shares from Wronged Investors

By Editors | 07/10/2022

The order is the first made to require a listed company executive to buy shares held by other investors “at a price to be determined by the court”.