ENFORCEMENT

Enforcement

China: Another Senior Executive Probed for Chip Fund Fraud

By Editors | 22/09/2022

Another senior investment manager of Sino IC Capital is being probed for fraud involving China’s biggest investment fund for the chip sector.

Enforcement

Australia Court Orders Retrial of Banned Mayfair 101 Director

By Editors | 21/09/2022

ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.

Securities / Derivatives

HK Police, FRC Sign MoU on Combatting Commercial Crime

By Editors | 21/09/2022

Collaboration is needed to protect the public interest and maintain financial market integrity, said FRC chairman Kelvin Wong.

Enforcement

Bank of East Asia Exec Detained in China for Taking Bribes

By Editors | 19/09/2022

The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.

AML / KYC

US Unveils Comprehensive Plans for Regulating Digital Assets

By Manesh Samtani | 18/09/2022

Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.

AML / KYC

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

By Editors | 17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.

AML / KYC

US Imposes New Sanctions on Russian Targets

By Manesh Samtani | 16/09/2022

The US and EU are also discussing plans target Turkish banks that have joined Russia’s Mir payment system. Putin unexpectedly admitted to tensions with Xi.

Enforcement

SEBI Probes AIFs Over Non-transparent Practices – Report

By Editors | 15/09/2022

At least 20 alternative investment funds are under scrutiny for practices such as dividend stripping, priority payouts, and opaque valuation policies.

Enforcement

ASIC Places Interim Stop Orders on Two Property Funds

By Editors | 15/09/2022

The orders prevent the funds from being offered or distributed to consumers until deficiencies in their TMD statements are addressed to ASIC’s satisfaction.