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Midweek Roundup: Former Chair of Mega Bank Charged with Money Laundering, Finra Fines Credit Suisse, and More
printTaiwan has charged McKinney Tsai, the former chairman of Mega International Commercial Bank, with accepting improper gains, money laundering, submitting false documents and insider trading after selling stock ahead of the bank's $180 million fine by the New York State Department of Financial Services, AFP reported. More The Financial Industry Regulatory Authority, or Finra, fined Credit Suisse's New York-based trading unit $16.5 million for failing to adequately screen customers and report suspicious transactions, The Wall Street Journal reported. More A proposed U.K. law would empower the U.K. Office of Financial Sanctions Implementation to fine sanctions violators and enforce U.N. restrictions...
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