Enforcement

Enforcement

Korea FSS Reveals Arbitration Results for Mis-sold ELS Products

By Editors | 16/05/2024

The final compensation ratio in representative cases from five banks varied from 30 to 65 percent.

Enforcement

CSRC Opens Investigation Into Hedge Fund Firm

By Editors | 16/05/2024

The investigation was prompted by reports that the firm’s controlling shareholder “ran away”.

AML / KYC

Singapore Makes Sixth Conviction in Money Laundering Case

By Nithya Subramanian | 15/05/2024

Turkish national Vang Shuiming was sentenced to “13 months and six weeks” imprisonment and required to forfeit S$179mn in assets.

Crypto / Digital Assets

CFTC Fines Crypto Firm FalconX $1.8m for Failure to Register

By Editors | 14/05/2024

FalconX allowed US customers to trade in crypto derivatives without registering as a futures commission merchant.

Enforcement

Australian Court Dismisses Class Action Against CBA

By Editors | 14/05/2024

The class action alleged that CBA failed to disclose its AML contraventions for several years before it was eventually fined A$700m in 2018.

Enforcement

Singapore: Next Phase of FSMA Implementation Has Commenced

By Editors | 14/05/2024

MAS can now impose fines up to S$1mn for non-compliance with technology risk management requirements.

Enforcement

ASIC Probes ANZ Over Treasury Bond Issuance

By Sanday Chongo Kabange | 14/05/2024

ASIC suspects ANZ breached the law while serving as a risk manager for a government bond issuance last year.

Enforcement

FINRA Censures and Fines Mizuho’s US Securities Unit

By Editors | 14/05/2024

Mizuho Securities had inaccurate or incomplete information in more than 300,000 institutional customer confirmations over five years.

Enforcement

FSS Korea Finds Misconduct at Real Estate Trust Companies

By Editors | 13/05/2024

The FSS found extortion of real estate developers, and other misconduct. The cases will be referred to investigative agencies.