Enforcement

Enforcement

Swiss Competition Commission Opens Probe Into 34 Banks

By Editors | 07/12/2022

The banks regularly exchanged information about the salaries of certain categories of employees, potentially breaching Switzerland’s antitrust law.

AML / KYC

International Operation Targeting Money Mules Yields 2,500 Arrests

By Editors | 07/12/2022

The operation involved law enforcement agencies in 25 countries including Singapore and Australia, supported by Europol, Eurojust, INTERPOL and the EBF.

Enforcement

ASIC Sues Amex in First Court Case Involving DDO Breaches

By Editors | 07/12/2022

ASIC alleges that American Express Australia breached its design and distribution obligations in relation to two credit cards it issued and co-branded with retailer David Jones.

Securities / Derivatives

FSC Korea Unveils Plans to Disclose Names of Rule Breakers

By Editors | 06/12/2022

The FSC said disclosing the names of those who breach short selling rules or create market disturbances will create a deterrence effect and reduce illegal activities in capital markets.

Enforcement

UK Regulator Fines Barclays Over Non Transparent Card Fees

By Editors | 04/12/2022

Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.

Securities / Derivatives

China Targets Investment Banking Controls at Securities Firms

By Editors | 04/12/2022

CSRC penalises multiple securities firms. New evaluation system will lead to more intense supervision of firms with lower-quality investment banking practices.

AML / KYC

UK Sanctions 22 Russian Officials for Conscription Efforts

By Editors | 04/12/2022

The sanctions target officials who have promoted and enforced the conscription of citizens to fight in Russia’s “illegal war in Ukraine”.

AML / KYC

FCA Fines Julius Baer UK Unit for Over ‘Corrupt’ Finders Fees

By Editors | 03/12/2022

Julius Baer improperly paid “corrupt” finder’s fees to a Yukos Group employee in exchange for business from the now-defunct Russian conglomerate.

Enforcement

US Financial Firms to Spend $18bn on Surveillance Tech This Year

By Editors | 03/12/2022

The increased spending comes after multiple financial firms were fined for failing to monitor and keep records on employees’ communications via messaging apps.