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Enforcement
APRA Imposes Licence Conditions on Insignia Group Trustees
By Editors | 04/11/2022
The additional licence conditions require four Insignia trustees to improve their governance and risk management practices, processes and frameworks.
AML / KYC
AUSTRAC Orders AML Audits at Two Corporate Bookmakers
By Editors | 04/11/2022
Sportsbet and Bet365 are among the largest corporate bookmakers in Australia. AUSTRAC chief Nicole Rose said the whole industry is on notice.
Crypto / Digital Assets
US DOJ Resolves Dispute with Google Over BTC-e Data
By Editors | 02/11/2022
Crypto exchange BTC-e was shut down in 2017 for alleged money laundering. At the time, US authorities were unable to obtain data from Google for the investigation because it was held overseas.
Enforcement
Google Fined $275m in India for Anti-Competitive Practices
By Editors | 01/11/2022
Google is ordered to allow the use of third-party payment processing services in its Play Store and not discriminate against apps facilitating UPI payments.
Enforcement
New York Court Dismisses Tom Hayes LIBOR Rigging Case
By Editors | 01/11/2022
US prosecutors had filed a motion to dismiss the case after two other traders were acquitted in January. Hayes is still trying to get his UK conviction overturned.
Enforcement
SMBC Nikko Securities Pleads Guilty to Stock Price Manipulation
By Editors | 30/10/2022
SMBC Nikko has already been ordered to suspend its block trading business for 3 months. The trial is set to end on 26 Dec and a verdict delivered on 13 Feb.
Enforcement
SFC Disciplines Takeovers Code Breach with ‘Public Criticism’
By Editors | 30/10/2022
Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.
AML / KYC
Top Prosecutor Arrests Former China Merchants Bank President
By Editors | 29/10/2022
The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.
Enforcement
ASIC Issues First Penalty Over Greenwashing Concerns
By Editors | 29/10/2022
ASIC said Tlou Energy made “false or misleading sustainability-related statements” in materials filed with ASX about its energy production.
Enforcement
Australia Increases Penalties for Anti-Competitive Conduct
By Editors | 28/10/2022
Maximum penalties for companies can be as high as A$50mn, three times the benefit derived from a breach, or 30% of annual turnover.
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