Enforcement

Crypto / Digital Assets

Korean Police Probe Possible Embezzlement at Terraform Labs

By Editors | 13/06/2022

Crypto exchanges are also being asked to draft guidelines on the listing and delisting of digital tokens, so as to protect investors from another Terra-like collapse.

Enforcement

SFC Proposes SFO Revisions to Improve Enforcement Tools

By Sanday Chongo Kabange | 13/06/2022

The amendments relate to SFO provisions on remedial orders, insider dealing, and advertising of investment products.

AML / KYC

Japan Ministry Seeks Powers to Confiscate Crypto Assets

By Editors | 12/06/2022

Japan’s organised crime law currently only allows seizures of real property, movable assets and monetary claims, but not crypto assets.

Enforcement

ASIC Issues Guidance on Financial Adviser Warnings, Reprimands

By Editors | 12/06/2022

ASIC can issue a warning or reprimand to a financial adviser in circumstances where it does not plan to take stronger enforcement action.

Enforcement

US Ruling Calls Into Question Key SEC Enforcement Mechanism

By Editors | 12/06/2022

The Fifth Circuit court ruled that the SEC’s use of in-house administrative law judges deprived the petitioners of the right to a jury trial.

Enforcement

Singapore Police Arrest Eight Involved in SMS Phishing Scams

By Editors | 10/06/2022

The scammers were arrested after more than SGD 60,000 was lost in SMS phishing scams targeting DBS customers.

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.