Enforcement

Crypto / Digital Assets

US Treasury Lobbies for Powers to Pursue Foreign Crypto Firms

By Editors | 30/11/2023

Deputy Secretary Wally Adeyemo said Treasury is calling for legislation authorising OFAC to exercise extraterritorial jurisdiction over transactions in USD-pegged stablecoins.

Enforcement

Taiwan FSC Fines Shanghai Commercial & Savings Bank

By Sanday Chongo Kabange | 30/11/2023

The FSC fined Shanghai Commercial and Savings Bank over leaks of personal data involving 14,000 bank customers.

Enforcement

Korean Banks, Brokers, Execs Sanctioned Over Mis-sold Funds

By Editors | 30/11/2023

A number of CEOs and former CEOs were sanctioned over the mis-selling of funds tied to Lime Asset Management and Optimus Asset Management.

AML / KYC

HKMA Fines Local Branch of CA Indosuez for AMLO Breaches

By Sanday Chongo Kabange | 30/11/2023

The HKMA fined CA Indosuez’s Hong Kong branch for failing to continuously monitor business relationships with some clients.

Crypto / Digital Assets

The Boiling Frog: Finfluencers in the Investment Management Industry

By Pankaj Sharma | 29/11/2023

Pankaj Sharma and Phoebe Chan discuss the complexities of regulating financial promotions online, finfluencers in particular, and offer recommendations.

Crypto / Digital Assets

HK SFC Under Fresh Scrutiny Over Crypto Platform Hounax

By Sanday Chongo Kabange | 28/11/2023

The SFC is being accused of playing a “passive role” by not blocking suspicious crypto trading platform Hounax and preventing it from contacting the public.

Crypto / Digital Assets

HK Police Arrest 30 in Connection with Alleged JPEX Fraud

By Editors | 28/11/2023

A total 66 individuals have now been arrested, though they have not yet been charged and have all been released on bail pending investigation.

Enforcement

Chinese Police Launch Criminal Probe into Zhongzhi Group

By Mark Johnston | 27/11/2023

The announcement came just days after Zhongzhi, one of the largest conglomerates in China’s shadow finance sector, said it was insolvent.

Enforcement

Korean Regulator Probes Sales of High Risk Derivatives

By Editors | 27/11/2023

Korean banks and brokerage firms sold equity-linked securities tied to the HSCEI, which has fallen more than 50 percent from its peak in 2021.