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Enforcement
Enforcement
SFC Fines Brokerage for Breaching Financial Resources Rules
By Mark Johnston | 19/12/2023
Central Wealth Securities Investment made various accounting and calculation errors in its financial returns and had a liquid capital deficit for eight months.
ESG / Sustainability
ASIC Fines Northern Trust for Alleged Greenwashing
By Sanday Chongo Kabange | 19/12/2023
ASIC said Northern Trust was responsible for its statements, not the third party that incorrectly applied the exclusion screen specified.
Enforcement
Appellate Court Sets Aside SEBI Penalties Against NSE, Officials
By Ajoy K Das | 19/12/2023
The penalties were imposed in June 2022 over the alleged exploitation of NSE’s internet infrastructure by brokers for faster connectivity.
AML / KYC
HKMA Fines SVF Licensee TNG for AML Compliance Failures
By Sanday Chongo Kabange | 19/12/2023
The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.
Enforcement
Korea FSS Identifies Misconduct by Nine Securities Firms
By Editors | 19/12/2023
The securities firms and up to 30 managers were involved in selling investment assets amongst themselves to shift losses between customer accounts.
Enforcement
EU Leaders Agree on 12th Russia Sanctions Package
By Editors | 18/12/2023
The package includes additional import and export bans and measures to better enforce the oil price cap. Agreement also reached on criminalisation of sanctions violations.
Enforcement
Ex-FBI Agent Jailed for Helping Sanctioned Russian Oligarch
By Editors | 18/12/2023
Former FBI agent Charles McGonigal conspired to violate US sanctions and commit money laundering to help sanctioned Russian oligarch Oleg Deripaska.
AML / KYC
HK Amends National Security Law to Facilitate Asset Freezes
By Editors | 15/12/2023
The national security law has been amended to allow assets to be frozen “until the conclusion of the proceedings” such as criminal prosecutions.
AML / KYC
US Congress Passes Foreign Extortion Prevention Act
By Editors | 15/12/2023
The Act prohibits foreign government officials from soliciting or receiving bribes from any person or company under US jurisdiction.
Enforcement
Former Bank of China Branch Head Jailed for Life for Embezzlement
By Editors | 15/12/2023
Xu Guojun and accomplices embezzled and misappropriated over $323mn in China’s banking sector’s biggest-ever corruption case.
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