Enforcement

AML / KYC

SFC Eases Uncertainty Over National Security Law – Report

By Editors | 09/11/2020

Implementing US sanctions is unlikely to be considered a breach of the national security law. The SFC has dropped a plan to force cloud providers to share client data.

Enforcement

Second Ex-Chairman of Hengfeng Bank Gets Death Sentence

By Editors | 08/11/2020

The former chairman will have his sentence commuted to life in prison if he commits no further crime over the next two years.

Enforcement

SC Malaysia Wins MYR 3.1m in Insider Trading Case

By Sanday Chongo Kabange | 05/11/2020

The former senior partner of a law firm acquired shares in Worldwide Holdings in the months leading up to an announcement that the firm would be privatised.

Fintech / Regtech

MAS Targets Market Abuse, Misconduct, AML Control Breaches

By Editors | 04/11/2020

In its latest enforcement report, MAS highlights its work to strengthen early detection of market misconduct, including through Apollo, an augmented intelligence system.

Enforcement

New Zealand FMA Proposes New Guidance on KiwiSaver Fees

By Editors | 04/11/2020

The proposed guidance sets out ongoing obligations for KiwiSaver schemes to regularly review their fees to ensure members not being charged unreasonable fees.

Enforcement

BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA

By Editors | 04/11/2020

ESMA says it identified deficiencies, inefficiencies and legal and procedural impediments in the supervisory response to Wirecard between 2016 and 2018.

Enforcement

ASIC Secures A$10m in Refunds for Customers from Allianz

By Sanday Chongo Kabange | 04/11/2020

Up to 31,000 consumers have been remediated for misconduct relating to the sale of travel insurance through Allianz’s own website and those of its partners.

Enforcement

Korean Prosecutors Raid Brokerage Firms Over Lime Asset Mis-selling

By Shruti Khairnar | 02/11/2020

Investigators from Seoul’s prosecution office raided the headquarters of Shinhan Investment Corp, Korea Investment & Securities, and KB Securities last week.

Enforcement

KRX Probes Market Makers’ Compliance With Short Selling Rules

By Editors | 02/11/2020

The inspection will cover all 22 market makers, focusing on whether they conducted naked short selling and whether they violated the uptick rule.