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Regulatory Watch News

  • Slovenia: Council of Europe’s anti-corruption body GRECO closes monitoring round

    GRECO

    The Council of Europe’s Group of States against Corruption (GRECO), has closed its 5th evaluation round concerning Slovenia, in light of the progress achieved in implementing recommendations on preventing corruption within top executive functions in central government and law enforcement agencies. In a report published today, GRECO concludes that Slovenia has satisfactorily implemented or dealt with in a satisfactory manner 12 of the 15 recommendations addressed by GRECO to Slovenia in the Evaluation Report adopted in 2017. Three recommendations remain partly implemented, notably in areas related to financial transparency and oversight.

  • SFC obtains disqualification orders against former directors of China Candy Holdings Limited

    Securities and Futures Commission

    The Securities and Futures Commission (SFC) has obtained disqualification orders with durations of up to 33 months in the Court of First Instance against four former directors of China Candy Holdings Limited (China Candy) over their negligence in failing to uncover the overstatements in the company’s financial records and in discharging their duties as directors . The four former directors of China Candy named in the SFC’s legal proceedings are: Ms Li Yuna and Ms Yvonne Hung, former executive directors and chairpersons; Mr Fangus Chu Wai Wa and Mr Ong King Keung, former independent non-executive directors .

  • Administrative monetary penalties: Changes following legislative amendments

    FINTRAC

    FINTRAC has had the legislative authority to issue administrative monetary penalties to reporting entities that are in non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and associated Regulations since December 30, 2008. The Strengthening Canada’s Immigration System and Borders Act (Bill C-12), which received Royal Assent on March 26, 2026, introduces a new administrative monetary penalties framework under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

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