Enforcement

Enforcement

Japan Court Orders SMBC Nikko to Pay 5 Billion Yen Penalty

By Editors | 15/02/2023

SMBC Nikko Securities propped up the prices of ten stocks before arranging block trades between major shareholders and investors.

Enforcement

SEBI Confirms Adani Probe, DBS Explains Exposures

By Manesh Samtani | 14/02/2023

SEBI enquiring into the Hindenburg allegations as well as market activity for regulatory violations. DBS has exposures to Adani Group worth S$1.3bn.

AML / KYC

FCA Investigating Barclays for KYC and AML Incidents

By Editors | 14/02/2023

The FCA reportedly directed Barclays to undergo an independent review due to concerns about a large volume of KYC and AML incidents.

Enforcement

Singapore Charges Former UOB Banker for Selling Fake Products

By Editors | 13/02/2023

The former personal banker induced a victim into transferring funds for investment in fixed deposits and financial products that were never made.

Crypto / Digital Assets

Hermès Wins Trademark Infringement Case Involving NFTs

By Mark Johnston | 13/02/2023

A jury ruled that an artist violated Hermès’ copyright and brand image by selling NFTs depicting the company’s Birkin handbags covered in fur.

Crypto / Digital Assets

UPDATED: NYDFS, SEC Scrutinise Paxos Over BUSD Stablecoin

By Editors | 13/02/2023

Paxos is the issuer of a Binance-branded stablecoin that ranks as the third-largest, as well as its own stablecoin called Pax Dollar, the sixth largest.

Enforcement

US, UK Jointly Sanction Russian Ransomware Actors

By Editors | 12/02/2023

The first-of-its-kind joint action marks the first time suspected ransomware operators have been designated under the UK sanctions regime.

Crypto / Digital Assets

Russian National Pleads Guilty to Money Laundering Conspiracy

By Editors | 11/02/2023

The Russian national and unnamed co-conspirators allegedly laundered at least USD 70 million in ransom proceeds using cryptocurrency.

Crypto / Digital Assets

US SEC Fines Kraken, Forced Shutter of Crypto Staking Programme

By Editors | 10/02/2023

Commissioner Hester Peirce disagreed with the action, saying there isn’t sufficient guidance on the SEC’s regulatory approach to staking programmes.