ENFORCEMENT

Crypto / Digital Assets

Crypto Firm Voyager Digital Files for Bankruptcy, FDIC Opens Probes

By Editors | 08/07/2022

Voyager previously used wording on a company web page implying that deposit protection could apply in the event of the company’s own failure.

Enforcement

CFTC Fines BNP, JPM for Swap Reporting Violations

By Editors | 06/07/2022

BNP Paribas agreed to pay USD 6 million for failing to correctly report over three million swap transactions. JPMorgan was fined USD 850,000.

AML / KYC

Puerto Rico Forces Closure of Bank Involved in Global Tax Probe

By Manesh Samtani | 06/07/2022

Peter Schiff’s Euro Pacific Bank was forced to close over capital shortfall and regulatory violations. The bank has been at the centre of a global tax evasion probe.

Enforcement

Former Archegos Employee Sues Firm Over Deferred Bonuses

By Manesh Samtani | 06/07/2022

Archegos employees were “coerced” to invest their bonus money into the firm through a deferred compensation plan, which evaporated when the company collapsed last March.

Enforcement

Hong Kong Police Arrest Eight in Joint Operation With SFC

By Editors | 06/07/2022

The joint operation involved a loan granted by a listed company to a related party and payments purportedly made to suppliers that instead went to related parties.

Enforcement

Korea FSS Expands Banking Industry Probe into FX Trading

By Editors | 06/07/2022

The probe was prompted by abnormal trading activity at Woori and Shinhan Bank. Other banks have been asked to conduct internal inspections.

Enforcement

US DOJ Files Charges Against Six Individuals Over Crypto Frauds

By Editors | 04/07/2022

Criminal charges were filed in four separate cases of alleged crypto-related fraud, including the largest known NFT scheme charged to date.

Enforcement

SEBI Fines NSE, Infotech, Six Others Over Algo Trading Scandal

By Editors | 04/07/2022

NSE awarded a contract to Infotech despite conflicts of interest. Confidential NSE data was then misused to develop algorithmic trading software.

Enforcement

Tougher Enforcement, Regulation on ESG Funds a “Wake-up Call”

By ESG Investor | 03/07/2022

DWS whistle-blower Desiree Fixler welcomes enforcement action as necessary to deal with greenwashing.