Enforcement

Crypto / Digital Assets

CFTC Fines Crypto Firm FalconX $1.8m for Failure to Register

By Editors | 14/05/2024

FalconX allowed US customers to trade in crypto derivatives without registering as a futures commission merchant.

Enforcement

Australian Court Dismisses Class Action Against CBA

By Editors | 14/05/2024

The class action alleged that CBA failed to disclose its AML contraventions for several years before it was eventually fined A$700m in 2018.

Enforcement

Singapore: Next Phase of FSMA Implementation Has Commenced

By Editors | 14/05/2024

MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

Enforcement

ASIC Probes ANZ Over Treasury Bond Issuance

By Sanday Chongo Kabange | 14/05/2024

ASIC suspects ANZ breached the law while serving as a risk manager for a government bond issuance last year.

Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

By Editors | 14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Enforcement

FSS Korea Finds Misconduct at Real Estate Trust Companies

By Editors | 13/05/2024

The FSS found extortion of real estate developers, and other misconduct. The cases will be referred to investigative agencies.

AML / KYC

Singapore Jeweller Charged for Not Performing CDD Checks

By Nithya Subramanian | 13/05/2024

The jeweller failed to undertake customer due diligence checks when there was reason to suspect money laundering.

Enforcement

ICBC, Bank of China Execs Facing Corruption Prosecutions

By Editors | 13/05/2024

New corruption investigations also launched against former officials from the NFRA, CCB and China Development Bank.

Enforcement

Singapore Court Convicts Hin Leong Founder for Cheating HSBC

By Nithya Subramanian | 13/05/2024

Lim Oon Kuin was convicted of cheating HSBC and abetting forgery. He will be sentenced in October.