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ENFORCEMENT
Crypto / Digital Assets
US Judge Skeptical of SEC Stance Against Coinbase
By Editors | 15/07/2023
In a pre-motion hearing, the judge suggested it was reasonable for Coinbase to think they were not breaking the law based on the SEC’s issuance of the S-1 form.
Enforcement
Korea Prosecutors Arrest Three on Stock Manipulation Charges
By Sanday Chongo Kabange | 14/07/2023
The trio allegedly generated $27.9mn in illicit profits by manipulating the stock prices of five companies, prosecutors said.
AML / KYC
Euroclear Faces $2b Lawsuit from Russian Fund Manager
By Editors | 14/07/2023
Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.
Enforcement
SFC, AFRC to Jointly Target Misconduct By Listed Issuers
By Sanday Chongo Kabange | 14/07/2023
The SFC and AFRC will work together to address misconduct involving dubious loans issued by listed companies to third parties.
Enforcement
Singapore Jails Four on False Trading, Deception Convictions
By Editors | 14/07/2023
The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.
Enforcement
SFC Fines Fund Manager for Failing to Segregate Client Funds
By Sanday Chongo Kabange | 14/07/2023
The fund manager also issued inaccurate statements of accounts and failed to provide statements of accounts to clients within the prescribed time limit.
AML / KYC
Malaysia Arrests Former 1MDB Legal Counsel
By Editors | 14/07/2023
Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.
Enforcement
UK FCA Fines Bastion Capital Over Cum-Ex Trades
By Mark Johnston | 13/07/2023
The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.
Enforcement
FFC Asia 2023: HKMA Says Information Sharing Key to Fighting Fraud
By Karen Ng | 13/07/2023
HKMA says information sharing among banks will be key to tackling the new challenges in the fraud and financial crime landscape.
AML / KYC
SEC Settles Charges Against Merrill Lynch for Failing to File SARs
By Editors | 13/07/2023
Merrill Lynch did not file hundreds of mandatory SARs because it erroneously used a $25,000 threshold instead of the required $5,000 threshold.
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