ENFORCEMENT

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    Enforcement

    RBI Fines State-run Energy Firms for Reporting Foreign Investments Late

    By Editors | 02/08/2023

    The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.

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    Enforcement

    FSS Korea Directs to Foreign Firms to Improve Trading Controls

    By Sanday Chongo Kabange | 02/08/2023

    The firms erroneously recorded margin trading transactions. One firm also did not properly document reasons for client-directed order amendments.

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    Crypto / Digital Assets

    US SEC Files Charges Over $1bn in Unregistered Crypto Securities Offerings

    By Editors | 01/08/2023

    Richard Heart misappropriated at least $12mn of offering proceeds to purchase luxury goods, including the largest black diamond in the world.

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    Enforcement

    South Korea Penalises 18 Firms for Short-Selling Violations

    By Sanday Chongo Kabange | 01/08/2023

    The biggest fines went to QUANTin Asset Management and PFM Asset Management, which were penalised more than a combined KRW 600 million.

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    AML / KYC

    HK Court Convicts 4 Ex-DBS Employees on Bribery Charges

    By Sanday Chongo Kabange | 01/08/2023

    The four former DBS employees were convicted for divulging confidential customer data to others for touting personal loans.

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    AML / KYC

    India Supreme Court Criticises Government for Not Addressing Crypto Crime

    By Editors | 01/08/2023

    India’s Supreme Court asked the government whether it can establish a “national specialised agency” to investigate crypto-related crimes.

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    Enforcement

    PwC Entered into Confidential Settlement with ATO in March

    By Editors | 31/07/2023

    PwC entered into a confidential settlement with the Australian Tax Office in March, though details of the settlement remain undisclosed.

    AML / KYC

    India Arrests Four in Bribery Case, Including Ministry Officials

    By Editors | 31/07/2023

    CBI arrested four individuals, including three Ministry of Corporate Affairs officials, in a bribery case linked to Alok Industries.

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    AML / KYC

    More Officials Under Probe as China Broaden’s Anti Corruption Campaign

    By Editors | 31/07/2023

    Beijing intensifies anti-corruption efforts, investigating a high-ranking rural banking official and expelling another four senior Communist Party officials.

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    Enforcement

    FSS Korea Completes Inspections of CFD Businesses

    By Editors | 30/07/2023

    The FSS said it will take “stern measures” against illegal acts identified from the inspections, which covered three major securities firms.

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