Enforcement

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    Crypto / Digital Assets

    US SEC to Settle Case Against Crypto Firm Bittrex for $24m

    By Editors | 11/08/2023

    Bittrex and its co-founder and former CEO agreed to settle the SEC case for $24mn. The firm previously said it was exiting the US market due to a lack of regulatory clarity.

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    Enforcement

    ASIC Sues Debt Management Firm for Causing Consumer Harm 

    By Sanday Chongo Kabange | 10/08/2023

    The debt management firm offered to help borrowers solve their financial burdens but instead caused them more harm, ASIC alleges.

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    Enforcement

    Korean Regulators Discover Insider Trades at Securities Firm

    By Sanday Chongo Kabange | 10/08/2023

    Employees at the securities unit of an unnamed bank used nonpublic information about bonus issues by listed companies to generate billions of won in profits.

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    Capital / Liquidity

    APRA Removes Liquidity Add-on for Bendigo and Adelaide Bank

    By Editors | 10/08/2023

    APRA applied a ten percent add-on to the net cash outflow component of Bendigo’s LCR calculation in October 2020.

    Enforcement

    Indian Police Busts Crypto-Ponzi Scheme Worth Over $120m

    By Mark Johnston | 09/08/2023

    The scheme targeted individuals across various regions of India, encouraging them to invest in a fraudulent crypto token known as STA.

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    Crypto / Digital Assets

    Crypto CEO Charged in South Korea for Fraud, Embezzlement

    By Editors | 09/08/2023

    Bitsonic CEO Jinwook Shin manipulated computer records to inflate prices and trading volumes, and defraud investors.

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    Enforcement

    SEC, CFTC Penalise Firms $555m for Use of Unapproved Messaging Apps

    By Manesh Samtani | 09/08/2023

    The use of “off-channel” communications was “pervasive and longstanding”. Wells Fargo was penalised $200mn, while BNP Paribas and SocGen were each fined $110mn.

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    Enforcement

    SFC to Gain Powers to Tackle Insider Dealing with Cross-Border Element

    By Manesh Samtani | 08/08/2023

    The SFC will be better able to address insider dealing perpetrated in Hong Kong involving overseas-listed securities, and insider dealing perpetrated overseas involving HK-listed securities.

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    Enforcement

    Bangladesh Court Orders Probe into Conglomerate’s Offshore Investments

    By Mark Johnston | 08/08/2023

    The probe will investigate the owner of S Alam Group over an alleged $1bn in investments made offshore without central bank permission.

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    Capital / Liquidity

    SEBI’s Annual Report Highlights Disclosure Rules Strengthening Plan

    By Jill Wong | 08/08/2023

    Sebi’s annual report highlights plans to strengthen disclosure requirements of unlisted companies.

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