- China’s Minsheng Bank Sees Investor Trust Vanish – Along With 3B Yuan:
The disappearance of 3 billion yuan (US$436 million) from China Minsheng Bank’s private banking accounts has once again highlighted Chinese banks’ weak internal controls and the risks associated with the sale of so-called “innovative” wealth-management products on the mainland.
- Assistant Chairman Of China Banking Regulatory Commission, Yang Jiacai, Reported To Be ‘Out Of Contact’:
Yang made last public appearance a week ago, during which he introduced some heavy-handed regulatory moves planned by the CBRC.
3. Hong Kong Watchdog To Tighten Cybersecurity At Brokers After Hackers Steal HK$110m Over 18 Months:
Market watchdog will also ease rules to make it easier for foreigners and mainlanders to open accounts with the 500 brokers in Hong Kong.
- Hong Kong’s SFC Warns Investors On Three Unregulated Investment Providers:
The SFC routinely warns about such entities and scams operating in Hong Kong, one of the Asia’s paramount financial markets.
- HK Watchdog Fines Investment Firm For AML Breaches:
Hong Kong’s securities watchdog has fined and reprimanded an investment adviser for allegedly failing to adhere to anti-money laundering policies while processing third-party fund transfers.
- Ex-Chinese Legislator Lands In Jail For Bribery:
A former Senior legislator in northeast China’s Heilongjiang Province was on Thursday sentenced to 14 years in prison for accepting bribes.
7. Interpol ‘Red Notice’ Issued For Overseas Chinese Property Tycoon:
China said on Wednesday that an Interpol “red notice” has been issued for the arrest of billionaire and critic of the ruling Chinese Communist Party Guo Wengui.
- Brazil Construction Firm Ordered To Pay $2.6B In Bribe Case:
Brazilian construction conglomerate Odebrecht was ordered on Monday to pay $2.6 billion in fines to settle charges it bribed officials in a dozen countries.
- Ousted Leader Park Charged With Bribery:
More South Korea’s ousted President Park Geun Hye corruption scandal.
10. Korea’s Lotte Group Boss Charged With Bribery:
South Korean prosecutors have arrested and charged Shin Dong-bin, chairman of Lotte.
- Trial Against Former President Of China Telecom, China Unicom Starts:
A court in northern China on Tuesday began a trial against a former president of state telecommunications companies China Telecom and China Unicom, who was accused of accepting bribes, the official Xinhua news agency reported.