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ENFORCEMENT
Crypto / Digital Assets
ASIC Punishes Fintech Firm for Misrepresenting Crypto Product
By Sanday Chongo Kabange | 28/09/2023
Bobbob and its sole director are prohibited from providing financial services to retail clients for 12 months and paid A$53,000 in penalties.
Enforcement
UPDATED – US DOJ Probes Possible Sanctions Violations at Credit Suisse, UBS – Report
By Editors | 28/09/2023
The DOJ has requested information about how Credit Suisse and UBS handled the accounts of sanctioned clients in recent years.
Enforcement
Australian Court Fines ANZ for Unlawful Credit Card Charges
By Sanday Chongo Kabange | 26/09/2023
ANZ was ordered to pay a A$15mn penalty, on top of A$8.3mn in remediation paid to over 186,000 credit card accounts.
Enforcement
Evergrade Subsidiary Hengda Group Under Investigation
By Editors | 26/09/2023
Due to the investigation, Evergrande is now no longer qualified to issue new notes that were supposed to form part of its restructuring plan.
Enforcement
Senior Nomura Banker Barred from Leaving China – Report
By Editors | 26/09/2023
The travel ban is said to be connected to a long-running investigation into two key executives of China Renaissance.
AML / KYC
US SEC Settles ESG Misstatements and AML Cases Against DWS
By Manesh Samtani | 26/09/2023
DWS said it stands by the ESG statements made in its financial disclosures and fund prospectuses and has already taken steps to address weaknesses.
Crypto / Digital Assets
India to Develop New Surveillance Tool for Crypto & Dark Web
By Manesh Samtani | 26/09/2023
The tool will also contain a comprehensive database of all known crypto exchanges worldwide, along with their contact information, for use in investigations.
Enforcement
US Court Jails Wildlife Trafficker for Rhino Horn Smuggling
By Mark Johnston | 25/09/2023
A Malaysian citizen who conspired to smuggle rhino horns worth USD 2.1 million has been jailed in the US.
Enforcement
Singapore Banks Ramp Up Scrutiny of Risky Customers – Reports
By Mark Johnston | 25/09/2023
Singapore banks are red-flagging, reviewing, restricting and/or closing accounts of customers from China, Vanuatu, Dominica, Cyprus, Cambodia, Turkey, and St Kitts and Nevis.
Enforcement
US SEC Fines Citadel Securities for Violating Short-Selling Rules
By Sanday Chongo Kabange | 24/09/2023
Citadel agreed to pay $7mn to settle charges that it incorrectly marked short sale orders as long sales, and vice versa, over a five year period.
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