Enforcement

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    Enforcement

    ASIC Issues First Stop Order Targeting Crowdfunding Campaign

    By Sanday Chongo Kabange | 13/06/2024

    ASIC issued an interim stop order against a crowd-sourced funding campaign because of its use of a nominee arrangement.

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    Enforcement

    US Authorities Arrest Two for Illegal Russia Export Scheme

    By Editors | 13/06/2024

    The two men engaged in a scheme to covertly sell snowmobiles to Russia through an intermediary company in Hong Kong.

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    Enforcement

    Korea’s Woori Bank Discovers Another Embezzlement Case – Report

    By Editors | 13/06/2024

    An employee at one of Woori’s branches forged documents related to loans and deposits to embezzle funds that were used to invest overseas.

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    Crypto / Digital Assets

    Thailand Revokes Crypto Licence Due to Regulatory Failures

    By Nithya Subramanian | 12/06/2024

    The SEC said the Minister of Finance has agreed to revoke Zipmex’s digital asset business licence to prevent damage to customers.

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    Enforcement

    Shanghai Chipmaker Barred from Launching IPO for 5yrs

    By Editors | 12/06/2024

    The company, already penalised for inflating its 2020 profits, is now barred from listing its shares for five years.

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    Enforcement

    Industry Body Sues US SEC for Records on WhatsApp Probe

    By Editors | 11/06/2024

    The American Securities Association seeks to force the SEC to disclose information that was considered when determining the penalties.

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    Enforcement

    Singapore Sentences 10th Individual in Money Laundering Case

    By Nithya Subramanian | 11/06/2024

    Su Jianfeng was sentenced to 17 months. Meanwhile, banks are tightening scrutiny of wealthy clients and providing additional training to staff.

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    Enforcement

    China: Four More Officials Facing Prosecution for Taking Bribes

    By Editors | 11/06/2024

    A former banking regulator and two other ex-officials from ICBC and Citic Group were found to have accepted bribes, the CCDI said.

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    AML / KYC

    TD Bank Facing $4bn in Fines for AML Violations – Report

    By Editors | 10/06/2024

    The amount is double previous estimates, prompted by the emergence of new bribery allegations against the bank.

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    Enforcement

    Former AllianzGI Fund Manager Pleads Guilty to Fraud

    By Editors | 10/06/2024

    Gregoire Tournant admitted to providing deceptive information to investors in AllianzGI’s now-defunct Structured Alpha funds.

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