Enforcement

Enforcement

MAS Fines Noble Group Over Misleading Financial Statements

By Editors | 25/08/2022

The S$12.6mn fine is understood to be the largest fine for the publication of misleading financial statements in Singapore’s history.

Enforcement

FCA Fines Citi’s UK Unit Over Trade Surveillance Issues

By Editors | 24/08/2022

The FCA said Citigroup did not properly implement MAR requirements to monitor orders and trades to detect market abuse.

Crypto / Digital Assets

FDIC Orders Crypto Firms to Correct Misrepresentations

By Editors | 24/08/2022

Five crypto firms were ordered to correct false representations stating or suggesting that certain crypto-related products are FDIC-insured.

Crypto / Digital Assets

Korean Police Pilots Crypto Seizures to Settle Unpaid Fines

By Editors | 24/08/2022

The programme was introduced as a way to collect unpaid fines in a contactless way. The amount seized reportedly exceeded all collections made in the last three years.

Enforcement

SG Police Make Series of Arrests Targeting Scam Syndicates

By Editors | 24/08/2022

4 were arrested over phishing scams targeting bank customers, and another 13 as part of a joint operation with Malaysian police.

AML / KYC

Malaysia: Federal Court Upholds Najib Razak Conviction

By Editors | 24/08/2022

Najib was convicted in 2020 on 1MDB-related charges. The federal court upheld the conviction, requiring him to serve a 12 year jail sentence.

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.