Enforcement

AML / KYC

US Authorities Fine Ericsson $200m for Breaching 2019 DPA

By Editors | 04/03/2023

Ericsson breached a 2019 deferred prosecution agreement intended to resolve a probe into 17 years of alleged corruption in Djibouti, China, Vietnam, Indonesia, and Kuwait.

AML / KYC

China Charges Ex-President of China Merchant Bank for Corruption

By Editors | 04/03/2023

Tian Huiyu, who built China Merchants Bank into the nation’s top retail bank, faces charges related to abuse of power, insider trading, and leaking internal information.

ESG / Sustainability

ACCC Internet Sweep Reveals Widespread Greenwashing by Businesses

By Sanday Chongo Kabange | 03/03/2023

Out of 247 businesses reviewed during the ACC’s internet sweep, 57 percent made “concerning claims about their environmental credentials”.

Enforcement

ASIC Issues New Guidance on Whistleblower Programmes

By Sanday Chongo Kabange | 03/03/2023

The guidance is intended to help entities improve their whistleblower handling arrangements and encourage speak up.

Enforcement

HKEX Warns Issuers Against Using “Partial Truth” Disclosures

By Editors | 02/03/2023

Disciplinary action may follow if an announcement is misleading as a result of omission of material information, HKEX said.

AML / KYC

Abu Dhabi State Funds to Pay $1.8b Settlement to 1MDB

By Editors | 01/03/2023

Executives at the two Abu Dhabi funds facilitated the theft of billions of dollars from 1MDB. The settlement ends proceedings in the UK.

Crypto / Digital Assets

Third FTX Executive Pleads Guilty to US Fraud Charges

By Manesh Samtani | 01/03/2023

Nishad Singh created the software code that allowed FTX customer funds to be diverted to the Alameda Research hedge fund.

Crypto / Digital Assets

Class Action Alleges Banks, VC Firms Were Complicit in FTX Fraud

By Manesh Samtani | 01/03/2023

The lawsuit seeks damages from four banks, one banking executive, ten investment firms, a law firm, and two accounting firms.

Enforcement

Five Banks Settle Allegations They Aided Ponzi Scheme

By Mark Johnston | 28/02/2023

Toronto-Dominion Bank, HSBC Holdings, Independent Bank Group, Societe Generale and Trustmark Corp agreed to pay a combined USD 1.6 billion.