ADVERTISEMENT
Enforcement
MAS Bans Former OCBC Representative for Five Years
By Editors | 24/02/2022
The former representative was convicted of forgery in the State Courts last year, leading MAS to believe she would not perform financial advisory services honestly.
Enforcement
Seoul Court Declares Lime Asset Management Bankrupt
By Editors | 23/02/2022
Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.
Enforcement
Australian Court Orders Super Trustee to Pay A$20m
By Editors | 22/02/2022
Aware Financial Services Australia charged over 25,000 customers over AUD 50 million in fees for financial services it did not provide.
AML / KYC
Korea’s KT Corp to Pay $6.3m for FCPA Violations
By Editors | 21/02/2022
KT Corp maintained slush funds for nearly a decade which were used by executives and employees to bribe Korean and Vietnamese officials.
Fintech / Regtech
US DOJ Appoints First Director of National Crypto Enforcement Team
By Editors | 20/02/2022
The FBI has meanwhile created a new “Virtual Asset Exploitation Unit”, which will provide analysis, support, training and new tools to stay ahead of future crypto-related threats.
Enforcement
UK HMRC Seizes Three NFTs in Fraud Investigation
By Editors | 20/02/2022
Three people were arrested on suspicion of attempting to defraud HMRC using 250 fake companies. This is the first time a UK agency has seized NFTs.
Enforcement
FSC Korea Fines IBK and Fund Manager Over Mis-sold Funds
By Editors | 20/02/2022
Industrial Bank of Korea also has to suspend its private fund sales operations for 1 month. Discovery Asset Management and its CEO are suspended for 3 months.
Enforcement
FSA Issues Business Improvement Order to Mizuho, Again
By Editors | 18/02/2022
The business improvement order requires Mizuho and its parent to report to the FSA about the cause of another system failure which halted ATM operations on 11 February.
Enforcement
US Agencies Probe Block Trading Practices at Banks, Hedge Funds
By Editors | 17/02/2022
The DOJ and SEC are reportedly examining whether banks may have improperly alerted hedge funds ahead of market-moving block trades.
Enforcement
HK Court Orders Illicit Insider Dealing Profits to Be Returned
By Editors | 17/02/2022
Illicit profits made from insider dealing in the shares of GEM-listed TeleEye Holdings in 2016 will be returned to 63 investors.
JOIN OUR NEWSLETTER
A daily selection of top stories from the Regulation Asia editorial team