ENFORCEMENT

Enforcement

India Supreme Court Orders SEBI to Refund NSE

By Editors | 20/03/2023

Supreme Court quashes SEBI’s orders against NSE for alleged lapses in network systems that favoured high-frequency traders.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

By Editors | 20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

Enforcement

Biden Seeks to Hold Executives Accountable for Bank Failures

By Editors | 20/03/2023

Joe Biden is asking Congress to make it easier for regulators to fine and ban executives of failed banks and claw back compensation.

Enforcement

China MOF Fines Deloitte for Huarong Audit Failures

By Editors | 19/03/2023

Deloitte’s China arm was fined a record CNY 212 million for “serious” deficiencies in its audit work for China Huarong Asset Management between 2014 and 2019.

Enforcement

AFP Seizes Over A$250m from Money Launderers

By Editors | 18/03/2023

A new taskforce has seized over AUD 250 million in cash and assets from money launderers since December 2022.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from PayPal

By Editors | 17/03/2023

AUSTRAC says PayPal has cooperated with an enforcement investigation that commenced in December 2020, related to IFTI reporting.

Enforcement

SFC, ICAC Arrest Five More Ramp-and-Dump Syndicate Members

By Editors | 16/03/2023

The arrestees include qualified accountants and senior executives of a number of Hong Kong-listed companies, the SFC and ICAC said.

Enforcement

ASIC Issues Interim Stop Orders on Three BT Funds

By Editors | 16/03/2023

ASIC said the TMDs for three funds were “broadly drafted and failed to define key concepts” and did not meet the “appropriateness requirements” under the DDO regime.

AML / KYC

China Fines Bohai Bank for Third Time This Year

By Editors | 16/03/2023

The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.