Enforcement

Securities / Derivatives

Korea Passes Bill to Strengthen Penalties for Unfair Trading

By Editors | 03/07/2023

The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.

AML / KYC

AUSTRAC Spares Bell Financial from Further Regulatory Action

By Sanday Chongo Kabange | 03/07/2023

AUSTRAC received audit reports for three Bell Financial Group entities and decided not to undertake further regulatory action against them.

Crypto / Digital Assets

Korean Authorities Probes Crypto Lender Delio Over Fraud Allegations

By Sanday Chongo Kabange | 03/07/2023

Regulators are investigating Delio on suspicions that it engaged in fraudulent activities, embezzlement and breach of trust.

Enforcement

CFTC Establishes Task Forces to Target Cyber Threats, Environmental Fraud

By Editors | 02/07/2023

The task forces will help the CFTC address cybersecurity issues, emerging technologies like AI, and fraud in carbon markets.

AML / KYC

UK to Further Restrict Russian Access to Legal Services

By Editors | 30/06/2023

New law will prevent lawyers from advising Russian companies in international money lending and trade deals.

AML / KYC

NZ Court Fines Tiger Brokers for AML Failures

By Sanday Chongo Kabange | 30/06/2023

Tiger Brokers ordered to pay NZD 900,000 penalty for multiple AML/CFT breaches between April 2019 and January 2020.

Enforcement

ASIC Directs Super Funds to Consolidate Duplicate Member Accounts

By Sanday Chongo Kabange | 29/06/2023

ASIC warned it will take enforcement action against trustees who do not comply with their obligations to identify and merge duplicate member accounts.

Enforcement

UK: Financial Services and Markets Act Receives Royal Assent

By Editors | 29/06/2023

The Act sets a path to reform Solvency II, gives the FCA regulatory powers over crypto, and provides stronger protections for victims of APP fraud.

Enforcement

Singapore Court Jails Businessman in Wirecard Case

By Karen Ng | 28/06/2023

This is the third jail sentence relating to the Wirecard case handed out by the Singapore court within the past week.