Enforcement

Enforcement

Top Kakao Executive Arrested on Stock Manipulation Charges

By Editors | 24/10/2023

The investigation into Kakao and its top executives began in February. The company’s CIO was arrested due to concerns that he may flee or tamper with evidence.

Crypto / Digital Assets

Cash-for-crypto Shops Need Regulation, Says HK Customs Official

By Editors | 23/10/2023

A regulatory regime for OTC crypto exchange shops is currently being considered by authorities, according to Commissioner Louise Ho.

Crypto / Digital Assets

US SEC Drops Lawsuit Against Ripple Executives

By Editors | 22/10/2023

Analysts say the move will ultimately allow the SEC to appeal the court’s earlier decision about XRP not being a security sooner.

Enforcement

ASIC Bans Former PwC Partner Peter-John Collins for Eight Years

By Editors | 21/10/2023

ASIC said Peter-John Collins is “not a fit and proper person” and that preventing him from working in the financial services industry was “in the public interest”.

Enforcement

NYAG Sues Crypto Firms Gemini, Genesis, DCG for Fraud

By Manesh Samtani | 20/10/2023

“Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” said AG Letitia James. The lawsuit says 230,000 investors lost more than $1bn.

Enforcement

ICAC Arrests Three in Joint Operation with SFC, AFRC

By Manesh Samtani | 20/10/2023

The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.

Enforcement

MAS Bans Former AXA and Aviva Financial Advisers

By Editors | 20/10/2023

The former advisers were banned for allowing unlicensed individuals to perform financial advisory services on their behalf.

Enforcement

MAS Instructs DBS, Citi to Investigate Delayed Recovery from Outage

By Editors | 19/10/2023

The banks took longer than the required four hours to recover from last Saturday’s outage. MAS said it will take appropriate supervisory actions after gathering the necessary facts.

AML / KYC

FinCEN to Require FIs to Report Transactions Involving Crypto Mixers

By Editors | 19/10/2023

FIs would have to report information about transactions they know or suspect could involve crypto mixing, whether in the US or in another jurisdiction.