Enforcement

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.

Sanctions

Russia Closer to Allow Digital Assets in International Settlements

By Editors | 28/02/2024

Approval of draft legislation by Russian lawmakers comes amid threats that the US would sanction third-country FIs that facilitate trade with Russia.

Enforcement

SFC Launches Proceedings Against Ex-Chairman of Ding Yi Feng

By Sanday Chongo Kabange | 27/02/2024

The SFC is seeking orders requiring the former chairman and 20 others to compensate investors for losses suffered as a result of a 2018 price manipulation scheme.

Crypto / Digital Assets

Crypto Firm Kraken Files Motion to Dismiss SEC Lawsuit

By Mark Johnston | 27/02/2024

Kraken argues that the SEC has no authority over its operations as the cryptocurrencies it offers are not securities or investment contracts.

Enforcement

Korea FSS Seeks Max Penalties for Alleged Fraud by Kakao Unit

By Mark Johnston | 27/02/2024

The FSS has issued a preliminary notice to Kakao Mobility, accusing it of inflating its revenue and engaging in accounting fraud.