Enforcement

Crypto / Digital Assets

US Court Rules Crypto Firm LBRY Sold Unregistered Securities

By Manesh Samtani | 09/11/2022

Industry watchers say the ruling could have implications for the SEC’s suit against Ripple, which was charged in December 2020 with selling unregistered securities.

AML / KYC

New Zealand DIA Issues Warning to BNPL Provider Openpay

By Editors | 09/11/2022

Openpay failed to establish, implement, and maintain an AML/CFT programme and to adequately monitor accounts and transactions.

Enforcement

SFC Fines Asset Manager Over Discretionary Trading Controls

By Editors | 09/11/2022

Internal control failures were identified after a client complained that discretionary options trades fell outside the scope of the mandate.

AML / KYC

UK Court Orders Glencore to Pay Over $300m for Africa Oil Bribes

By Editors | 08/11/2022

The SFO found that Glencore funnelled about $29mn worth of bribes between 2011 and 2016 to gain access to oil rights across Africa.

Enforcement

Federal Court Finds NAB Knowingly Overcharged Customers

By Editors | 08/11/2022

NAB became aware of the issue in January 2017 and did not stop overcharging customers until February 2019, court documents say.

Crypto / Digital Assets

US Agents Seized Over $3.3bn in Silk Road’s Bitcoin Last Year: DOJ

By Editors | 08/11/2022

Over 50,000 Bitcoin, stolen from online marketplace Silk Road in 2012, was seized in November 2021 and has since lost more than two-thirds of its value.

AML / KYC

China Investigates Top PBOC Official for Possible Corruption

By Editors | 07/11/2022

PBOC deputy governor Fan Yifei has been placed under investigation over allegations of “severe violations of discipline and law”.

Enforcement

Singapore High Court Considers 40 Year Jail Term for Manipulator

By Editors | 07/11/2022

Prosecutors are reportedly asking the court to impose a 40-year jail sentence on John Soh Chee Wen, the mastermind of the 2013 penny stock crash.

Enforcement

ASIC Sets Out Enforcement Priorities for 2023

By Sanday Chongo Kabange | 07/11/2022

ASIC will target greenwashing, predatory lending and crypto investment scams, along with other “enduring” priorities involving misconduct and systemic compliance failures by large FIs.