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Enforcement
Enforcement
SEBI Probing Related Party Transactions at Adani Group
By Editors | 04/04/2023
SEBI is probing three offshore entities which entered into investment transactions with unlisted Adani Group units over the last 13 years.
Enforcement
US SEC Fines Merrill Lynch for FX Fee Disclosure Failures
By Editors | 04/04/2023
Merrill Lynch agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling more than $9.5mn and to distribute funds to harmed clients.
Capital / Liquidity
US Lawmakers Propose ‘Failed Bank Executives Clawback Act’
By Editors | 04/04/2023
The proposed bill would require the FDIC to claw back “all or part” of the compensation paid to executives in the five years preceding a bank’s failure.
Capital / Liquidity
Swiss Prosecutor Opens Criminal Probe Into Credit Suisse Takeover
By Editors | 03/04/2023
The prosecutor is looking into potential breaches of Switzerland’s criminal law by government officials, regulators and bank executives.
Enforcement
US SEC Charges Two Over SPAC Insider Trading Scheme
By Sanday Chongo Kabange | 02/04/2023
The duo used non-public information in advance of at least 7 merger announcements involving SPACs to earn illicit profits of more than $3.4mn.
Enforcement
Fed, OFAC Penalise Wells Fargo for Sanctions Non-Compliance
By Editors | 02/04/2023
Wells Fargo’s predecessor, Wachovia, provided software that was used by a foreign bank to process USD 532 million in prohibited transactions.
Enforcement
US Court Dismisses Archegos-related Lawsuit Against Banks
By Editors | 01/04/2023
The judge ruled that Goldman Sachs and Morgan Stanley were not liable to investors for selling stocks they knew Archegos would be forced to sell.
AML / KYC
UK Unveils New Plan to Tackle Economic Crime
By Sanday Chongo Kabange | 31/03/2023
The plan involves hiring 475 specialist investigators, investing in technology and data analytics, and establishing a new multi-agency crypto cell.
Crypto / Digital Assets
IOSCO Issues Final Guidance on Mitigating Risks to Retail Investors
By Manesh Samtani | 31/03/2023
IOSCO offers a comprehensive toolkit of measures for regulators to consider when addressing crypto scams, greenwashing and other forms of retail misconduct.
AML / KYC
Kuwait Court Sentences Defendants in 1MDB Case
By Editors | 31/03/2023
The son of a former prime minister was sentenced to 10 years in jail. Malaysia financier Jho Low was also sentenced in absentia.
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