Enforcement

    AML / KYC

    US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries

    By Editors | 30/09/2022

    Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.

    Enforcement

    SFC Suspends Hedge Fund Manager for Two Years

    By Editors | 29/09/2022

    The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.

    Enforcement

    SEC, CFTC Fine 16 Firms Over Use of Personal Devices, Chat Messaging

    By Editors | 29/09/2022

    The 16 firms agreed to pay a combined $1.82bn for failing to preserve staff communications on personal mobile devices, messaging apps and emails.

    AML / KYC

    CFTC Penalises Crypto Firm, Pursues First Case Against DAO

    By Editors | 29/09/2022

    Crypto firm bZeroX transferred its software protocol to a DAO and then marketed this as a way to be “enforcement-proof”.

    Enforcement

    ASIC Finalises Guidance on Completing Timely Remediations

    By Editors | 28/09/2022

    ASIC says it should not have to oversee remediations in order for consumers to receive fair and timely outcomes.

    AML / KYC

    Deutsche Bank to Settle US Shareholder Lawsuit for $26m

    By Editors | 27/09/2022

    Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.

    AML / KYC

    India: ICAI Probes 200 Accountants Over Shell Company Setups

    By Editors | 26/09/2022

    Around 200 chartered accountants are subject to a probe involving shell companies established in India by Chinese firms.

    Enforcement

    Interpol Issues Red Notice for Terraform Labs Founder

    By Mark Johnston | 26/09/2022

    The red notice for Do Kwon was issued at the request of Korean prosecutors, who say he is wanted for alleged capital market violations.

    AML / KYC

    HKMA Penalises Cathay United Bank for AML Deficiencies

    By Editors | 25/09/2022

    Besides CDD and EDD failures, the bank’s risk classification framework was “defective by design” and senior management oversight was “inadequate”.

    Enforcement

    Australian Court Fines AMP for ‘Fees for No Service’ Conduct

    By Editors | 25/09/2022

    The Federal Court said the conduct reflected “very poorly on the organisation culture” of AMP, fining its subsidiaries a total A$14.6mn.

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