Enforcement

AML / KYC

Myanmar Junta Targets Privately Owned Yoma Bank and CEO

By Editors | 22/06/2024

Yoma Bank and its CEO are being investigated by the military junta for transferring assets to Thailand and offering financing for overseas real estate purchases.

Enforcement

Hong Kong SFC Suspends Ex-PICC Investment Manager

By Sanday Chongo Kabange | 21/06/2024

The former investment manager failed to properly manage the risks of the fund, including liquidity and concentration risks.

AML / KYC

FinCEN Issues Advisory to Aid Detection of Fentanyl Trafficking

By Editors | 21/06/2024

The advisory says FIs should look out for counterparties that are chemical or pharmaceutical companies in China, Hong Kong, or other jurisdictions, especially if they use shared addresses.

Enforcement

ASIC Fines Ascot Securities for Failure to Detect Suspicious Trades 

By Editors | 21/06/2024

Ascot Securities should have suspected a client’s orders were manipulative, ASIC’s Markets Disciplinary Panel said.

ESG / Sustainability

UK FCA Opens First Climate-related Enforcement Investigation

By ESG Investor | 21/06/2024

The FCA revealed the existence of the enforcement investigation to environmental law charity ClientEarth in response to a Freedom of Information request.

Securities / Derivatives

SEBI Extends Ban on JM Financial to One Year

By Ajoy K Das | 21/06/2024

SEBI initially barred JM Financial in March from acting as lead manager for any new public issue of debt for 60 days. The ban is extended until 31 March 2025.

Enforcement

Fractional Real Estate Sales Halted by Vietnam Regulator

By Mark Johnston | 19/06/2024

The SSC has halted fractional real estate sales in Vietnam by a securities firm, citing a lack of specific regulations and investor safety concerns.

AML / KYC

US Uncovers Drug Cartel Alliance With Chinese Money Launderers

By Editors | 19/06/2024

US authorities uncovered a partnership between Mexico’s Sinaloa Cartel and a Chinese underground money laundering syndicate.

Crypto / Digital Assets

Indian Court Rules Crypto Dealings Are Not Illegal

By Ajoy K Das | 19/06/2024

The court said that mere dealing in cryptocurrency “cannot be treated as illegal in any manner” as existing financial laws do not define it as ‘money’.