HALISTER1: Mega May Face U.S. Federal Enforcement Actions, Possible Fines

Mega May Face U.S. Federal Enforcement Actions, Possible Fines

(Bloomberg) -- Federal govt may follow New York state with enforcement actions and possible fines for Mega bank’s anti-money laundering violations, Deputy Finance Minister Su Jain-rong said at a press briefing in Taipei.
  • Cross-ministry task force in Taiwan will review information related to Mega’s US violations, to review relevant client information: Su in response to a question
  • Other Taiwan state-backed banks passed most recent US anti- money laundering scrutiny satisfactorily; no other banking fines expected: Su
  • Finance ministry to probe whether Mega’s board withheld information
  • NOTE: Bank linked to ‘Panama Papers’ firm fined $180m by New York Link
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
2886 TT (Mega Financial Holding Co Ltd)

People
Su Jain-Rong (Taiwan)

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