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Enforcement
Shanghai Bourse Probes First STAR Market Securities Fraud Case
By Editors | 12/04/2022
An optical storage equipment supplier is being investigated for failing to disclose that it granted loans to shareholders and other entities in exchange for pledged assets.
AML / KYC
New York Court Convicts Ex-Goldman Exec in 1MDB Case
By Editors | 11/04/2022
Following an eight-week trial, former Goldman Sachs managing director Roger Ng was convicted on charges of bribery and money laundering. He faces up to 30 years in prison.
Enforcement
Westpac Super Trustee Fined for Overcharging Commissions
By Editors | 10/04/2022
On top of a A$20mn penalty, BT Funds Management will pay A$9.8mn in remediation to over 9.900 superannuation members.
Enforcement
ASIC Charges Firm for Offering Crypto Loans Without Credit Licence
By Sanday Chongo Kabange | 09/04/2022
ASIC has charged Helio Lending for falsely representing that it had a credit licence that allowed it to offer cryptocurrency-backed loans.
Enforcement
Singapore Court Upholds Convictions of Russian, Singapore Nationals
By Editors | 08/04/2022
The two men served as resident directors for companies, declaring themselves rather than their Russian clients as the beneficial owners.
Enforcement
Westpac Penalised in Consumer Credit Insurance Mis-selling Case
By Editors | 08/04/2022
Westpac issued consumer credit insurance policies to customers who did not request the product, then asserted a right to payment which customers were not liable for.
AML / KYC
US, German Authorities Target World’s Largest Darknet Market
By Manesh Samtani | 07/04/2022
OFAC has sanctioned Russia-based website Hydra Market and crypto exchange Garantex for facilitating transactions for ransomware actors.
AML / KYC
Singapore Jails Man for Money Laundering, Email Fraud
By Editors | 07/04/2022
The man received funds in his and his company’s bank accounts that were derived from chearing offences perpetrated overseas and locally.
AML / KYC
Singapore Tightens Laws on Technology Risk, Crypto Assets
By Sanday Chongo Kabange | 06/04/2022
FIs would face penalties over SGD 1 million for breaching TRM requirements. VASPs will have to be licensed to offer services in Singapore.
Enforcement
Korea: FSC, FSS Relaunch Special Investigations Team
By Editors | 05/04/2022
The team comprises officials from the FSC and FSS, who will be authorised to investigate illegal acts in the capital market more quickly.
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