ENFORCEMENT

    Enforcement

    ASIC Puts Bank Boards on Notice Over AI Risks and Governance

    By Sanday Chongo Kabange | 24/07/2025

    ASIC has warned that existing financial services laws apply directly to AI, placing the onus on boards to manage risks of consumer harm.

    Enforcement

    Hong Kong SFC Secures Compensation for Clients of Fraudulent Brokerage

    By Sanday Chongo Kabange | 24/07/2025

    The SFC says court-appointed administrators have distributed assets to clients of Hong Kong Wan Kiu Investment.

    Enforcement

    UK Supreme Court Overturns Rate-rigging Convictions of Ex-Traders

    By Nithya Subramanian | 24/07/2025

    Tom Hayes and Carlo Palombo, once jailed for manipulating benchmark interest rates, have had their convictions overturned due to legal errors in their trials.

    Enforcement

    Tokyo Court Sentences Five Former SMBC Nikko Execs in Manipulation Case

    By Manesh Samtani | 23/07/2025

    A Tokyo court has convicted five former SMBC Nikko Securities executives, including a former Vice President, for market manipulation, highlighting compliance failures.

    Enforcement

    Philippines Weighs Total Ban on Online Gambling vs Tighter Rules

    By Mark Johnston | 23/07/2025

    The Philippines is weighing a potential ban on online gambling, balancing significant government revenues and job creation against mounting social concerns.

    Enforcement

    HKMA Fines Four FIs HKD 17.8M for AML and CDD Failures

    By Sanday Chongo Kabange | 23/07/2025

    The HKMA has penalised three banks and a stored value facility licensee for AML/CFT control deficiencies.

    Enforcement

    China Confirms Wells Fargo Exec Involved in 'Criminal Case'

    By Editors | 23/07/2025

    China has confirmed the US banker is part of a criminal probe. Reportedly, a US Commerce Department employee has also been subject to an exit ban since April.

    Enforcement

    AUSTRAC Announces Closure of Enforceable Undertaking with PayPal

    By Sanday Chongo Kabange | 22/07/2025

    AUSTRAC has cancelled its enforceable undertaking with PayPal after the company completed a two-year remediation plan.

    Enforcement

    ASIC Sues Fortnum Private Wealth Over Cybersecurity Failures

    By Sanday Chongo Kabange | 22/07/2025

    ASIC claims the financial advice licensee failed to manage cyber risks, exposing thousands of clients to data breaches.

    Enforcement

    SEBI Allows Jane Street to Resume Trading in Indian Market

    By Nithya Subramanian | 22/07/2025

    SEBI has directed the BSE and NSE to maintain close oversight of the firm’s trading activity to ensure there is no recurrence of the alleged manipulative patterns.

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