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Enforcement
Crypto / Digital Assets
HKMA, SFC Warn of Illegal Offerings by Crypto Firms
By Sanday Chongo Kabange | 18/09/2023
The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.
Enforcement
MAS Imposes 9-Year Ban on Directors of Three Arrows Capital
By Manesh Samtani | 15/09/2023
MAS reprimanded the bankrupt crypto hedge fund for regulatory violations last June. The regulator has since uncovered additional violations.
Enforcement
RHB Investment Bank Fined, Reprimanded for Sponsor Failures
By Editors | 15/09/2023
RHB failed to conduct proper due diligence on an ACE Market listing applicant and to ensure submissions to Bursa Malaysia were complete and accurate.
Enforcement
Singapore: Former MOM Officer Jailed Over Unauthorised Access to DBS Data
By Mark Johnston | 15/09/2023
A former MOM employee has been sentenced to five weeks’ jail for asking former DBS employee to find out his ministry colleagues’ salaries.
Crypto / Digital Assets
US SEC Settles Second NFT-related Enforcement Action
By Editors | 14/09/2023
Animated web series creator will pay $1mn to settle SEC claims that it conducted an unregistered offering of crypto asset securities. Two commissioners dissented.
Enforcement
US Court Sentences Co-Founder of “OneCoin” Fraud to 20 Years
By Editors | 14/09/2023
OneCoin was a fraudulent cryptocurrency that was sold through a pyramid scheme to millions of people from 2014-2016, resulting in $4bn in worldwide losses.
Enforcement
Former China Life Chairman Received Suspended Death Sentence
By Editors | 14/09/2023
Wang Bin was sentenced for accepting bribes worth CNY 325 million and illegally concealing CNY 54.2 million in overseas deposits.
Enforcement
SEBI Orders Brickwork Ratings to Revamp Board, Rating Process
By Mark Johnston | 13/09/2023
SEBI initially tried to cancel Brickwork’s credit rating agency licence but the order was quashed on appeal and SEBI was directed to issue a fresh order.
Enforcement
US SEC Charges Virtu For Not Protecting Confidential Customer Data
By Manesh Samtani | 13/09/2023
Virtu describes the lawsuit as retaliation for the company’s public criticism of the SEC’s market structure rule proposals.
Enforcement
Thai SEC Charges Four Brokerage Execs for Stock Manipulation
By Mark Johnston | 13/09/2023
Criminal charges were filed against four executives of a brokerage firm, including its CEO, for manipulating prices during a 2018 IPO.
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