ENFORCEMENT

Crypto / Digital Assets

CFTC Allowed to Serve Complaint to DAO Through Website

By Editors | 05/10/2022

The CFTC intends to hold any voting member of the Ooki DAO individually liable for violations of the Commodity Exchange Act and CFTC regulations.

Enforcement

China FX Regulator Fines Ten Banks for Violations

By Editors | 04/10/2022

China Development Bank was handed the largest penalty, amounting to CNY 42.7 million. The other nine banks were fined a combined CNY 6.6 million.

Crypto / Digital Assets

US SEC Fines Celebrity Kim Kardashian for Promoting Crypto

By Editors | 04/10/2022

Kardashian failed to disclose the compensation she received to promote EMAX tokens on Instagram. The case is a warning to other celebrities and influencers.

Enforcement

Hong Kong Charges 13 in Suspects Over Ramp-and-Dump Scheme

By Editors | 03/10/2022

The suspects allegedly used different social media platforms to manipulate the trading in the shares of two Hong Kong-listed companies.

Enforcement

Australian Court Dismisses ASIC Lawsuit Against CBA

By Editors | 03/10/2022

The Federal Court ruled that ASIC failed to establish that CBA received conflicted remuneration when distributing Colonial First State’s superannuation product.

AML / KYC

FINRA Issues New Penalties Guidance for Rule Violations

By Editors | 03/10/2022

Large firms face penalties with no upper limit if they fail to reasonably monitor for and report suspicious transactions.

Capital / Liquidity

APRA Removes CBA’s Remaining A$500m Capital Add-on

By Editors | 03/10/2022

The A$1bn capital add-on imposed on CBA in May 2018 was halved in November 2020, and has now been completely removed.

AML / KYC

US, UK, Canada, Australia Announce More Russia Sanctions

By Manesh Samtani | 03/10/2022

The sanctions are a response to Putin’s attempt to annex four regions of Ukraine, after holding referendums that have been denounced as illegal and coercive.

Enforcement

US SEC Fines Deloitte China Over Audits of US-Listed Companies

By Editors | 02/10/2022

Deloitte China personnel asked certain Chinese clients to select their own samples for testing and prepare their own audit documentation.