ENFORCEMENT

Enforcement

OFAC Announces Settlement with Nasdaq for Sanctions Violations

By Editors | 10/12/2023

Nasdaq’s Armenian subsidiary committed 151 apparent violations of sanctions on Iran before the violations were self-reported in 2014.

Enforcement

APRA Identifies Defective Cyber Controls at NGS Super

By Sanday Chongo Kabange | 08/12/2023

APRA said multiple reviews identified deficiencies in NGS’ compliance with its standards on information security.

Enforcement

Bangladesh Bank Releases New PCA Framework for Commercial Banks

By Ajoy K Das | 08/12/2023

To protect the interest of depositors and ensure proper management, banks will be placed under four categories based on NPLs and CRAR.

Crypto / Digital Assets

US Authorities Secure Guilty Plea from Crypto Founder

By Editors | 07/12/2023

Anatoly Legkodymov pleaded guilty to operating Hong Kong-registered Bitzlato as a money transmitting business that allowed criminals to launder illicit proceeds.

Enforcement

ASIC Fines Instinet Over ‘Set and Forget’ Compliance Culture

By Sanday Chongo Kabange | 07/12/2023

ASIC said Nomura subsidiary Instinet failed to provide clients with all necessary information about the operation of its crossing system.

Enforcement

Korea FSS Prepares for Fallout from Derivatives Losses

By Editors | 07/12/2023

Banks and brokers are expected to have to compensate investors for losses on HSCEI-linked derivatives when the products mature next year.

Uncategorised

HK SFC Adds Two New Suspicious VATPs on Alert List

By Sanday Chongo Kabange | 07/12/2023

The SFC has warned the public to be wary of two suspicious VATPs – HongKongDAO and BitCuped – and asked the police to block them.

AML / KYC

Canada’s FINTRAC Fines RBC for STR Filing Failures

By Editors | 06/12/2023

RBC failed to submit STRs in some cases, submitted some STRs incorrectly, and did not keep written policies and procedures up-to-date.

Enforcement

India: NFRA Has Overriding Powers Over ICAI, Tribunal Rules

By Ajoy K Das | 06/12/2023

The NCLAT also clarified that NFRA has retrospective jurisdiction to investigate and take necessary action if required even for periods prior to its creation in 2018.