ENFORCEMENT

    Enforcement

    SGX RegCo Bars UOBKH from Acting as Issue Manager

    By Editors | 29/12/2022

    SGX RegCo said it has considered actions already taken by MAS and the interests of the market, and decided to impose additional requirements on UOBKH.

    Enforcement

    ASIC Fines Super Fund Trustee Diversa for Alleged Greenwashing

    By Editors | 28/12/2022

    ASIC said the statements made by Diversa Trustees were too broad, potentially misleading consumers about its investment screens.

    Enforcement

    Korea FSS Directs Shinhan, Woori to Improve Controls

    By Editors | 23/12/2022

    The FSS told Shinhan Bank to strengthen its fraud detection system and Woori Bank to improve its post-sale management of fund products.

    Capital / Liquidity

    BaFin Imposes Capital Charge on StanChart’s German Unit

    By Editors | 23/12/2022

    The regulator said the bank’s internal organisation did not meet legal requirements, without disclosing further details.

    AML / KYC

    FTX, Alameda Execs Plead Guilty to US Fraud Charges

    By Manesh Samtani | 23/12/2022

    Caroline Ellison and Gary Wang are cooperating with the investigation into FTX, Alameda and Sam Bankman-Fried, who has been extradited to the US.

    AML / KYC

    Co-Founder of OneCoin Pleads Guilty to Fraud

    By Editors | 22/12/2022

    Karl Sebastian Greenwood faces a maximum of 60 years in person. Co-conspirator Ruja Ignatova is on the FBI’s most wanted list.

    Enforcement

    US, Brazil Settle Honeywell Bribery Charges for Over $200m

    By Editors | 22/12/2022

    Manufacturing conglomerate Honeywell will pay $120mn to Brazilian authorities, $39.4mn to the DOJ, and $42.3mn to the SEC.

    Enforcement

    UK Regulators Fine TSB Bank Over IT Upgrade Failures

    By Editors | 22/12/2022

    An IT system upgrade in April 2018 resulted in nearly 2 million TSB Bank customers being unable to access banking services.

    AML / KYC

    NZ FMA Takes Tiger Brokers to Court for AML Failings

    By Editors | 22/12/2022

    Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain appropriate records.

    Enforcement

    SFC Fines Guosen for Regulatory Breaches Caused by Bugs

    By Editors | 21/12/2022

    Guosen Securities used expired standing authority of clients because its new operating system failed to send renewal notices to clients.

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