Enforcement

AML / KYC

Kuwait Court Sentences Defendants in 1MDB Case

By Editors | 31/03/2023

The son of a former prime minister was sentenced to 10 years in jail. Malaysia financier Jho Low was also sentenced in absentia.

Enforcement

Bankman-Fried Enters Not Guilty Plea to Revised Indictment

By Editors | 31/03/2023

Bankman-Fried previously pleaded not guilty to eight charges. Four charges were added last month and a bribery charge earlier this week.

Capital / Liquidity

NobleOak Life Breached Capital Requirements, Says APRA

By Editors | 31/03/2023

APRA said breaches are being remediated and are not connected to any recent financial market movements or developments.

Crypto / Digital Assets

US SEC Forces Shut Down of Crypto Platform Beaxy

By Sanday Chongo Kabange | 30/03/2023

The SEC charged Beaxy and its affiliates for performing the functions of an exchange, broker, clearing agency, and dealer without registration.

Enforcement

ASIC Commences Probe into Regulatory Breaches by ASX

By Sanday Chongo Kabange | 30/03/2023

ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

ESG / Sustainability

Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

By Editors | 30/03/2023

Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

AML / KYC

Credit Suisse Violated 2014 Plea Deal with US DOJ

By Manesh Samtani | 30/03/2023

UBS could be forced to pay US authorities $1.3bn – the amount Credit Suisse had discounted from its 2014 plea deal.

AML / KYC

Five Banks Searched in French Tax Fraud Probe

By Editors | 29/03/2023

Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

Enforcement

JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

By Editors | 29/03/2023

Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.