Enforcement

Enforcement

Greensill Group Auditor Suspended in Australia for Two Years

By Editors | 17/12/2024

Joseph John Santangelo was suspended for failing to carry out Greensill’s group audit in accordance with Australian Auditing Standards.

Enforcement

US SEC Fines Cantor Fitzgerald Over Misleading SPAC Disclosures

By Editors | 16/12/2024

Cantor Fitzgerald failed to disclose that it had already commenced negotiations with merger targets for two SPACs prior to their IPOs.

Enforcement

ASIC Sues HSBC for Failing to Protect Customers from Scams

By Sanday Chongo Kabange | 16/12/2024

ASIC says HSBC contravened the Corporations Act and Credit Act and caused customers to lose A$23mn from unauthorised payments.

Sanctions

OFAC Fines Global Logistics Firm for Sanctions Violations

By Editors | 16/12/2024

The violations of Cuba and Iran sanctions were committed by subsidiaries based in China, Spain, Canada, Australia and Peru.

Enforcement

Korea Implements New Guidelines for Punishing Executives of FIs

By Manesh Samtani | 15/12/2024

The guidelines set out the process for how CEOs and executives of FIs will be sanctioned for failures to fulfill their internal control duties.

Enforcement

SGX Reprimands RHT Capital for Breaching Sponsor Obligations

By Editors | 14/12/2024

RHT Capital failed to advise Y Ventures to promptly disclose that its financial statements contained material errors that were false and misleading

AML / KYC

US Authorities Arrest Former TD Bank Employee for Money Laundering

By Thisanka Siripala | 13/12/2024

The ex-employee allegedly issued debit cards from Florida that were used to withdraw narcotics proceeds through ATMs in Colombia.

Enforcement

Australia Court Orders Kraken to Pay A$8m for DDO Breaches

By Sanday Chongo Kabange | 13/12/2024

ASIC believes many crypto products are subject to the same design and distribution requirements that resulted in Kraken’s penalty.

Enforcement

US Authorities Charge 14 Over DRPK IT Workers Scheme

By Editors | 12/12/2024

US employers unwittingly employed 14 North Korean IT workers for years and paid them hundreds of thousands of dollars in salary.