Enforcement

Enforcement

US DOJ Proposes 50 Year Prison Term for FTX Founder

By Mark Johnston | 19/03/2024

Prosecutors proposed a 40-50 year prison term, $11bn fine and forfeiture for Sam Bankman-Fried, who faces sentencing on 28 March.

Enforcement

US SEC Fines Two Investment Advisers for AI Washing

By Editors | 19/03/2024

“Investment advisers should not mislead the public by saying they are using an AI model when they are not,” said the SEC’s Gary Gensler.

Enforcement

China: Police Take “Criminal Coercive Measures” Against Zhongzhi Execs

By Mark Johnston | 18/03/2024

A criminal probe against Zhonzhi  was launched in November 2023 after the company, which controls several asset and wealth management firms, said it was “severely insolvent”.

Enforcement

FSC Korea to Take Hana CEO DLF Case to Supreme Court

By Editors | 18/03/2024

The FSC has decided to appeal a High Court ruling that nullified a reprimand warning imposed on Hana Financial Group CEO Ham Young-joo in 2020.

Enforcement

CSRC Unveils New Policies for Boosting Stock Market Quality

By Manesh Samtani | 18/03/2024

The policies tighten the rules for IPO applicants, increase oversight of listed companies, and impose obligations on brokers and investment banks.

Enforcement

US DOJ Probes Adani Group Over Potential Bribery Allegations

By Mark Johnston | 18/03/2024

The latest probe delves into whether an Adani entity was involved in making payments to Indian officials for favourable outcomes on an energy project.

Enforcement

Hong Kong ICAC Charges CCB Banker for Taking Bribes

By Sanday Chongo Kabange | 17/03/2024

A former CCB Asia sales executive was charged for taking bribes to expedite the account opening process for six clients.

Enforcement

US Regulators Announce $350m Penalty for JPMorgan

By Editors | 15/03/2024

The action, taken to address trade surveillance deficiencies, requires the bank to seek regulatory approval to onboard any new trading venue.

Crypto / Digital Assets

SFC Issues Warning Against Crypto Products from Bybit

By Sanday Chongo Kabange | 15/03/2024

The warning refers to the Seychelles company Bybit Fintech Limited, and not the HK-incorporated Spark Fintech Limited, which has applied for an SFC licence.