Enforcement

AML / KYC

Non-EU Markets Regulators Seek Formal GDPR Exemptions – Report

By Manesh Samtani | 28/06/2018

New EU data privacy law could put cross-border investigations in jeopardy, leading non-EU regulators including Japan’s FSA and Hong Kong’s SFC to press for formal clarification on application of cross-border information sharing exemptions.

Enforcement

ASIC Signs Enhanced MoU on Cross Border Enforcement Cooperation

By Karen Chiu | 28/06/2018

Australia has become the sixth signatory to IOSCO’s enhanced framework for the cross-border cooperation and information sharing by securities regulators to combat technology-aided financial misconduct.

Capital / Liquidity

Deutsche Bank Pressures Tied to Regulatory Woes

By Peter Guy | 28/06/2018

It’s impossible to separate Deutsche Bank’s ongoing regulatory compliance shortcomings from its business exigencies. The recent and unusual censure from the Federal Reserve highlights the bank’s inexorable pressures.

Enforcement

Former Vietnamese Central Banker On Trial in $655mn Fraud Case

By Garima Chitkara | 27/06/2018

Former SBV deputy governor is being charged with dereliction of duty following a $655mn fraud case arising from government restructuring of weak public sector banks in 2013.

Capital / Liquidity

Audit Officials Find Illegal Lending at Chinese Banks

By Emma Zhou | 25/06/2018

ICBC, ABC and CITIC illegally extended loans to unqualified companies or industries, inflated the size of their deposits, engaged in illegal shadow-banking actives, and had shortcomings in their credit risk management.

AML / KYC

UPDATED – Japan Orders Six Crypto Exchanges to Improve AML Systems

By Garima Chitkara | 25/06/2018

FSA issued business improvement orders to six exchanges after it found lax AML processes during on-site inspections. Of the six targeted, BitFlyer has stopped taking on new clients until it makes changes to its client management processes.

Enforcement

Australian Court Ratifies CBA’s BBSW Settlement

By Manesh Samtani | 25/06/2018

CBA will pay a $A5m penalty, A$15m to a financial consumer protection fund, and $A5m towards ASIC’s litigation and investigation costs; bank also agreed to enter into enforceable undertaking with ASIC.

Capital / Liquidity

S. Korea Banks Face Loan Rate Manipulation Probe

By Manesh Samtani | 25/06/2018

FSS found thousands of irregularities in lending rate calculations including omission about income or collateral in credit evaluations, resulting in unfairly high lending rates.

Enforcement

Japan Scrutinises Crypto Exchanges, Industry Body to Release New Rules

By JP Reimann | 21/06/2018

FSA to issue business improvement orders on registered crypto exchanges; self-regulatory industry association to release new voluntary rules on 27 June.