Enforcement

Crypto / Digital Assets

US SEC Charges Coinbase for Alleged Securities Law Violations

By Manesh Samtani | 06/06/2023

Ten US states separately accused Coinbase of securities law violations. CEO Brian Armstrong said the SEC lawsuit will help establish clarity around crypto rules.

Enforcement

ASIC Issues First DDO Stop Order Against CFD Distribution

By Sanday Chongo Kabange | 06/06/2023

ASIC said Mitrade Global relied on a retail investor questionnaire with “significant flaws”. The interim stop order was later revoked.

Enforcement

ASX Releases Reports on CHESS System to ASIC, RBA

By Sanday Chongo Kabange | 06/06/2023

ASX to keep CHESS operational until at least 2032. ASIC said it is prepared to take regulatory action to ensure ASX complies with its regulatory obligations.

Enforcement

PwC Australia Facing Loss of “Substantial” Government Contracts

By Editors | 06/06/2023

A number of government agencies, including ASIC, are reviewing contracts with PwC Australia over confidentiality breaches.

Crypto / Digital Assets

US SEC Charges Binance for “Elaborate Scheme” to Evade Law

By Manesh Samtani | 06/06/2023

CEO Changpeng Zhao said the lawsuit was the latest example of “regulation by enforcement” and that the SEC seeks a “near eradication” of the crypto industry.

Enforcement

ASIC Reviewing Product Governance of BNPL Providers

By Sanday Chongo Kabange | 05/06/2023

ASIC issued an interim stop order against a BNPL product but revoked the order a day later due to “immediate corrective action” by the provider.

Capital / Liquidity

IRDAI Orders SBI Life to Take Over Sahara India Life

By Ranamita Chakraborty | 05/06/2023

Sahara Life’s financial position has been deteriorating with rising losses and a higher percentage of claims to total premiums.

Enforcement

FCA Fines ED&F Man Capital Markets for Cum-Ex Trading Breaches

By Editors | 05/06/2023

The GBP 17.2 million fine is the largest imposed thus far in connection with the cum-ex tax fraud scheme.

AML / KYC

EU, Canada Sanction Moldova Nationals for ‘Destabilising’ Activities

By Manesh Samtani | 04/06/2023

Four individuals are on both sanctions lists for supporting a Russian plan to overthrow the Moldovan government.