Posted Friday April 17, 2015

Weekly roundup

Weekly roundup: Singapore introduces bill to enhance AML/CFT, Dubai Financial Services Authority fines Deutsche Bank, and more

  • A bill extending the Monetary Authority of Singapore’s (MAS) powers to include inspections of financial holding companies and card issuers has been introduced for its first reading in the Singapore Parliament.
  • The Securities and Exchange Board of India (Sebi) is expanding its surveillance and enforcement teams following the passing of a new securities law in August last year that strengthened its role.
  • In the first confirmed account of its kind, Chinese police reportedly have been sent to Australia to persuade a Chinese-born naturalised Australian citizen, to return to China to face bribery charges.
  • The Dubai Financial Services Authority (DFSA) has fined Deutsche Bank $8.4 million for failures in its client take-on and anti-money laundering processes.

And finally, the Financial Times argues that corruption is now a “high-stakes game” in Brazil, confirming a trend among emerging markets to prosecute corporate misbehaviour. As the Petrobras scandal indicates, the risk of prosecution has increased in Brazil. The newspaper suggests that multinationals operating in the country invest more in compliance reviews.

Arachnys weekly update

New sources: 55

Source of the week: The Romanian High Court of Cassation and Justice website allows searching by name of parties for court case snippets and case numbers.

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