Enforcement

Enforcement

US Court Allows Use of Crypto Firm’s Records to Identify Tax Cheats

By Editors | 23/08/2022

Crypto prime dealer SFOX will have to reveal the identities of customers who are US taxpayers and information on their crypto transactions.

Enforcement

BSP to Increase Penalties for Misreporting of FX Transactions

By Editors | 23/08/2022

The new penalties regime is intended to help protect the value of the Philippine peso, maintain price stability, and deter future violations.

Enforcement

Australia to Increase Max Penalties for Anti-Competitive Conduct

By Sanday Chongo Kabange | 23/08/2022

The maximum penalties for breaches of competition and consumer laws companies are being raised five-fold for both individuals and corporates.

Crypto / Digital Assets

US SEC Files Suit Against Crypto Entities Over ICO Sale

By Mark Johnston | 22/08/2022

Blockchain firm Dragonchain raised about $16.5mn without registering its token sales as securities offerings.

Enforcement

Shanghai Court Jails Tycoon Xiao Jianhua, Fines Conglomerate

By Editors | 22/08/2022

Xiao Jianhua was handed a 13-year jail term and CNY 6.5 million fine. His company, Tomorrow Holding, was fined CNY 55 billion.

Enforcement

SFC Probes AMTD Over Past Underwriting Deals – Reports

By Editors | 22/08/2022

The full scope of the probe into AMTD Group and its current status are “unclear”, but it is said to be related to previous underwriting deals.

AML / KYC

Korean Authorities to Block, Investigate 16 Foreign Crypto Firms

By Editors | 21/08/2022

The unregistered foreign VASPs including KuCoin were referred for investigation and will have their websites and transactions blocked in Korea.

Enforcement

MAS Penalises Former UOBKH Representative for False Trading

By Editors | 19/08/2022

The former UOB Kay Hian trading representative committed false and unauthorised trading for a client who was himself sentenced in March 2021.

Enforcement

Wirecard-related Charges Filed in Singapore, Philippines

By Editors | 18/08/2022

The charges in Singapore are for criminal breach of trust and money laundering. A bank official in the Philippines was indicted.