Enforcement

Enforcement

Japan: Major Insurers Commit to Divesting Cross-Held Shares

By Editors | 03/03/2024

The insurers also imposed disciplinary measures against 132 executives and employees, including pay cuts, over a price-fixing scandal.

Enforcement

FSS Punishment of Hana CEO “Excessive”, Seoul Court Rules

By Editors | 03/03/2024

The Court directed the FSS to adjust the punishment, but ruled that Hana Bank’s six-month suspension for mis-selling risky funds was justified.

Crypto / Digital Assets

SFC Issues Guidance on Disciplinary Process Under Virtual Assets Regime

By Sanday Chongo Kabange | 01/03/2024

The guide describes the SFC’s process for taking disciplinary action, what such action can entail, and who can be subject to such action.

Crypto / Digital Assets

NYDFS Secures Return of $1.1bn to ‘Gemini Earn’ Investors

By Editors | 01/03/2024

Gemini Trust has committed to returning at least $1.1bn to customers who invested in its ‘Earn’ crypto lending programme.

Enforcement

SG Firm Allegedly Swindled JPY 135 Billion in Japan’s Largest Scam

By Nithya Subramanian | 01/03/2024

Sky Premium International has been accused of involvement in foreign exchange margin trading, labeled as an illegitimate “pyramid scheme”, wooing investors through a network of 570 salespeople.

Crypto / Digital Assets

ASIC Secures Orders Preventing Ex-Crypto Boss from Leaving Australia

By Sanday Chongo Kabange | 01/03/2024

ASIC is investigating former directors of Blockchain Global Limited over the A$50mn collapse of a crypto exchange they operated.

Enforcement

HK Retail Trader Convicted of Fraud Involving Naked Short Selling

By Sanday Chongo Kabange | 28/02/2024

This is the first criminal conviction in Hong Kong for securities fraud involving illegal short selling.

Enforcement

UK FCA Commits to Being More Transparent About Investigations

By Editors | 28/02/2024

The FCA pledges to be more proactive about announcing investigations and naming the firms involved, to improve deterrence.

Enforcement

ASIC Fines Melbourne Securities for Alleged Greenwashing

By Sanday Chongo Kabange | 28/02/2024

ASIC alleges that Melbourne Securities made misleading statements in its PDS regarding its Bloom Climate Impact Fund.