Enforcement

AML / KYC

HSBC Switzerland to Pay $192mn to Settle US Tax Evasion Probe

By Editors | 12/12/2019

HSBC Switzerland has admitted to conspiring with US taxpayers to evade taxes and helping them to hide more than $1bn in assets from tax authorities.

Enforcement

Japan SESC Recommends $22mn Fine for Nissan Underreporting

By Editors | 11/12/2019

The fine would be Japan’s second-largest ever for false reporting on a corporate financial statement, after the 7.3 billion yen fine imposed on Toshiba in 2015.

Enforcement

Samsung Execs Jailed for Burying Evidence in Accounting Probe

By Editors | 11/12/2019

Employees were ordered to destroy and conceal internal documents, including by burying nearly two dozen computers and notebooks as well as computer servers beneath factory floors.

Enforcement

SEBI Bans Fidelity Trader and Family Members for Front-Running

By Editors | 10/12/2019

The trader used non-public information to front-run impending trades of Fidelity Group entities with his mother and sister’s trading accounts from Hong Kong.

Enforcement

Former CSRC Shandong Official Expelled from CCP For Graft

By Editors | 10/12/2019

Xu Tie was placed under investigation earlier this year, 6 years after his retirement from the Shandong bureau of the CSRC.

Enforcement

ASIC Files Criminal Charges Against Ex-APRA Manager for False Documents

By Editors | 06/12/2019

The former APRA senior manager has been criminally charged for providing false documents to the regulator while serving as CEO of a credit union.

Enforcement

Nomura Releases New Code of Conduct for Employees

By Editors | 05/12/2019

Nomura Holdings has released a 19-point code of conduct for its employees following information leaks that subjected the firm to regulatory action.

Crypto / Digital Assets

ASIC Takes Legal Action Against Unregistered SMSF Scheme Operators

By Editors | 05/12/2019

Investors were encouraged to roll superannuation monies into a self-managed super fund to invest – by way of a loan – in an unregistered scheme operated a former AMP adviser.

AML / KYC

Citi Sent 99pc of Westpac Transfers That Breached AUSTRAC Requirements

By Editors | 04/12/2019

Citi is not under investigation, though AUSTRAC has criticised the bank for not providing sufficient information about the payments and the source of funds.