Enforcement

Enforcement

CBIRC Imposes Fines on Five Banks for Regulatory Violations

By Editors | 21/02/2023

China Construction Bank, Bank of China, Standard Chartered China, China Minsheng Bank and China Bohai Bank were fined a combined CNY 387.9 million.

Enforcement

China Renaissance’s Founder Reported to be Missing

By Mark Johnston | 20/02/2023

Bao Fan, the founder of boutique investment bank China Renaissance Holdings, is the latest high-profile Chinese executive to go missing without explanation.

ESG / Sustainability

Korean Draft Law to Introduce Fines for Greenwashing

By Editors | 20/02/2023

The Ministry of Environment will fine companies up to KRW 3 million for misleading or false sustainability claims.

Crypto / Digital Assets

US SEC Fines Former NBA Star Over Crypto Promotion

By Editors | 20/02/2023

Paul Pierce promoted crypto asset securities known as EMAX tokens on social media without disclosing that he was paid to do so.

Enforcement

US SEC, CFTC Penalise OCC Over Internal Rule Violation

By Editors | 19/02/2023

As a result of certain deficiencies, the Options Clearing Corp’s clearing fund was “underfunded” at various times between October 2019 and May 2021.

Enforcement

US, UK Sanction Bulgarian Nationals for Corruption Offences

By Editors | 19/02/2023

The UK issued sanctions under its Global Anti-Corruption Sanctions Regime. The US sanctions were imposed under the Magnitsky Act.

Crypto / Digital Assets

CFTC Charges California Firm for ‘Ponzi-like’ Crypto Fraud

By Editors | 17/02/2023

Vista Network Technologies and its CEO advertised to customers that it would trade their digital assets using “robot traders” which did not exist.

Enforcement

Court Issues Australia’s Largest Ever Fine for Disclosure Failures

By Editors | 17/02/2023

Former ASX-listed GetSwift was ordered to pay A$15mn. Three former directors were also penalised.

Crypto / Digital Assets

US SEC Files Securities Fraud Charges Over Terra Collapse

By Editors | 17/02/2023

The Terraform ecosystem was ‘simply a fraud propped up by a so-called algorithmic stablecoin’, says Gurbir Grewal.