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Enforcement
Bank of East Asia Exec Detained in China for Taking Bribes
By Editors | 19/09/2022
The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.
AML / KYC
US Unveils Comprehensive Plans for Regulating Digital Assets
By Manesh Samtani | 18/09/2022
Reports released by the White House, Treasury, Commerce and DOJ will help ensure a coordinated and comprehensive approach to digital assets policy.
AML / KYC
Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank
By Editors | 17/09/2022
Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.
AML / KYC
US Imposes New Sanctions on Russian Targets
By Manesh Samtani | 16/09/2022
The US and EU are also discussing plans target Turkish banks that have joined Russia’s Mir payment system. Putin unexpectedly admitted to tensions with Xi.
Enforcement
SEBI Probes AIFs Over Non-transparent Practices – Report
By Editors | 15/09/2022
At least 20 alternative investment funds are under scrutiny for practices such as dividend stripping, priority payouts, and opaque valuation policies.
Enforcement
ASIC Places Interim Stop Orders on Two Property Funds
By Editors | 15/09/2022
The orders prevent the funds from being offered or distributed to consumers until deficiencies in their TMD statements are addressed to ASIC’s satisfaction.
AML / KYC
OFAC Sanctions Iranian Actors Over Ransomware Activity
By Editors | 15/09/2022
OFAC said the IRGC-affiliated group has launched extensive campaigns across the globe targeting defence, diplomatic, government and private industry personnel.
Enforcement
Korea Issues Arrest Warrants for Terra Founder, Five Others
By Editors | 14/09/2022
Prosecutors say Terra coins were investment securities under Korea’s capital markets law. Do Kwon is alleged to have committed fraud.
AML / KYC
UN Official Calls for Removal of All Iran Sanctions
By Manesh Samtani | 14/09/2022
Alena Douhan calls on the US and its allies to lift all sanctions and other restrictions against Iran, and invites the UN to propose mechanisms of compensation, remedy and redress.
Enforcement
Australia Tables Bill to Establish Compensation Scheme of Last Resort
By Manesh Samtani | 13/09/2022
Some in the industry have expressed concerns that the CSLR does not go far enough, as its scope does not cover managed investment schemes.
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