Enforcement

Crypto / Digital Assets

US Prosecutors Unveil More Charges Against FTX Founder

By Editors | 26/02/2023

The additional charges allege that Sam Bankman-Fried conspired to commit bank fraud and to make more than 300 illegal political donations.

Crypto / Digital Assets

US Indicts Russian Actors Over Crypto Pyramid and Ponzi Scheme

By Editors | 24/02/2023

The charges include one count of conspiracy to commit wire fraud for each of the four defendants, who were among the 11 charged by the SEC last year.

Enforcement

MAS Seeks to Ramp Up Hiring for Enforcement Department

By Editors | 24/02/2023

MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.

Crypto / Digital Assets

Regulatory Scrutiny Causing Seismic Shifts in Stablecoin Market

By Sam Chen | 24/02/2023

Since the NYDFS ordered Paxos to stop minting BUSD, the world’s third-largest stablecoin, its market cap has shrunk by over $4bn.

AML / KYC

AUSTRAC Accepts Enforceable Undertaking from Cash Converters

By Editors | 22/02/2023

The personal finance company’s AML/CTF programme was not properly implemented and did not include sufficient details on transaction monitoring and CDD.

Enforcement

Wells Fargo, HSBC Drawn into SEC Whatsapp Probe

By Editors | 22/02/2023

Wells Fargo said regulators are investigating its compliance with records-retention requirements. HSBC said it is close to a settlement with regulators.

AML / KYC

NYDFS Enhances Capabilities to Detect Crypt-related Crime

By Editors | 22/02/2023

The additional capabilities will help NYDFS detect insider trading, market manipulation, and front-running activity.

Enforcement

CBIRC Imposes Fines on Five Banks for Regulatory Violations

By Editors | 21/02/2023

China Construction Bank, Bank of China, Standard Chartered China, China Minsheng Bank and China Bohai Bank were fined a combined CNY 387.9 million.

Enforcement

China Renaissance’s Founder Reported to be Missing

By Mark Johnston | 20/02/2023

Bao Fan, the founder of boutique investment bank China Renaissance Holdings, is the latest high-profile Chinese executive to go missing without explanation.