Enforcement

    Enforcement

    US SEC Fines Barclays $361m for Securities Over-issuances

    By Editors | 02/10/2022

    Barclays did not have controls in place to track offers and sales of securities against the amount of registered offers and sales.

    Enforcement

    Enhanced Penalties for Data Breaches Take Effect in Singapore

    By Editors | 02/10/2022

    Organisations with annual turnover exceeding S$10mn are liable for penalties for data breaches worth up to 10% of annual turnover.

    Enforcement

    Japan SESC Seeks Penalty Order Against SMBC Nikko Securities

    By Editors | 30/09/2022

    The SESC has recommended that the FSA punish SMBC Nikko Securities for stock price manipulation and shortfalls in its trading surveillance system.

    Crypto / Digital Assets

    Thai SEC Takes Legal Action Against Wash Trading in Crypto

    By Sanday Chongo Kabange | 30/09/2022

    The prosecution is required because the defendants, including two entities and three individuals, did not agree to the penalties prescribed by the SEC.

    Enforcement

    FSC Korea to Introduce New Penalties for Unfair Trade Practices

    By Sanday Chongo Kabange | 30/09/2022

    Violators could be banned from trading, account opening, and serving as listed company directors for up to 10 years.

    AML / KYC

    US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries

    By Editors | 30/09/2022

    Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.

    Enforcement

    SFC Suspends Hedge Fund Manager for Two Years

    By Editors | 29/09/2022

    The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.

    Enforcement

    SEC, CFTC Fine 16 Firms Over Use of Personal Devices, Chat Messaging

    By Editors | 29/09/2022

    The 16 firms agreed to pay a combined $1.82bn for failing to preserve staff communications on personal mobile devices, messaging apps and emails.

    AML / KYC

    CFTC Penalises Crypto Firm, Pursues First Case Against DAO

    By Editors | 29/09/2022

    Crypto firm bZeroX transferred its software protocol to a DAO and then marketed this as a way to be “enforcement-proof”.

    Enforcement

    ASIC Finalises Guidance on Completing Timely Remediations

    By Editors | 28/09/2022

    ASIC says it should not have to oversee remediations in order for consumers to receive fair and timely outcomes.

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