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Crypto / Digital Assets
US DOJ Charges Ex-Coinbase Employee for Insider Trading
By Manesh Samtani | 25/07/2022
A former Coinbase employee and two others were charged. The SEC’s parallel action classifies 9 crypto tokens as securities. Coinbase files a petition.
Enforcement
UK FRC Scrutinises Audit Firms’ Exam Cheating Controls
By Editors | 24/07/2022
The UK Financial Reporting Council asked 7 audit firms to detail the controls that are in place to prevent and detect cheating in professional exams.
Enforcement
China CAC Fines Didi ¥8bn for Data Security Breaches
By Editors | 22/07/2022
The fine is seen as a sign that China’s regulatory crackdown in the tech sector is winding down. Didi is expected to be able to resume normal operations.
Enforcement
SFC Fines RBC Investment Services for Mishandling Client Assets
By Editors | 21/07/2022
The SFC said RBC Investment Services failed to segregate client money and transferred securities from client accounts without valid standing authority.
Enforcement
ASIC Imposes Eight Year Bans Over Pressure Selling of CFDs
By Editors | 21/07/2022
Two executives have been banned for eight years after their firm engaged in “unconscionable conduct” including the use of pressure selling tactics.
AML / KYC
PBOC Beijing Penalises Didi Pay for AML Violations
By Editors | 19/07/2022
The violations included failure to confirm the real identities of users, conduct checks on unusual transactions, and report major risks in a timely manner.
AML / KYC
New Zealand Court Dismisses Appeal of First AML Act Convictions
By Editors | 19/07/2022
Jiaxin Finance, its sole director and his mother were sentenced to pay fines for AML/CFT violations in 2020. Their appeals have been dismissed.
Enforcement
Singapore Police Lay Fraud Charges Against Zenrock Founder
By Editors | 18/07/2022
The founder and his former operations executive were charged for cheating Bank of China, HSBC and Credit Agricole CIB.
Enforcement
SFC Bans Former StanChart Representative for Three Years
By Editors | 18/07/2022
The representative’s mother transferred funds into five customers’ payroll accounts to improve his work performance.
Enforcement
ACCC Issues First Penalty for CDR Breach Against BOQ
By Sanday Chongo Kabange | 14/07/2022
This is the first infringement notice the ACCC has issued for an alleged breach of the CDR rules as BOQ pays penalty.
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