Enforcement

Enforcement

ASIC Sets Out Enforcement Priorities for 2023

By Sanday Chongo Kabange | 07/11/2022

ASIC will target greenwashing, predatory lending and crypto investment scams, along with other “enduring” priorities involving misconduct and systemic compliance failures by large FIs.

Enforcement

APRA Imposes Licence Conditions on Insignia Group Trustees

By Editors | 04/11/2022

The additional licence conditions require four Insignia trustees to improve their governance and risk management practices, processes and frameworks.

AML / KYC

AUSTRAC Orders AML Audits at Two Corporate Bookmakers

By Editors | 04/11/2022

Sportsbet and Bet365 are among the largest corporate bookmakers in Australia. AUSTRAC chief Nicole Rose said the whole industry is on notice.

Crypto / Digital Assets

US DOJ Resolves Dispute with Google Over BTC-e Data

By Editors | 02/11/2022

Crypto exchange BTC-e was shut down in 2017 for alleged money laundering. At the time, US authorities were unable to obtain data from Google for the investigation because it was held overseas.

Enforcement

Google Fined $275m in India for Anti-Competitive Practices

By Editors | 01/11/2022

Google is ordered to allow the use of third-party payment processing services in its Play Store and not discriminate against apps facilitating UPI payments.

Enforcement

New York Court Dismisses Tom Hayes LIBOR Rigging Case

By Editors | 01/11/2022

US prosecutors had filed a motion to dismiss the case after two other traders were acquitted in January. Hayes is still trying to get his UK conviction overturned.

Enforcement

SMBC Nikko Securities Pleads Guilty to Stock Price Manipulation

By Editors | 30/10/2022

SMBC Nikko has already been ordered to suspend its block trading business for 3 months. The trial is set to end on 26 Dec and a verdict delivered on 13 Feb.

Enforcement

SFC Disciplines Takeovers Code Breach with ‘Public Criticism’

By Editors | 30/10/2022

Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.

AML / KYC

Top Prosecutor Arrests Former China Merchants Bank President

By Editors | 29/10/2022

The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.