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ENFORCEMENT
Enforcement
UK Jails Members of Chinese Money Laundering Group
By Editors | 31/08/2024
A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.
Enforcement
CFTC Penalises Nasdaq Futures Over False Disclosures
By Editors | 30/08/2024
Nasdaq Futures, which operated an energy commodity futures market from 2015-2018, did not fully disclose details of an incentive programme.
Enforcement
Singapore Designates Wildlife Trade as Serious Criminal Offences
By Nithya Subramanian | 30/08/2024
Wildlife trading will now be punishable in Singapore under the Organised Crime Act with up to 20 years imprisonment.
Enforcement
CFTC Fines Swiss Energy Trader $48m for Market Manipulation
By Nithya Subramanian | 30/08/2024
TOTSA TotalEnergies Trading sold physical EBOB at below-market prices to benefit its large short position in the futures market.
Enforcement
Australian Court Sentences Financial Adviser to 12 Years Jail
By Editors | 30/08/2024
Ben Jayaweera dishonestly obtained money from clients for investments and then transferred the funds to his own accounts.
Enforcement
ASIC Fines CLSA for Providing Incorrect Regulatory Data
By Sanday Chongo Kabange | 30/08/2024
The failures arose from a change to CLSA’s global order management system that was “not adequately scoped and tested” before implementation.
Enforcement
SEBI Fines CDSL and Citibank for Separate Regulatory Violations
By Ajoy K Das | 30/08/2024
Both settlement orders were passed on Tuesday, with SEBI saying it reserves the right to initiate further action against CDSL or Citibank.
Crypto / Digital Assets
US SEC Settles Charges Against Crypto Firm Abra
By Editors | 30/08/2024
The SEC said Abra operated as an unregistered investment company and sold a retail crypto asset lending product that should have been registered.
Crypto / Digital Assets
US SEC Planning Legal Action Against NFT Platform OpenSea
By Editors | 29/08/2024
OpenSea CEO Devin Finzer said the SEC is threatening to sue because “they believe NFTs on our platform are securities”.
AML / KYC
NYDFS Fines Nordea Bank $35mn for AML Failures
By Editors | 29/08/2024
NYDFS said Nordea’s deficient AML programme exposed it to a “high risk of criminal abuse” which was “imported” to New York’s financial system.
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