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Enforcement
Enforcement
SocGen Reaches Settlement Over Unauthorised Messaging Probe
By Editors | 03/08/2023
SocGen said it has reached separate settlements with the SEC and CFTC, both of which were “pending formal regulatory approval.”
Enforcement
ASIC Sues eToro Over Retail Sales of High Risk CFD Products
By Sanday Chongo Kabange | 03/08/2023
ASIC says eToro’s target market was too broad for “such a high-risk and volatile trading product where most clients lose money”.
Enforcement
Australia High Court Calls for Higher Penalty in Foreign Bribery Case
By Editors | 03/08/2023
High Court justices rejected the A$1.35mn fine ordered in a foreign bribery case, deeming it insufficient.
Enforcement
ASIC Warns of More Enforcements in the ‘Coming Months’
By Sanday Chongo Kabange | 03/08/2023
ASIC said it has embedded new data and analytics capabilities into its insider trading surveillance processes.
AML / KYC
FSS Korea Confirms Embezzlement Case at BNK Kyongnam Bank
By Editors | 03/08/2023
A BNK Kyongnam Bank employee was found to have embezzled $44mn over 15 years by fabricating loan documents and using family accounts.
Enforcement
RBI Fines State-run Energy Firms for Reporting Foreign Investments Late
By Editors | 02/08/2023
The RBI fined the four companies a combined $240mn for their delay in reporting overseas investments.
Enforcement
FSS Korea Directs to Foreign Firms to Improve Trading Controls
By Sanday Chongo Kabange | 02/08/2023
The firms erroneously recorded margin trading transactions. One firm also did not properly document reasons for client-directed order amendments.
Crypto / Digital Assets
US SEC Files Charges Over $1bn in Unregistered Crypto Securities Offerings
By Editors | 01/08/2023
Richard Heart misappropriated at least $12mn of offering proceeds to purchase luxury goods, including the largest black diamond in the world.
Enforcement
South Korea Penalises 18 Firms for Short-Selling Violations
By Sanday Chongo Kabange | 01/08/2023
The biggest fines went to QUANTin Asset Management and PFM Asset Management, which were penalised more than a combined KRW 600 million.
AML / KYC
HK Court Convicts 4 Ex-DBS Employees on Bribery Charges
By Sanday Chongo Kabange | 01/08/2023
The four former DBS employees were convicted for divulging confidential customer data to others for touting personal loans.
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