Enforcement

Enforcement

US Agencies Probe Block Trading Practices at Banks, Hedge Funds

By Editors | 17/02/2022

The DOJ and SEC are reportedly examining whether banks may have improperly alerted hedge funds ahead of market-moving block trades.

Enforcement

HK Court Orders Illicit Insider Dealing Profits to Be Returned

By Editors | 17/02/2022

Illicit profits made from insider dealing in the shares of GEM-listed TeleEye Holdings in 2016 will be returned to 63 investors.

AML / KYC

AUSTRAC Orders Bell Financial to Address AML Compliance Issues

By Editors | 17/02/2022

An external auditor has to be appointed to examine AML compliance at three entities within the Bell Financial Group.

Enforcement

Advice Compensation Paid by Aussie Majors Tops A$3b

By Editors | 16/02/2022

As at end-2021, Australia’s major banks have paid or offered a total A$3.15 billion in compensation as a result of fees-for-no-service misconduct and non-compliant advice.

AML / KYC

MAS Tables Bill to Obtain Enhanced Regulatory Powers

By Sanday Chongo Kabange | 15/02/2022

The Financial Services and Markets Bill will give MAS enhanced regulatory powers to address misconduct, crypto asset and technology risks.

AML / KYC

SFC Fines South China Commodities for AML Breaches

By Editors | 14/02/2022

This is the third action the SFC has taken against a licensed firm over the use of Xinguanjia, a customer supplied system provided by Hengxin Software.

Enforcement

Prosecutors Drop Criminal Cartel Case Against Citi, Deutsche

By Editors | 13/02/2022

Australia’s top prosecutor concluded that there were no longer reasonable prospects of convicting Citigroup, Deutsche Bank and four former executives.

AML / KYC

US DOJ Makes Largest Ever Cryptocurrency Seizure

By Sanday Chongo Kabange | 10/02/2022

The DOJ seized a record USD 3.6 billion in bitcoin tied to the 2016 Bitfinex hack, representing the largest financial seizure in its history.

AML / KYC

PBOC Fines MYbank for AML and Other Violations

By Editors | 10/02/2022

MYbank failed to perform customer identification obligations, preserve identity information and transaction records, and report suspicious transactions.