ENFORCEMENT

Crypto / Digital Assets

New FTX Report Reveals Extent of Control Failures

By Manesh Samtani | 11/04/2023

FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.

Enforcement

Korea Arrests More Coinone Employees Over Bribery Allegations

By Editors | 11/04/2023

The employees are accused of engaging in bribery conduct to list digital assets on Coinone’s platform.

Enforcement

US State Regulators Fine Robinhood for Causing Investor Harm

By Editors | 11/04/2023

Robinhood disseminated inaccurate information to customers and did not have a reasonably designed customer identification programme, among other failures.

AML / KYC

UK FCA Outlines Next One Year of Work to Improve Markets

By Editors | 11/04/2023

The FCA will propose reforms to the listing regime, consult on the introduction of consolidated tapes, and strengthen its authorisation and assessment processes.

Fintech / Regtech

ACCC Warns of Penalties for Poor Quality Open Banking Data

By Editors | 10/04/2023

Enforcement efforts will be focused on issues involving the quality of product reference data such as incorrect interest rates and missing data.

Enforcement

US Authorities Charge Fintech Founder for Defrauding JPMorgan

By Editors | 10/04/2023

The fintech founder fraudulently induced JPMorgan to acquire her startup in September 2021 by making up data, the SEC said.

Enforcement

US Authorities Fine Microsoft for Export Control, Sanctions Breaches

By Manesh Samtani | 09/04/2023

Microsoft’s Russia-based employees ordered software licenses in the names of parties not on the Entity List, to be used by designated persons.

Enforcement

ICBC Under Probe for Underwriting, Bond Pricing Practices

By Editors | 06/04/2023

The pricing of debt financing instruments underwritten by ICBC “seriously deviated from the reasonable level of the market” and “disturbed the market order”.

AML / KYC

UPDATED – HK Police Charge 10 Suspects for Ramp-and-Dump Activities

By Editors | 06/04/2023

Four of the individuals are alleged to have conspired with some of the individuals who were charged last September to use nominee accounts to corner the shares of two target stocks.