Enforcement

Enforcement

SFC Fines Brokerage for Breaching Financial Resources Rules

By Mark Johnston | 19/12/2023

Central Wealth Securities Investment made various accounting and calculation errors in its financial returns and had a liquid capital deficit for eight months.

ESG / Sustainability

ASIC Fines Northern Trust for Alleged Greenwashing

By Sanday Chongo Kabange | 19/12/2023

ASIC said Northern Trust was responsible for its statements, not the third party that incorrectly applied the exclusion screen specified.

Enforcement

Appellate Court Sets Aside SEBI Penalties Against NSE, Officials

By Ajoy K Das | 19/12/2023

The penalties were imposed in June 2022 over the alleged exploitation of NSE’s internet infrastructure by brokers for faster connectivity.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

Enforcement

Korea FSS Identifies Misconduct by Nine Securities Firms

By Editors | 19/12/2023

The securities firms and up to 30 managers were involved in selling investment assets amongst themselves to shift losses between customer accounts.

Enforcement

EU Leaders Agree on 12th Russia Sanctions Package

By Editors | 18/12/2023

The package includes additional import and export bans and measures to better enforce the oil price cap. Agreement also reached on criminalisation of sanctions violations.

Enforcement

Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch

By Editors | 18/12/2023

Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.

AML / KYC

HK Amends National Security Law to Facilitate Asset Freezes

By Editors | 15/12/2023

The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.

AML / KYC

US Congress Passes Foreign Extortion Prevention Act

By Editors | 15/12/2023

The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.