Enforcement

Enforcement

FSS Korea Steps Up Efforts to Eradicate Unfair Trading Practices

By Mark Johnston | 21/07/2023

The FSS governor pledges to crack down on any illegal activities in the capital market. A notice outlines misconduct at some investment firms.

AML / KYC

BaFin Appoints Special Monitor to Oversee AML Improvements at N26

By Mark Johnston | 21/07/2023

BaFin fined N26 in 2021 but says it still has deficiencies. N26 will be restricted to onboarding no more than 50,000 new customers per month until the deficiencies are resolved.

Securities / Derivatives

SEBI Mandates Automated Trading Controls for Insiders

By Ranamita Chakraborty | 21/07/2023

India’s securities regulator is ensuring that insiders, also known as designated persons, from listed companies cannot trade during sensitive periods.

Enforcement

India: Appeals Tribunal Sets Aside SEBI Penalty Order Against NSE

By Editors | 20/07/2023

The Securities Appellate Tribunal said NSE had not indulged in any unethical act or unjustly enriched itself.

Crypto / Digital Assets

ASIC Cancels FTX Australia’s AFS Licence

By Sanday Chongo Kabange | 20/07/2023

FTX Australia may provide “limited financial services” related to termination of existing derivatives with clients until the end of 12 July 2024.

Enforcement

ASIC Issues First Stop Order on Life Insurance Products

By Sanday Chongo Kabange | 20/07/2023

ASIC issued the interim stop order against Clearview Life to protect consumers from acquiring two income protection cover products that may not be consistent with their needs.

AML / KYC

US Fed Fines Deutsche Bank for Slow Remediation of AML Deficiencies

By Editors | 20/07/2023

The Fed Board said Deutsche Bank made “insufficient remedial progress” under 2015 and 2017 consent orders and still has deficient AML internal controls and governance processes.

Enforcement

MAS Issues Five Year Ban on Former Prudential Representative

By Editors | 20/07/2023

The former representative edited and submitted 11 false invoices to Prudential and deceived the company into making payouts to her clients.

Crypto / Digital Assets

Chinese Authorities Call to Strengthen Cybersecurity Insurance Regulations

By Jill Wong | 19/07/2023

Two Chinese authorities issued an ‘opinion’ on ways to standardise and support the sound development of cybersecurity insurance.