Enforcement

Enforcement

ASIC Sues Payday Lender Over ‘Prohibited’ Fees

By Editors | 09/06/2022

The case involves over 670,000 contracts entered into by Sunshine Loans that included an amendment or rescheduling fee that is not permitted.

Enforcement

Two Taiwan Banks Fined Over Misappropriated Customer Funds

By Editors | 09/06/2022

Mega Bank and Huanan Bank were each fined TWD 4 million fine for internal control failures which allowed cashiers to misappropriate customer funds.

Securities / Derivatives

CBIRC Fines Two Banks, Wealth Management Subsidiaries

By Editors | 09/06/2022

Bank of China, China Everbright Bank, and their two wealth management subsidies were fined a total of almost CNY 15 million.

Enforcement

Australian Man Pleads Guilty to Pump and Dump Scheme

By Editors | 08/06/2022

The man, Gabriel Govinda, will be the first to be convicted in Australia over a social media pump-and-dump scheme.

AML / KYC

DOJ Calls for Stronger International Cooperation on Crypto Crime

By Editors | 08/06/2022

The paper says the US should help foreign nations develop the tools, technical expertise, and infrastructure necessary to conduct complex crypto-related investigations.

Enforcement

China: New Rules for Insurers Target Related Party Transactions

By Darien Choong | 06/06/2022

The CBIRC has also named 43 more shareholders of banks and insurers who it says have violated regulations.

AML / KYC

Former CSRC Official Sentenced to Death With Reprieve

By Editors | 05/06/2022

A former CSRC official and Communist Party city chief was found to have taken $41mn in bribes between 2004 and 2020.

Crypto / Digital Assets

Korea FSS Probes Use of Crypto by Payment Firms

By Manesh Samtani | 04/06/2022

Regulators also plan to launch a ‘Digital Assets Committee’ this month to bring additional safeguards and regulatory structure to Korea’s crypto industry.

Crypto / Digital Assets

CFTC Files Suit Against Winklevoss-founded Crypto Exchange

By Editors | 03/06/2022

The CFTC says Gemini misled the regulator about whether it could prevent manipulation in the prices used as a benchmark for a bitcoin futures contract.