ENFORCEMENT

Sanctions

US Authorities Explain Sanctions Obligations of Non-US Persons

By Manesh Samtani | 07/03/2024

DOJ, OFAC, and Commerce Department explain their enforcement authority and provide examples of actions already taken against non-US-based parties.

Enforcement

ASIC Issues First Ever Penalty Against Market Operator

By Sanday Chongo Kabange | 07/03/2024

ASX has paid A$1.05mn for a pre-trade transparency failure caused by “carelessness rather than recklessness or intentional misconduct”.

Crypto / Digital Assets

US SEC Secures $275,000 Settlement from Crypto Firm ShapeShift

By Editors | 07/03/2024

SEC Commissioners Hester Peirce and Mark Uyeda issued a joint statement expressing disagreement with the enforcement action.

Enforcement

RBI Imposes Business Restrictions on IIFL Finance Limited

By Ajoy K Das | 07/03/2024

IIFL Finance provided customers gold loans in excess of the statutory LTV limit, among several other supervisory concerns.

AML / KYC

AUSTRAC Launches AML Probe Into Gambling Company Bet365

By Sanday Chongo Kabange | 07/03/2024

The probe follows a Nov 2022 order from AUSTRAC requiring Bet365 to appoint an external auditor to assess AML/CTF compliance.

Crypto / Digital Assets

Montenegro Court Halts Extradition of Terra’s Do Kwon to US

By Sanday Chongo Kabange | 06/03/2024

Do Kwon’s case will be retried because of procedural issues over who between the US and South Korea was first to request his extradition.

Enforcement

SFC, HKEX Jointly Take Action Against GEM-Listed Firm

By Sanday Chongo Kabange | 06/03/2024

Two former directors misappropriated assets by paying an IPO consultant who subsequently rerouted the funds back to the directors.

Enforcement

RBI Imposes Restrictions on Systemically Important NBFC

By Ajoy K Das | 06/03/2024

The RBI said JM Financial Products “repeatedly” helped customers bid for IPO and NCD offerings using loaned funds, in violation of the regulations.

Enforcement

Coal Miner Challenges Australia Sanctions Regime in Court

By Editors | 05/03/2024

Tigers Realm Coal produces coal in Russia but does not directly export it. DFAT alleges breach of sanctions, which Tigers Realm has challenged.