Enforcement

Enforcement

FSS Korea Calls on Foreign Firms to Tighten Short Selling Controls

By Manesh Samtani | 08/09/2023

FSS deputy governor Kim Jung-tae asked compliance officers from 23 foreign securities firms to help eradicate naked short selling from the market.

Enforcement

ASIC Files Suit Against PayPal for Unfair Contract Term

By Editors | 07/09/2023

The term in question gives PayPal business account holders 60 days to notify the company of any errors or discrepancies in fees, or else accept those fees as accurate.

Enforcement

Seoul Prosecutors Seek Warrants to Arrest for Former Fund Execs

By Editors | 07/09/2023

Former senior executives of Discovery Asset Management are accused of violating the Capital Market Act, making unfair gains, and improperly diverting investor funds.

Enforcement

ASIC Directs Retail OTC Issuers to Improve DDO Compliance

By Sanday Chongo Kabange | 07/09/2023

ASIC said it will punish issuers of CFDs and other high-risk products for failure to comply with their design and distribution obligations.

Enforcement

Taiwan FSC Suspends Executive for Unlicensed TV Appearances

By Editors | 06/09/2023

Uni-President Investment Consulting was fined and its general manager suspended because she discussed stock analysis on TV without an analyst licence.

Enforcement

MAS Imposes Lifetime Ban on Former Goldman Exec Roger Ng

By Editors | 05/09/2023

Roger Ng is banned from regulated activities in Singapore for life, due to his role in the theft of billions of dollars from 1MDB.

Enforcement

ASIC Sues Westpac for Financial Hardship Misconduct

By Editors | 04/09/2023

ASIC said Westpac’s deficient process resulted in 229 customers not receiving a response to their hardship notice within the required 21 days.

AML / KYC

KoFIU Fines, Suspends Crypto Lender for AML Violations

By Editors | 04/09/2023

Crypto lender Delio failed to assess money laundering risks, had KYC lapses, and failed to restrict transactions with unregistered VASPs.

AML / KYC

Malaysia: BNM Announces Penalties Against Ten Entities

By Editors | 04/09/2023

Seven entities within a group accepted deposits without a licence. Three other entities breached AML/CFT requirements.