Enforcement

Two Convicted in Singapore’s Largest-ever Market Manipulation Case

06/05/2022

Two individuals were convicted on 349 charges for controlling and using 187 trading accounts to manipulate three penny stocks before they collapsed in October 2013.

AML / KYC

Central African Republic Adopts Bitcoin as Legal Tender

06/05/2022

The adoption of Bitcoin as legal tender is expected to make transactions in CAR easier, but the move is seen as part of a power struggle between Russia and France.

Enforcement

Australian Court Penalises RI Advice Over Cybersecurity Failures

06/05/2022

The ruling is the first of its kind in Australia, and follows cyber incidents that occurred at authorised representatives of RI Advice between 2014 and 2020.

Fintech / Regtech

J5 Publishes Red Flag Indicators to Address NFT Risks

05/05/2022

Tax enforcement agencies provide a list of account and transaction attributes from NFT marketplaces that may indicate fraud or other illicit activity.

Big Picture

DTCC Calls for Greater Scrutiny of Interconnectedness Risks

05/05/2022

Interconnectedness, while providing benefits, poses certain risks that need to be recognised and analysed to guard against system-wide vulnerabilities, DTCC says.

Securities / Derivatives

BSEC to Encourage Brokerage Firms to Launch IPOs

05/05/2022

Brokerage firms that are allowed to issue IPOs will be able to increase investment flows to the market and enhance their monitoring, BSEC said.

AML / KYC

NYDFS Issues Guidance Recommending Use of Blockchain Analytics

05/05/2022

The guidance emphasises the importance of blockchain analytics in conducting due diligence, transaction monitoring and sanctions screening.

US Fed Announces Biggest Rate Increase Since 2000

05/05/2022

The Federal Reserve has also outlined plans to shrink its USD 9 trillion balance sheet in phases, starting in June.

AML / KYC

European Commission Proposes Complete Ban on Russian Oil

05/05/2022

Three more Russian banks will be removed from SWIFT, three broadcasters will be blocked, and more military officers and individuals will be sanctioned.