Enforcement

Enforcement

BNP Paribas Fined in Taiwan for Violating Insurance Regulations

By Editors | 22/01/2024

The FSC said BNP failed to fully separate its business units and outsourced information operations to the cloud without prior regulatory approval.

Enforcement

Australian Court Fines ME Bank for Misleading Home Loan Customers

By Editors | 19/01/2024

ME Bank sent inaccurate home loan information to its customers and failed to provide written notice about annual interest rate and repayment amount changes.

Enforcement

Korea Strengthens Mechanism for Punishing Unfair Trading

By Editors | 19/01/2024

The revisions introduce a new penalty surcharge system for unfair trading activities and establish a clear legal ground for calculating unfairly gained profits.

Crypto / Digital Assets

US IRS Clarifies Crypto Tax Reporting Rules

By Mark Johnston | 19/01/2024

The IRS and Treasury clarify that crypto tax reporting rules will require issuing regulations before it goes into effect, which could take years.

Enforcement

Former VP of US Bank Pleads Guilty to AML Violations

By Mark Johnston | 18/01/2024

Peter McVey helped high-risk customers evade the bank’s AML controls, violating the Bank Secrecy Act.

AML / KYC

Cryptos Popular Among Money Launderers in SE Asia: UN Report

By Nithya Subramanian | 18/01/2024

Tether has emerged as a preferred choice for regional cyberfraud operations due to its stability and the ease, anonymity, and low fees of its transactions.

Enforcement

US SEC Fines JP Morgan for Impeding Potential Whistleblowers

By Nithya Subramanian | 17/01/2024

The firm’s securities unit has been fined USD 18 million for disallowing clients from contacting the SEC.

Enforcement

US House Passes Three Finance Bills to Support Taiwan

By Mark Johnston | 16/01/2024

The bills aim to boost Taiwan’s role in the IMF, exclude China from key banking organisations, and push for more […]

Enforcement

CSRC Fines Three Executives for Stock Price Manipulation

By Sanday Chongo Kabange | 16/01/2024

Following its investigation, the CSRC has imposed a total fine of CNY 661 million.