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ENFORCEMENT
AML / KYC
US Authorities to Target Those Who Facilitate Sanctions Evasion
By Editors | 06/03/2023
China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.
Enforcement
LME Faces First Ever Enforcement Probe Over Nickel Market Suspension
By Editors | 06/03/2023
This is the first time UK regulators have opened an enforcement investigation against an exchange, which observers say could point to serious misconduct or compliance failures.
Enforcement
OFAC Penalises Indian Tobacco-maker for Sanctions Violations
By Editors | 06/03/2023
Godfrey Phillips India exported tobacco to North Korea through a Thai intermediary, saying they were going to China. Hong Kong intermediaries were used to make the payments.
Enforcement
SEBI Bars Former Chief Dealer of Axis Mutual Fund and Others
By Editors | 05/03/2023
The former chief trader of Axis Mutual Fund is alleged to have conceived of a “fraudulent scheme” with other “unscrupulous entities” to front-run trades.
Enforcement
SFC Bans Ex-Convoy Licensee Over Stock Manipulation Scheme
By Editors | 05/03/2023
A Convoy Asset Management consultant was banned for life for his role in a stock manipulation scheme and for lying to the SFC.
Enforcement
ASIC Launches First Court Action Alleging Whistleblower Victimisation
By Sanday Chongo Kabange | 05/03/2023
ASIC alleges coal producer TerraCom and its directors and officers breached the whistleblower protection regulations which came into force in July 2019.
AML / KYC
US Authorities Fine Ericsson $200m for Breaching 2019 DPA
By Editors | 04/03/2023
Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.
AML / KYC
China Charges Ex-President of China Merchant Bank for Corruption
By Editors | 04/03/2023
Tian Huiyu, who built China Merchants Bank into the nation’s top retail bank, faces charges related to abuse of power, insider trading, and leaking internal information.
ESG / Sustainability
ACCC Internet Sweep Reveals Widespread Greenwashing by Businesses
By Sanday Chongo Kabange | 03/03/2023
Out of 247 businesses reviewed during the ACC’s internet sweep, 57 percent made “concerning claims about their environmental credentials”.
Enforcement
ASIC Issues New Guidance on Whistleblower Programmes
By Sanday Chongo Kabange | 03/03/2023
The guidance is intended to help entities improve their whistleblower handling arrangements and encourage speak up.
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