Enforcement

Enforcement

Taiwan FSC Fines Cathay United Bank Again Over Outages

By Editors | 06/01/2023

The fine is the highest ever imposed against a bank by the FSC for IT-related issues. The bank’s president will also have his salary cut for three months.

Enforcement

Former BlackRock Portfolio Manager Fined Over Undisclosed Conflict

By Editors | 05/01/2023

The portfolio manager failed to disclose that he had asked an investee company to help advance his daughter’s acting career and that it helped her obtain a film role.

Enforcement

New York: Former SPAC CFO Pleads Guilty to Fraud Charges

By Editors | 05/01/2023

The former CFO embezzled money from a SPAC to pay for personal expenses and trade in meme stocks and crypto assets. He also incorporated two other SPACs to conceal his theft.

ESG / Sustainability

ASIC Fines Another Listed Energy Firm for Alleged Greenwashing

By Editors | 05/01/2023

ASIC says Black Mountain Energy made misleading statements in three ASX announcements regarding a natural gas development project.

AML / KYC

NYDFS Ends Coinbase AML Probe With $100m Settlement

By Editors | 05/01/2023

The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.

Enforcement

FSC Korea Reorganises Capital Market Fraud Investigation Unit

By Editors | 05/01/2023

The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.

Crypto / Digital Assets

Korean Court Jails Former Crypto Execs for Running Ponzi Scheme

By Editors | 04/01/2023

Crypto exchange V Global promised to triple investments in six months, then used funds from new members to make payouts to existing members.

Crypto / Digital Assets

US Court Sets October Date for Bankman-Fried Trial

By Manesh Samtani | 04/01/2023

Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.

Enforcement

CSRC Bars Two Online Brokers from Onboarding Mainland Investors

By Editors | 04/01/2023

Futu Holdings and Tiger Brokers have been offering offshore trading services to mainland clients though they are not licensed in China.