Enforcement

SEC Fines Goldman for Submitting Inaccurate Securities Trading Data

24/09/2023

Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.

Enforcement

FSS Korea Issues Warning Against Fisheries Cooperatives Federation

24/09/2023

The FSS management cautions and improvement requests to the National Federation of Fisheries Cooperatives for a failed overseas investment.

Market Infrastructure

OCBC Joins LCH SwapClear and HKEX’s OTC Clear

24/09/2023

Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.

Enforcement

Australia Court Fines NAB $1.3m for Overcharging Customers

23/09/2023

The penalty was the maximum allowed by legislation that existed at the time of the contravening conduct. The court said a penalty “several times” higher would have been more appropriate.

ASIC Postpones Financial Adviser Registration to 2024

22/09/2023

The financial adviser registration requirement was initially due to commence in January 2023. This is now the third extension.

Crypto / Digital Assets

SFC Confirms Crypto Firm JPEX Never Approached it About Licensing

22/09/2023

JPEX breached the SFO and AMLO by publishing confidential correspondence with the SFC. Three more arrests have been made.

Enforcement

ASIC Fines Interactive Brokers Over Client’s Suspicious Trading

21/09/2023

ASIC said the firm was ‘negligent’ in its failure to identify suspicious trading by a client and ‘reckless’ in continuing to allow further suspicious trading after ASIC raised concerns.

Enforcement

ASIC Sues Crypto Exchange for Margin Trading Product

21/09/2023

ASIC says Bit Trade did not comply with its design and distribution obligations when offering a margin trading product to Australian customers.

Enforcement

Australia Proposes Reforms After PwC Tax Leak Scandal

21/09/2023

Australia has commenced consultations on draft legislation to strengthening the integrity of the tax system and increasing the power of regulators.