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ENFORCEMENT
Enforcement
ASIC to ‘Sharpen Focus’ on Misconduct by Credit Providers
By Editors | 11/05/2023
Deputy chair Sarah Court said credit providers and debt management firms that take advantage of vulnerable consumers are in ASIC’s sights.
Crypto / Digital Assets
Ex-Coinbase Employee Sentenced to Jail for Insider Trading
By Editors | 11/05/2023
The former Coinbase product manager was sentenced to two years in prison for feeding his brother and a friend information about upcoming crypto listings.
ESG / Sustainability
ASIC Offers Guidance on Avoiding Greenwashing Penalties
By Editors | 11/05/2023
ASIC has taken 35 actions against greenwashing since July 2022. It has several other investigations underway and anticipates further regulatory action.
Enforcement
S. Korea: Key Suspect Detained in Stock Manipulation Case
By Editors | 10/05/2023
Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.
Securities / Derivatives
International Court Reduces Compensation Korea Has to Pay Loan Star
By Editors | 09/05/2023
The Korean government would still have to pay $216mn to US private equity firm Lone Star, despite the reduction.
Enforcement
Chinese Police Arrest Billionaire Tycoon for Illegal Fundraising
By Editors | 09/05/2023
Police arrested the owner of commodities giant Cedar Holdings, which raised almost $3bn from investors which it has been unable to repay.
Enforcement
US Authorities Investigating Short Sales of Banking Stocks
By Editors | 09/05/2023
SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.
Enforcement
Australia: Medibank Faces Four Class Actions Over October Cyberattack
By Editors | 09/05/2023
The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.
Crypto / Digital Assets
US SEC Ordered to Respond to Coinbase Petition Within 10 Days
By Editors | 08/05/2023
The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.
Enforcement
US SEC Issues Record-breaking $279m Whistleblower Award
By Editors | 08/05/2023
The size of the award should incentivise whistleblowers to come forward about potential securities law violations, said the SEC’s Gurbir Grewal.
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