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ENFORCEMENT
Enforcement
Barclays to Close 21 ETN Products Following Over-issuance Incident
By Mark Johnston | 22/04/2023
Barclays will close nearly half of its US-listed ETNs. The bank was penalised by the SEC last year for over-issuing $17.7bn in securities.
Crypto / Digital Assets
NBA Hall of Famer Shaquille O’Neal Served FTX Lawsuit
By Editors | 21/04/2023
Lawyers have been attempting to serve O’Neal since November 2022 but he reportedly evaded agents hired to serve the documents for months.
Enforcement
CSRC Investigating GF Securities for Underwriting Failures
By Editors | 21/04/2023
The investigation is related to a 2018 share issuance for which Hong Kong-listed GF Securities served as an underwriter.
Enforcement
Dubai: KPMG Ordered to Pay Investors Over Audit Violations
By Editors | 20/04/2023
The court said KPMG Lower Gulf committed “many violations” of international auditing standards and ordered the firm to pay investors $231mn.
Enforcement
Korea to Prosecute “Malicious Rumours” in Financial Market
By Editors | 19/04/2023
FSC Chairman Kim Joo-hyun instructed the FSS to prosecute those who spread false information after rumours circulated about problems at two unlisted lenders.
AML / KYC
Chinese Court Sentences Ex-CDB Exec to 10 Years Jail
By Editors | 18/04/2023
The court found that Fu Xiaodong accepted bribes over 13 years while serving in senior positions at the China Development Bank.
Enforcement
Russian National Receives Light Sentence for Laundering Ransomware Proceeds
By Mark Johnston | 18/04/2023
Denis Dubnikov laundered money for the Ryuk ransomware gang, but pleaded guilty and cooperated with investigators.
AML / KYC
New Singapore Bills Target Money Mules, Singpass Abuse
By Manesh Samtani | 18/04/2023
The MHA and SNDGO proposed amendments that will empower the police to prosecute money mules and those who sell and trade Singpass credentials.
Crypto / Digital Assets
US SEC Charges Crypto Firm Bittrex for Not Registering
By Editors | 18/04/2023
The SEC identified six Bittrex-listed crypto tokens as securities and said the company should have registered as a broker, exchange, and clearing agency.
Enforcement
US and Allies to Cooperate to Displace Russia from Nuclear Energy Market
By Editors | 17/04/2023
The US, UK, Canada, Japan and France will leverage their resources and capabilities to undermine Russia’s grip on supply chains.
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