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Enforcement
Enforcement
ASIC Sues eToro Over Retail Sales of High Risk CFD Products
By Sanday Chongo Kabange | 03/08/2023
ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.
Enforcement
Australia High Court Calls for Higher Penalty in Foreign Bribery Case
By Editors | 03/08/2023
High Court justices rejected the A$1.35mn fine ordered in a foreign bribery case, deeming it insufficient.
Enforcement
ASIC Warns of More Enforcements in the ‘Coming Months’
By Sanday Chongo Kabange | 03/08/2023
ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.
AML / KYC
FSS Korea Confirms Embezzlement Case at BNK Kyongnam Bank
By Editors | 03/08/2023
A BNK Kyongnam Bank employee was found to have embezzled $44mn over 15 years by fabricating loan documents and using family accounts.
Enforcement
RBI Fines State-run Energy Firms for Reporting Foreign Investments Late
By Editors | 02/08/2023
The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.
Enforcement
FSS Korea Directs to Foreign Firms to Improve Trading Controls
By Sanday Chongo Kabange | 02/08/2023
The firms erroneously recorded margin trading transactions. One firm also did not properly document reasons for client-directed order amendments.
Crypto / Digital Assets
US SEC Files Charges Over $1bn in Unregistered Crypto Securities Offerings
By Editors | 01/08/2023
Richard Heart misappropriated at least $12mn of offering proceeds to purchase luxury goods, including the largest black diamond in the world.
Enforcement
South Korea Penalises 18 Firms for Short-Selling Violations
By Sanday Chongo Kabange | 01/08/2023
The biggest fines went to QUANTin Asset Management and PFM Asset Management, which were penalised more than a combined KRW 600 million.
AML / KYC
HK Court Convicts 4 Ex-DBS Employees on Bribery Charges
By Sanday Chongo Kabange | 01/08/2023
The four former DBS employees were convicted for divulging confidential customer data to others for touting personal loans.
AML / KYC
India Supreme Court Criticises Government for Not Addressing Crypto Crime
By Editors | 01/08/2023
India’s Supreme Court asked the government whether it can establish a “national specialised agency” to investigate crypto-related crimes.
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