Enforcement

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    Enforcement

    JPMorgan to Pay Penalty to 3rd Regulator in Surveillance Case

    By Nithya Subramanian | 03/05/2024

    Following fines from the OCC and Fed announced in March, JPM said it has to pay $100m to a third regulator, identified in reports as the CFTC.

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    Enforcement

    SFC Starts Insider Dealing Prosecution Against Hedge Fund

    By Sanday Chongo Kabange | 03/05/2024

    The SFC is prosecuting Segantii Capital Management, its founder Simon Sadler, and former trader Daniel La Rocca for insider dealing.

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    AML / KYC

    Singapore: Two More Sentenced in Money Laundering Case

    By Nithya Subramanian | 03/05/2024

    Cambodian Su Baolin and Chinese national Zhang Ruijin were sentenced to jail and required to forfeit a combined S$183mn in assets.

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    Enforcement

    Canada’s FINTRAC Imposes AML Penalty on TD Bank

    By Mark Johnston | 03/05/2024

    The $6.7mn fine is the largest-ever levied by FINTRAC. TD Bank has separately provisioned $450mn for potential US penalties.

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    Enforcement

    Russian Court Cancels Part of JPMorgan Freeze Order

    By Editors | 03/05/2024

    The majority of JPMorgan’s funds in Russia cannot be seized as they are held in so-called “type C” accounts.

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    Enforcement

    Hong Kong ICAC Charges MPF Intermediary with Fraud

    By Sanday Chongo Kabange | 02/05/2024

    A former insurance agent of FWD Life allegedly conspired with four clients to apply for early withdrawal of their MPF using false documents.

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    Enforcement

    MAS Ends Six-Month Pause on Non-Essential Activities at DBS

    By Nithya Subramanian | 02/05/2024

    MAS will retain the additional capital requirement and “closely monitor” DBS Bank’s progress on the remaining deliverables.

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    Crypto / Digital Assets

    India Collaborates with US FBI on Crypto Scam Case

    By Ajoy K Das | 01/05/2024

    The joint operation uncovered a $360mn scam involving drug trafficking, crypto payments and the dark web.

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    AML / KYC

    US Court Sentences Binance Founder to Four Months Jail

    By Editors | 01/05/2024

    The sentence was below the three years requested by prosecutors and the 18 month maximum recommended under federal guidelines.

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    Enforcement

    India: ICAI Passes Order Against EY Affiliates and Former Boss

    By Ajoy K Das | 01/05/2024

    EY’s India affiliates have been using global network branding and paying referral fees to global network firms, which is prohibited.

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