Enforcement

Enforcement

US SEC Charges Brazil’s Vale for “Misleading” ESG Disclosures

By ESG Investor | 28/04/2022

Brazilian mining firm Vale regularly misled local governments, communities, and investors about the safety of its Brumadinho dam through its ESG disclosures.

Enforcement

US Authorities File Charges Against Archegos, Key Executives

By Manesh Samtani | 28/04/2022

The DOJ, CFTC and SEC charged Archegos and four of its executives for defrauding banks and brokers and manipulating the prices of publicly traded securities.

Enforcement

Hong Kong: ICAC Charges Three Over Mortgage Fraud

By Editors | 27/04/2022

A property buyer and two estate agents understated the purchase price so the mortgage would be subject to a lower LTV cap.

Enforcement

MAS Penalises Two CIMB Securities Brokers for False Trading

By Editors | 26/04/2022

The two brokers rigged the market for Kris Wiluan, who was convicted and fined in May 2021 for manipulating the stock prices of KS Energy where he was CEO.

AML / KYC

FSS Korea Launches Probe Over Shinhan Card Frauds

By Editors | 25/04/2022

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

Enforcement

Australian Court Orders Westpac to Pay A$113m in Penalties

By Editors | 25/04/2022

The penalties are the result of six proceedings brought by ASIC in November. Westpac had already agreed to pay the penalties and customer remediation.

Enforcement

US Agencies Target MoneyGram Over Delayed Remittances

By Editors | 24/04/2022

The complaint says the delays caused harm to recipients who were waiting for their money that had become “stuck in” or “looped” in MoneyGram’s systems.

Enforcement

MAS Consults on Revised Misconduct Reporting Requirements

By Manesh Samtani | 24/04/2022

Misconduct reports will have to be submitted to MAS within 21 calendar days after an FI has found reasonable grounds to believe that misconduct has been committed.

Enforcement

CA ANZ May Discipline 12 KPMG Accountants for Cheating

By Editors | 23/04/2022

More than 400 CA ANZ members were found to have cheated on online training tests, but only 12 are being put through the body’s disciplinary process.