Enforcement

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    Enforcement

    Japan FTC Cautions Mizuho Securities Over IPO Price-setting

    By Editors | 16/04/2023

    Mizuho Securities, as lead underwriter, set the issue prices of two companies lower than the companies were seeking. Both more than doubled in value on their IPO.

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    AML / KYC

    US Sentences Man Who Stole Bitcoin from Silk Road to Prison

    By Mark Johnston | 15/04/2023

    The DOJ said James Zhong executed a scheme to trick Silk Road’s withdrawal system and steal 50,000 Bitcoin in 2012.

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    Enforcement

    Former TSB Executive Fined Over 2018 IT Migration Failure

    By Editors | 14/04/2023

    TSB Bank’s chief information officer was fined for his management of a key outsourcing relationship fell below expected standards.

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    Enforcement

    ATO to Compel Banks to Hand Over Landlord Data in Tax Probe

    By Editors | 13/04/2023

    The Australian Taxation Office is seeking to identify individuals who are failing to meet their tax obligations on residential investment properties.

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    AML / KYC

    UK Tables Amendment to Introduce ‘Failure to Prevent Fraud’ Offence

    By Editors | 13/04/2023

    Prosecutors will be able to hold large companies to account if they do not have reasonable measures in place to prevent fraud by an employee.

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    Enforcement

    SFC Fines Ninety One HK Unit for Unlicensed Futures Dealing

    By Editors | 12/04/2023

    Ninety One did not have a Type 2 (dealing in futures contracts) licence, believing it could rely on SFO exemptions to deal in futures contracts.

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    Enforcement

    CFTC Fines Goldman Sachs for Swaps Conduct Failures

    By Editors | 12/04/2023

    The CFTC said Goldman touted supposed benefits of same-day swap transactions to clients, but not the corresponding costs.

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    Crypto / Digital Assets

    China Fines Crypto Miner Bitmain for Tax Violations

    By Manesh Samtani | 12/04/2023

    Bitmain’s Beijing unit failed to withhold and pay personal income tax on employees’ salaries and other benefits totalling CNY 16.6 million.

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    Enforcement

    Korean Authorities Investigate Kakao for Market Manipulation

    By Editors | 11/04/2023

    The FSS is investigating whether Kakao manipulated the stock price of K-pop agency SM Entertainment.

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    Crypto / Digital Assets

    New FTX Report Reveals Extent of Control Failures

    By Manesh Samtani | 11/04/2023

    FTX stored private keys in plain text documents without encryption on an FTX group server that was accessible by staff.

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