ENFORCEMENT

ESG / Sustainability

Australia: Taxonomy Needed to Effectively Combat Greenwashing

By Editors | 03/05/2023

Minister Stephen Jones said ASIC will only be able to catch the most egregious examples of greenwashing unless Australia gets its taxonomy right.

Enforcement

Philippine SEC to Raise Penalties for Late Filing of Reports

By Sanday Chongo Kabange | 03/05/2023

In addition to higher monetary fines, the SEC may label a company ‘delinquent’ or revoke its registration in case of repeated failures.

Crypto / Digital Assets

OFAC Fines Crypto Firm Poloniex for 66,000 Sanctions Violations

By Editors | 03/05/2023

Poloniex allowed customers located in Crimea, Cuba, Iran, Sudan, and Syria to engage in online digital asset-related transactions worth $15.3mn.

Enforcement

HK Court Freezes Assets of Former Morgan Stanley Manager

By Editors | 03/05/2023

The former manager used inside information from a deal Morgan Stanley was advising on to generate HK$4.2mn in profits for herself and a friend.

ESG / Sustainability

ASIC Fines Future Super for Alleged Greenwashing

By Sanday Chongo Kabange | 02/05/2023

ASIC fined Future Super Investment Services for “overstating the positive environmental impact” of its fund in a Facebook post.

Enforcement

Philippine SEC Issues Implementing Rules for Consumer Protection Act

By Sanday Chongo Kabange | 01/05/2023

The implementing rules set out the enforcement actions the SEC may take as well as measures to protect financial consumers.

AML / KYC

US Court Convicts Hip Hop Artist Over Jho Low Connection

By Editors | 01/05/2023

Prosecutors said Pras Michél worked with Jho Low to influence the US government during the Obama and Trump presidencies.

Enforcement

Chinese Police Question Staff at Bain & Co Shanghai Office

By Editors | 01/05/2023

The news comes after Chinese authorities closed the Beijing offices of Mintz Group and launched a cybersecurity probe into US chipmaker Micron.

AML / KYC

CFTC Issues Largest Ever Civil Monetary Penalty

By Editors | 30/04/2023

The CFTC ordered the operator of a fraudulent multilevel marketing scheme to pay a $1.7bn penalty and a further $1.7bn in restitution.