Enforcement

Enforcement

US SEC Fines 9 Investment Advisors for Marketing Rule Violations

By Nithya Subramanian | 10/09/2024

The SEC imposed fines totalling $1.24mn after it found that nine firms issued advertisements with false or unsubstantiated claims.

AML / KYC

US Celebrities Received 1MDB Funds Worth $2.43m – Reports

By Nithya Subramanian | 10/09/2024

A Malaysian court heard that fugitive Jho Low transferred 1MDB money to Kim Kardashian and Pharrell Williams but the reasons are unknown.

Enforcement

APRA Seeks Court Order to Disqualify First Super Co-chair

By Thisanka Siripala | 10/09/2024

APRA alleges Micheal O’Connor failed to meet the required standards of care and diligence required of a prudent superannuation entity director.

Enforcement

Australia’s New Anti-Foreign Bribery Law Comes into Force

By Sanday Chongo Kabange | 10/09/2024

Under the new law, companies will be held directly liable for failure to prevent foreign bribery by employees, external contractors, agents and subsidiaries.

AML / KYC

France Releases Telegram CEO on €5m Bail and Conditions

By Manesh Samtani | 10/09/2024

Telegram modified its content moderation policies, allowing users to flag content in private and group chats that they believe is illegal, among other changes.

Enforcement

US SEC Charges 10 Firms for Breaking Whistleblower Protection Rule

By Nithya Subramanian | 10/09/2024

A broker-dealer, two investment advisers, and seven public companies used signed agreements to impede the reporting of misconduct to the SEC.

Enforcement

Singapore Arrests 14 for Offering Unlicensed Payment Services in Casinos

By Nithya Subramanian | 09/09/2024

Police seized over SGD 190,000 in casino chips and cash during a multi-agency enforcement operation at the Marina Bay Sands Casino.

Enforcement

HSBC Responsible Officer Disqualified Over MPF Referral Programme

By Sanday Chongo Kabange | 09/09/2024

The responsible officer was disqualified for 30 months for his role in recruiting unregistered personnel to refer MPF corporate clients to HSBC.

Enforcement

HKMA Suspends Ex-Hang Seng Bank Employee for Dishonest Conduct

By Sanday Chongo Kabange | 09/09/2024

The HKMA suspended a former Hang Seng Bank relevant individual for fabricating a client’s signature on a time deposit application form.