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Enforcement
ASIC Bans Former Fixed Income Broker for Ten Years
By Editors | 05/10/2020
The ex-broker charged unpermitted spreads and traded at prices other than the agreed independent valuation on transactions entered on behalf of referred clients.
AML / KYC
Ransomware Payments May Breach OFAC Regulations
By Sanday Chongo Kabange | 03/10/2020
OFAC makes clear in a new advisory that it may impose civil penalties if ransomware payments are made to sanctioned individuals or entities.
AML / KYC
BitMEX Founders Charged for Evading AML Requirements
By Editors | 03/10/2020
Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.
Enforcement
CFTC Settles Charges Against Citi Over Deleted Audio Recordings
By Editors | 01/10/2020
Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.
Enforcement
ASIC Commences Proceedings Against Cigno, BHF Solutions
By Editors | 01/10/2020
Both companies have been providing credit to a large number of consumers and charging “substantial fees”, without holding an Australian credit licence.
Enforcement
US Authorities Settle JP Morgan Spoofing Charges for $920m
By Editors | 01/10/2020
The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.
Enforcement
Japan FSA Demands Explanation for Miscounted Shareholder Votes
By Editors | 30/09/2020
Sumitomo Mitsui Trust and Mizuho Trust could face business improvement orders, depending on their explanations and the measures they have planned to prevent recurrence.
Enforcement
Korean Prosecutors Raid KEB Hana Bank over Optimus Fund Mis-selling
By Editors | 30/09/2020
Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.
Enforcement
Two Ex-Deutsche Traders Convicted in Spoofing Case
By Sanday Chongo Kabange | 29/09/2020
The two former traders were found guilty of fraud charges for their respective roles in manipulating gold and silver futures prices.
Enforcement
Seoul Court Sentences Ex-Shinhan Exec to Eight Years’ Jail
By Sanday Chongo Kabange | 29/09/2020
The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.
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