ENFORCEMENT

Enforcement

Australian Court Penalises Dover Financial Advisers for Misconduct

By Editors | 09/03/2021

The penalty is part of the fallout from a 2019 federal court judgment that Dover Financial Advisers engaged in “false, misleading or deceptive conduct”.

Enforcement

US SEC Forms Task Force to Pursue ESG-related Misconduct

By Editors | 08/03/2021

The task force’s initial focus will be to identify material gaps or misstatements in issuers’ disclosure of climate risks under existing rules.

AML / KYC

John McAfee Indicted for Crypto-related Fraud, Money Laundering

By Sanday Chongo Kabange | 08/03/2021

McAfee and his associate allegedly used their large Twitter following to promote altcoins and ICOs to investors through a so-called pump-and-dump scheme.

Enforcement

SEBI Directs MIIs to Establish Controls to Prevent Market Abuse

By Editors | 08/03/2021

Stock exchanges, clearing corporations and depositories are asked to establish a code of conduct and institutional mechanism to prevent fraud and market abuse.

Enforcement

HK Police Arrest 12 Members of Ramp-And-Dump Syndicate

By Editors | 08/03/2021

The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.

Enforcement

Ripple, Top Execs File Responses to SEC Complaint

By Manesh Samtani | 06/03/2021

At meetings with crypto trading platforms as recently as 2019, SEC staff did not indicate it may have considered XRP a security, Ripple says.

AML / KYC

Malaysia Secures Settlement from Deloitte to Resolve 1MDB Claims

By Editors | 05/03/2021

Malaysia’s Finance Ministry is also negotiating a settlement with KPMG, which was replaced by Deloitte as auditor of 1MDB in 2013.

Enforcement

Bursa Punishes RHB Representative for Unauthorised Trading

By Editors | 04/03/2021

The former representative committed the breaches for personal financial gain and attempted to conceal his misconduct from RHB Investment Bank’s management.

Enforcement

Taiwan FSC Penalises Brokers for Lax Security Controls

By Editors | 04/03/2021

Cathay Securities, Concord Securities and SinoPac Securities were fined the most and barred from certain business and capital raising activities for three months.