ENFORCEMENT

Enforcement

UK: Financial Services and Markets Act Receives Royal Assent

By Editors | 29/06/2023

The Act sets a path to reform Solvency II, gives the FCA regulatory powers over crypto, and provides stronger protections for victims of APP fraud.

Enforcement

Singapore Court Jails Businessman in Wirecard Case

By Karen Ng | 28/06/2023

This is the third jail sentence relating to the Wirecard case handed out by the Singapore court within the past week.

Crypto / Digital Assets

New Report Details Misuse of Customer Funds by FTX

By Manesh Samtani | 28/06/2023

FTX was able to remove customers’ money from their primary deposit accounts by making misrepresentations to banks.

Enforcement

RBI Fines Credit Information Companies for Data Non-Compliance

By Ranamita Chakraborty | 28/06/2023

India’s central bank has taken collective action for the first time against all four credit information companies.

Capital / Liquidity

APRA Imposes Capital Charge on Medibank Over 2022 Hack

By Sanday Chongo Kabange | 27/06/2023

APRA has decided to increase Medibank’s capital adequacy requirement for operational risk by A$250mn.

Enforcement

Australia: PwC’s Breach of Trust was “Calculated”, Says Senate Committee

By Sanday Chongo Kabange | 27/06/2023

Lawmaker Richard Colbeck has called for a wider probe into PwC, saying the information released to date showed the scandal “extended internationally”.

Crypto / Digital Assets

BSP Urged to Take Action Against Unregistered Crypto Exchanges

By Mark Johnston | 26/06/2023

Infrawatch PH says exhibiting leniency toward unregistered crypto exchanges risks the Philippines remaining on the FATF gray list.

Enforcement

ASIC Rejects Senate’s Accusations of Undermining Inquiries

By Karen Ng | 26/06/2023

ASIC chair Joe Longo delivers a defence against accusations that the regulator obstructed a Senate inquiry into its capacity and ability.

Enforcement

US SEC Fines JPMorgan for Inadvertently Deleting Emails

By Editors | 25/06/2023

The emails were accidentally permanently deleted during a project to delete certain historical communications from the 1970s and 1980s.