Enforcement

Enforcement

US Court Jails Former Deutsche Bank Exec for Crypto Fraud

By Mark Johnston | 19/09/2023

Rashawn Russell, who operated a fake cryptocurrency investment fund and an identity theft scheme, was sentenced to 30 years in prison.

Enforcement

SFC Imposes Seven Month Ban on Former Taiping Securities RO

By Editors | 19/09/2023

The former responsible officer logged into clients’ internet trading accounts to place orders for them, and failed to maintain proper records of the order instructions.

Enforcement

SFC Penalises Chee Tak Securities and MIC for Regulatory Breaches

By Editors | 19/09/2023

Chee Tak Securities had no written manuals, policies and procedures on recording order instructions, ongoing monitoring, trade surveillance or employee dealing.

Enforcement

Affin Hwang Dealer Punished for Misusing Client Funds

By Editors | 18/09/2023

The Affin Hwang Investment Bank dealer’s representative executed personal and unauthorised trades in clients’ accounts.

Enforcement

Chinese Police Arrest Employees of Evergrande Wealth

By Editors | 18/09/2023

Investors who bought Evergrande wealth management products are asked to report their cases. Evergrande’s life insurance unit has also been taken over.

Crypto / Digital Assets

HKMA, SFC Warn of Illegal Offerings by Crypto Firms

By Sanday Chongo Kabange | 18/09/2023

The HKMA warned about crypto firms labelling themselves as banks. The SFC warned about a crypto firm called JPEX which falsely claims to be licensed.

Enforcement

MAS Imposes 9-Year Ban on Directors of Three Arrows Capital

By Manesh Samtani | 15/09/2023

MAS reprimanded the bankrupt crypto hedge fund for regulatory violations last June. The regulator has since uncovered additional violations.

Enforcement

RHB Investment Bank Fined, Reprimanded for Sponsor Failures

By Editors | 15/09/2023

RHB failed to conduct proper due diligence on an ACE Market listing applicant and to ensure submissions to Bursa Malaysia were complete and accurate.

Enforcement

Singapore: Former MOM Officer Jailed Over Unauthorised Access to DBS Data

By Mark Johnston | 15/09/2023

A former MOM employee has been sentenced to five weeks’ jail for asking former DBS employee to find out his ministry colleagues’ salaries.