ENFORCEMENT

Enforcement

Japanese Shinkin Bank Ordered to Rectify AML Failings

By Thisanka Siripala | 25/03/2025

Ugo Shinkin Bank didn’t implement the FSA’s AML/CFT Guidelines by March 2024 as required.

Enforcement

SFC Penalises Brokerage and MiC for Poor Margin Financing Controls

By Sanday Chongo Kabange | 25/03/2025

The SFC fined Enlighten Securities HKD 5 million and suspended its manager-in-charge for seven months.

AML / KYC

NZ DIA Issues Formal Warning to NZForex for AML Failures

By Thisanka Siripala | 25/03/2025

3,182 transactions over six years were not reported to the FIU due to a system issue that was identified and self-reported by NZForex.

Enforcement

MAS Imposes Six-Year Ban on ex-Financial Adviser

By Mark Johnston | 24/03/2025

A former Professional Investment Advisory Services representative has received a prohibition order for forgery and cheating convictions.

Sanctions

OFAC Publishes Final Rule Extending Record-keeping Requirements

By Editors | 24/03/2025

The extension of record-keeping requirements is meant to align with the extension of the statute of limitations for sanctions violations.

Enforcement

SFC Suspends Former Securities Broker Over ‘Finfluencer’ Activities

By Mark Johnston | 24/03/2025

The former Tse’s Securities representative provided investment advice through a subscription-based chat group on Telegram he hosted without a licence.

Capital / Liquidity

FSS Korea Downgrades Woori Group Following Evaluation

By Nithya Subramanian | 24/03/2025

The FSS said Woori Financial Group demonstrated weaknesses in risk management, oversight of major financial decisions, and internal transaction monitoring.

Crypto / Digital Assets

Korean Authorities Investigate Bithumb Over Embezzlement

By Thisanka Siripala | 21/03/2025

The investigation centres on claims that Bithumb financed a USD 2 million apartment deposit for its former CEO.

Enforcement

SFC Impose 14-Month Ban on Former Fund Manager

By Sanday Chongo Kabange | 21/03/2025

The SFC said the action is related to disciplinary actions against “other related entities” concerning the management of various private funds.