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Enforcement
UK Regulators Conclude Six-Year Probe Into HBOS Execs
By Manesh Samtani | 30/08/2022
No further action will be taken against former senior managers of HBOS, which collapsed in 2008 during the height of the 2008 global financial crisis.
Enforcement
Korean Regulators Start Short-selling Inspections at Foreign Firms
By Editors | 30/08/2022
The FSS has launched an inspection of Morgan Stanley’s short-selling practices. Similar inspections at BAML and Goldman Sachs will come next.
Enforcement
Myanmar Warns Against Illegal Foreign Exchange Trading
By Mark Johnston | 29/08/2022
The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
Enforcement
Bangladesh Bank Intensifies Crackdown on Illegal FX Transactions
By Mark Johnston | 29/08/2022
Dozens of money changers are being investigated for money laundering. Several banks are accused of making “excessive” profits from dollar sales.
Enforcement
HKMA Fines Commerzbank for CDD & PEP Screening Failures
By Editors | 29/08/2022
The HKMA found control lapses in onboarding due diligence as well as ineffective procedures for determining whether beneficial owners were PEPs.
Enforcement
MAS Fines Noble Group Over Misleading Financial Statements
By Editors | 25/08/2022
The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.
Enforcement
FCA Fines Citi’s UK Unit Over Trade Surveillance Issues
By Editors | 24/08/2022
The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.
Crypto / Digital Assets
FDIC Orders Crypto Firms to Correct Misrepresentations
By Editors | 24/08/2022
Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.
Crypto / Digital Assets
Korean Police Pilots Crypto Seizures to Settle Unpaid Fines
By Editors | 24/08/2022
The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.
Enforcement
SG Police Make Series of Arrests Targeting Scam Syndicates
By Editors | 24/08/2022
4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.
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