Enforcement

Enforcement

Australian Bank Conduct Code to be Compulsory

By Editors | 28/03/2018

Code being considered by ASIC will be binding, with self-regulatory body given power to investigate misdemeanours and issue sanctions.

Enforcement

IPO Sponsors Still Deficient, says SFC

By Editors | 27/03/2018

Thematic review details deficiencies in standards of conduct, due diligence practices and internal systems and controls.

Securities / Derivatives

S.Korea to Introduce Mandatory Governance Disclosures

By Garima Chitkara | 26/03/2018

Large listed banks will be required to disclose corporate governance and internal controls starting 2019 based on norms to be released by FSC and KRX.

Enforcement

SSE Re-stocks Disciplinary Arsenal

By Editors | 26/03/2018

New documents give Shanghai exchange greater powers over trading members and investors.

Enforcement

UPDATED – Indian Banks Fall Victim to $342mn in Loan Frauds

By Editors | 23/03/2018

Jewellery chain falsified financial records to obtain 8.24 billion rupees in loans from 14 banks over 10 years; infrastructure firm defrauds 9-bank consortium of 13.94 billion rupees.

Enforcement

SFC Fines UBS Securities for Missing Client Consent Records

By Editors | 23/03/2018

The firm was only able to provide the regulator about half of the client consents for facilitation trades.

Enforcement

HK Risks Becoming Auditing Outcast – Report

By Editors | 22/03/2018

Head of Financial Reporting Council says overhaul of accountancy regulation will not meet international standards.

AML / KYC

New Zealand: $970mn Laundered Each Year

By Editors | 21/03/2018

Key facilitators for money laundering include shell companies and trusts, alternative banking platforms, trade based activities, real estate, casinos.

Enforcement

S.Korea Tax Authority Fines Brokers for ‘Borrowed Name’ Accounts

By Editors | 21/03/2018

Brokerages penalised for Samsung chief’s borrowed-name accounts will seek to recover money from the electronics giant.