Enforcement

Sanctions

US Seizes Private Jet Belonging to Venezuelan President

By Editors | 04/09/2024

The DOJ said the jet was illegally purchased in the US and then smuggled to Venezuela, in violation of US export control and sanctions laws.

Enforcement

MAS Bans Former RHB Securities Representative for False Trading

By Nithya Subramanian | 04/09/2024

A five-year PO was issued against a former representative of RHB Securities for manipulating Catalist-listed Koyo International.

Enforcement

US SEC Fines Six Rating Agencies for Record Keeping Violations

By Editors | 04/09/2024

Moody’s Investors Service and S&P Global Ratings agreed to pay $20mn, while Fitch Ratings will pay $8mn.

Securities / Derivatives

FINRA Fines BofA & Merrill Lynch $3m for Surveillance Failures

By Nithya Subramanian | 04/09/2024

FINRA said the parameters of the surveillance systems were set too narrowly, leading to failures to detect potentially manipulative trading.

AML / KYC

Indonesia Blocks Online Gamblers from Accessing Financial Services

By Nithya Subramanian | 03/09/2024

Over 6,000 accounts have been blocked to prevent online gamblers from accessing financial services and “create a deterrent effect”.

AML / KYC

Singapore Proposes Law to Empower Police to Stop Scams

By Nithya Subramanian | 03/09/2024

The proposed law will allow police to restrict banking transactions for victims who refuse to believe they are being scammed.

Enforcement

Korean Regulators Intensify Scrutiny of Woori Bank, Affiliates

By Manesh Samtani | 03/09/2024

The FSS suspects that Woori intentionally covered up unfair loans granted to relatives of the group’s former chairman.

Enforcement

SFC Imposes Lifetime Ban on Former UBS Associate Director

By Sanday Chongo Kabange | 03/09/2024

The former associate director was banned for life following his conviction for laundering $1.8mn that he stole from UBS.

Enforcement

Korean Courts Overturn Two FSC Penalty Decisions

By Editors | 03/09/2024

A KRW 669.1 million fine against Shinhan Investment Corp and a KRW 1 billion fine against Kepler Cheuvreux were overturned.