ENFORCEMENT

Crypto / Digital Assets

US SEC Charges Binance for “Elaborate Scheme” to Evade Law

By Manesh Samtani | 06/06/2023

CEO Changpeng Zhao said the lawsuit was the latest example of “regulation by enforcement” and that the SEC seeks a “near eradication” of the crypto industry.

Enforcement

ASIC Reviewing Product Governance of BNPL Providers

By Sanday Chongo Kabange | 05/06/2023

ASIC issued an interim stop order against a BNPL product but revoked the order a day later due to “immediate corrective action” by the provider.

Capital / Liquidity

IRDAI Orders SBI Life to Take Over Sahara India Life

By Ranamita Chakraborty | 05/06/2023

Sahara Life’s financial position has been deteriorating with rising losses and a higher percentage of claims to total premiums.

Enforcement

FCA Fines ED&F Man Capital Markets for Cum-Ex Trading Breaches

By Editors | 05/06/2023

The GBP 17.2 million fine is the largest imposed thus far in connection with the cum-ex tax fraud scheme.

AML / KYC

EU, Canada Sanction Moldova Nationals for ‘Destabilising’ Activities

By Manesh Samtani | 04/06/2023

Four individuals are on both sanctions lists for supporting a Russian plan to overthrow the Moldovan government.

Enforcement

HK Police Arrest Man for Illegal Short Selling, Fraud

By Editors | 04/06/2023

The man fabricated trading statements that falsely showed he held shares in four listed companies he short-sold, when in fact he did not, the SFC said.

Enforcement

ASIC Issues First Stop Order on Superannuation Product

By Sanday Chongo Kabange | 04/06/2023

The interim stop orders were made against Spaceship Super and three managed funds promoted by Spaceship Capital due to deficient TMDs.

Enforcement

APRA Investigating Super Fund Payments to Unions

By Editors | 04/06/2023

APRA chairman John Lonsdale told lawmakers the regulator has an “appetite to take enforcement” where it is needed.

Enforcement

FINRA Fines Vanguard for Misleading Account Statements

By Mark Johnston | 02/06/2023

Vanguard had errors in about 8.5 million customer statements and failed to address customer reports of the errors in a timely manner.