Enforcement

Enforcement

Indian Police Busts Crypto-Ponzi Scheme Worth Over $120m

By Mark Johnston | 09/08/2023

The scheme targeted individuals across various regions of India, encouraging them to invest in a fraudulent crypto token known as STA.

Crypto / Digital Assets

Crypto CEO Charged in South Korea for Fraud, Embezzlement

By Editors | 09/08/2023

Bitsonic CEO Jinwook Shin manipulated computer records to inflate prices and trading volumes, and defraud investors.

Enforcement

SEC, CFTC Penalise Firms $555m for Use of Unapproved Messaging Apps

By Manesh Samtani | 09/08/2023

The use of “off-channel” communications was “pervasive and longstanding”. Wells Fargo was penalised $200mn, while BNP Paribas and SocGen were each fined $110mn.

Enforcement

SFC to Gain Powers to Tackle Insider Dealing with Cross-Border Element

By Manesh Samtani | 08/08/2023

The SFC will be better able to address insider dealing perpetrated in Hong Kong involving overseas-listed securities, and insider dealing perpetrated overseas involving HK-listed securities.

Enforcement

Bangladesh Court Orders Probe into Conglomerate’s Offshore Investments

By Mark Johnston | 08/08/2023

The probe will investigate the owner of S Alam Group over an alleged $1bn in investments made offshore without central bank permission.

Capital / Liquidity

SEBI’s Annual Report Highlights Disclosure Rules Strengthening Plan

By Jill Wong | 08/08/2023

Sebi’s annual report highlights plans to strengthen disclosure requirements of unlisted companies.

Enforcement

Australia Announces ‘Crackdown’ on Tax Adviser Misconduct

By Manesh Samtani | 08/08/2023

The maximum penalties for tax advisers who promote tax exploitation schemes will increase 100-fold to more than A$780mn.

Enforcement

FSA Japan Probes Insurers Following Price-Fixing Allegations

By Editors | 06/08/2023

Four insurers allegedly colluded on setting premiums for clients such as oil refiners, steel companies and public transportation operators.

Enforcement

ASIC Sues Ex-Director of Dixon Advisory for Alleged Breach of Duty

By Sanday Chongo Kabange | 05/08/2023

ASIC alleges that Paul Ryan breached his director obligations by not considering the interests of Dixon Advisory’s creditors when the firm was approaching insolvency.