Crypto / Digital Assets

Korean Authorities Arrest Three Over Alleged Crypto Fraud

07/02/2024

Three executives of crypto platform Haru Invest were arrested for failing to return KRW 1.1 trillion worth of crypto to investors.

Enforcement

US SEC Settles Charges Against China-Based Firm With No Penalty

07/02/2024

The firm self-reported its violations, provided “substantial cooperation” to SEC staff, and undertook prompt remedial measures.

Enforcement

Hong Kong: Ex-Stanchart Banker Jailed Over Insurance Fraud

06/02/2024

A former Standard Chartered Bank insurance specialist has been jailed for 20 months for premeditating a scam involving two clients and breaching the trust placed in him.

Enforcement

SFC Fines PICC Asset Management for Fund Management Failures

06/02/2024

The SFC penalised PICC Asset Management for failing to discharge duties as the manager of a Cayman-incorporated fund.

Crypto / Digital Assets

Hong Kong PCPD Warns Against Worldcoin’s Free Crypto Offer

05/02/2024

The PCPD raided six premises of the Worldcoin project in Hong Kong, saying the city’s privacy law may have been breached.

Australia: Enforcement of New FAR Regime to Be Delayed

05/02/2024

APRA and ASIC acknowledged that banks may need more time to comply with some FAR requirements due to delays finalising some rules.

Market Infrastructure

APRA Outlines Supervision and Policy Priorities for H1 2024

01/02/2024

APRA’s priorities will include operational and cyber resilience, and embedding lessons from last year’s banking turmoil, among other areas.

Enforcement

Westpac Fined A$9.8m for 2016 Pre-Hedging Case

31/01/2024

Westpac will pay the maximum penalty of A$1.8mn allowed in 2016 for unconscionable conduct and another A$8mn for ASIC’s costs.

Fintech / Regtech

HKMA, BOT to Enhance Cross-border Collaboration

31/01/2024

HKMA and BOT will explore the use of local currencies in cross-border trade and collaboration in financial digitalisation, fintech, and sustainable finance.