ENFORCEMENT

Enforcement

Singapore: Ex-Agritrade CFO Pleads Guilty to Deceiving Banks

By Editors | 12/12/2022

The former CFO used false financial statements to obtain loans for Agritrade International and its suppliers, causing over $469mn in losses for up to 12 banks.

Enforcement

FCA Fines Interdealer Brokers Over Inadequate Trade Surveillance

By Editors | 12/12/2022

Between July 2016 and January 2018, BGC Brokers, GFI Brokers and GFI Securities had deficient surveillance processes and insufficient asset class coverage.

Enforcement

US Sanctions Nasdaq Listed Company, Other ‘Corrupt’ Actors

By Manesh Samtani | 12/12/2022

The sanctions were connected to illegal fishing. The US, UK and Australia also sanctioned dozens of others in recognition of International Anti-Corruption Day and Human Rights Day.

Enforcement

SEBI Warns Against Misuse of Whistleblower Policy

By Editors | 11/12/2022

A SEBI official said many whistleblower complaints are frivolous, mischievous or aimed at settling personal scores.

Enforcement

FCA to Ban Ex-Mizuho Traders for Manipulating Italian Bond Futures

By Editors | 11/12/2022

The FCA said the three traders repeated a pattern of “deliberate and intentional market manipulation on a number of occasions and were dishonest.”

Enforcement

US Authorities Fine NYSE-Listed ABB for South Africa Bribes

By Mark Johnston | 10/12/2022

The action was coordinated among US, South African and Swiss authorities. ABB also paid bribery related fines in 2004 and 2010.

Crypto / Digital Assets

US Probes FTX Founder for Suspected Terra Manipulation

By Editors | 09/12/2022

Prosecutors are reportedly looking into whether Sam Bankman-Fried manipulated the prices of TerraUSD and Luna to benefit entities he controlled.

Enforcement

Philippines Jails Former Bankers for Creating False Loans

By Editors | 08/12/2022

Former chief operating officer and former compliance officer of now-defunct Orani Rural Bank created fictitious loans by falsifying documents.

Enforcement

MAS Bans Former UOB, OCBC Representative for 15 Years

By Editors | 08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.