Enforcement

Enforcement

OFSI Updates Sanctions Guidance to Clarify “Control Test”

By Editors | 19/11/2023

The updated guidance clarifies that political leaders are not presumed to control public bodies or private companies for the purposes of UK sanctions, in response to a recent court decision.

Enforcement

FDIC Faces Investigation Over Sexual Misconduct Allegations

By Editors | 19/11/2023

FDIC chair Martin Gruenberg, who headed the agency from 2011 to 2018, is under scrutiny for allowing widespread harassment to persist for over ten years.

Securities / Derivatives

Korea Unveils Proposed Reforms to Strengthen Short Selling System

By Editors | 17/11/2023

Under the proposals, institutional and retail investors will be subject to the same rules, and naked short selling can be penalised with a 10 year market ban.

Enforcement

Indian Authorities Probe Aviva for Alleged Tax Evasion – Report

By Ajoy K Das | 17/11/2023

Inspectors from the Directorate General of GST Intelligence seized laptops from Aviva and questioned some of its top officials.

Enforcement

EU Reaches Provisional Agreement on Environmental Crime Directive

By Mark Johnston | 17/11/2023

The revised directive replaces the 2008 version, which was found to have a limited effect with sanction levels that were too low.

Enforcement

OFAC Sanctions UAE Companies, Vessels for Trading Russian Oil

By Editors | 17/11/2023

Latest OFAC action meant to strengthen enforcement of the G7 oil-price cap as Russia continues to profit from oil exports.

Enforcement

SFC Obtains Orders Against Ex-Chairman for Fraudulent Share Scheme

By Mark Johnston | 16/11/2023

Former chairman disqualified for 10 years from holding any directorial or managerial position in Hong Kong and fined for fraudulent share scheme.

Enforcement

ASIC is Targeting Misconduct in Superannuation Sector

By Sanday Chongo Kabange | 16/11/2023

ASIC says it will take strong, targeted enforcement action in relation to “member services failures in the super sector”.

Enforcement

RBI Takes First Action Against Non-Compliance With Digital Lending Guidelines

By Ajoy K Das | 16/11/2023

The RBI said Bajaj Finance did not issue the Key Fact Statements to borrowers as required under its digital lending guidelines issued in September 2022.