ENFORCEMENT

AML / KYC

SFC Fines Jinrui Futures for AML Compliance Failures

By Editors | 08/02/2023

Jinrui Futures is the 5th firm to be fined over the use of software that allowed Mainland investors to trade in Hong Kong without opening a local securities account.

Enforcement

ASIC Disciplinary Panel Fines Stockbroker Over Trade Pricing

By Editors | 07/02/2023

Wilsons Advisory and Stockbroking reported over 2,000 trades as TWPI transactions in circumstances where the trades did not provide price improvement.

Enforcement

US SEC Expands Staff Messaging Probe to Hedge Funds

By Editors | 07/02/2023

The SEC has asked firms including Point72 Asset Management and Citadel to search employees’ personal devices for evidence of business dealings via unapproved channels.

Crypto / Digital Assets

Korea: Man Arrested for Allegedly Stealing Bithumb Funds

By Editors | 06/02/2023

Kang Jong-Hyun is suspected of conspiring to manipulate the stock price of Bithumb affiliates and steal KRW 60 billion in company funds.

AML / KYC

New York Woman Charged for Financing Terrorist Groups With Crypto

By Editors | 06/02/2023

The case is one of the rare cases worldwide where cryptocurrency is alleged to have financed terrorism, said Manhattan District Attorney Alvin Bragg.

Crypto / Digital Assets

US Authorities Probe Crypto Bank Silvergate Over FTX Dealings

By Editors | 06/02/2023

The criminal probe is said to be focused on Silvergate’s dealings with the now-bankrupt FTX and Alameda Research, and its hosting of accounts tied to both companies.

Enforcement

UK FCA Blocked Over 8,500 Misleading Ads Last Year

By Editors | 06/02/2023

The FCA will continue to put pressure on those using social media to illegally promote investments. In July, it will also introduce the new ‘Consumer Duty’.

Crypto / Digital Assets

“My Big Coin” Crypto Founder Gets Eight Year Jail Sentence

By Sam Chen | 04/02/2023

In the first sentencing of a crypto founder for a marketing fraud, prosecutors said Randall Crater defrauded investors of more than $7.5mn.

AML / KYC

AFP Dismantles Chinese-Australian Money Laundering Syndicate

By Editors | 03/02/2023

Police seized over AUD 150 million in assets including crypto, and charged nine individuals including a NAB banker with money laundering.