Enforcement

Enforcement

ASIC Warns Against “Unscrupulous” Cold Calling Conduct

By Sanday Chongo Kabange | 08/05/2024

ASIC is concerned about the use of high-pressure sales tactics to induce inappropriate superannuation switching.

AML / KYC

MAS Fines Swiss-Asia Financial Services for AML Breaches

By Nithya Subramanian | 08/05/2024

The CEO and COO were also reprimanded for failing to ensure compliance with the AML/CFT requirements.

AML / KYC

Authorities Charge Russian Leader of Cybercrime Group LockBit

By Manesh Samtani | 08/05/2024

US prosecutors unsealed 26 charges against Dmitry Khoroshev, who is now also sanctioned by the US, UK and Australia.

Enforcement

Korea’s Naked Short Selling Probe Has Reached 14 Banks

By Editors | 07/05/2024

Two banks already face penalties. The FSS will review penalties for seven others. Five more are still being probed.

Enforcement

BNM Publishes Document Detailing its Enforcement Approach

By Sanday Chongo Kabange | 07/05/2024

BNM says increased transparency should “foster confidence” in its role as a regulator and supervisor.

Enforcement

CFTC Publishes Report on Responsible AI in Markets

By Manesh Samtani | 07/05/2024

The report offers five recommendations on how the CFTC should safeguard financial markets from AI-related risks.

AML / KYC

US Prosecutors Secure Guilty Plea from Ex BTC-e Operator

By Editors | 06/05/2024

Alexander Vinnik was facing up to 55 years in prison, but due to a plea bargain he is expected to receive a prison term of less than ten years.

ESG / Sustainability

ASIC Has Greenwashing “In Its Sights”, Says Chair Joe Longo

By Nithya Subramanian | 06/05/2024

Joe Longo said ASIC will take action when there’s an “unreasonable lack of diligence” or “carelessness” by regulated entities that “should know better”.

Enforcement

Korea FSS Set to Issue Interim Findings from Short Selling Probe

By Sanday Chongo Kabange | 05/05/2024

Ten global investment banks including Nomura and Credit Suisse are expected to face fines totalling more than $73.7mn.