Enforcement

Enforcement

Major Japan Insurers Directed to Divest ‘Strategic Shareholdings’

By Editors | 14/02/2024

The FSA suspects that the competitive environment may have been distorted by the practice of insurers’ holding shares in client companies.

ESG / Sustainability

LME Facing Lawsuit Over “Dirty Metals” Sourced from Indonesia

By Editors | 14/02/2024

The case could force the LME to revisit its rules for listing metals for trading, the London Mining Network and Global Legal Action Network said.

Enforcement

CSRC Fines Semiconductor Startup & Executives for IPO Fraud

By Editors | 14/02/2024

S2C Limited was found to have inflated its operating income and net profit in its 2021 application to list on the Shanghai STAR Market.

Enforcement

NYAG Expands Fraud Lawsuit Against Crypto Firms to $3b

By Mark Johnston | 13/02/2024

Investigations have revealed that additional investors were defrauded beyond the $1bn claimed in the original suit against Gemini, Genesis and DCG, filed in October 2023.

Securities / Derivatives

SEBI Bars TV Guests, Analysts from Securities Market

By Ajoy K Das | 13/02/2024

11 individuals and 4 entities made unlawful gains of $900,000 from trading in stock they were recommending in TV broadcasts.

Securities / Derivatives

India: RBI Deputy Governor Urges NBFCs to Monitor P2P Lending

By Ajoy K Das | 13/02/2024

Deputy Governor M Rajeshwar Rao cautioned that shady business practices and breach of licensing conditions in P2P lending in NBFCs were not acceptable.

AML / KYC

Small German Bank Suspected of Helping Iran Evade Sanctions – Report

By Editors | 13/02/2024

BaFin has been investigating Hamburg-based Varengold Bank since last year, while APAS has been investigating its independent auditor, PwC.

AML / KYC

Singapore: More Charges Laid Against Nickel Trading Fraudster

By Nithya Subramanian | 11/02/2024

Ng Yu Zhi was arrested in February 2021 and now faces 108 charges. His bail was revoked following the discovery of a secret HSBC account.

Enforcement

US SEC Fines 16 More Firms in WhatsApp Probe

By Editors | 11/02/2024

The broker-dealer and investment adviser firms, including Oppenheimer and US Bancorp, agreed to pay a combined $81mn.