Enforcement

Enforcement

Thailand Raises Penalties for Violations by Brokerage Firms

By Nithya Subramanian | 29/10/2024

The new minimum penalty for naked short-selling stands a THB 1 million (USD 30,000), to better reflect the severity of offence.

AML / KYC

FinCEN Fines Hotel-Casino $900,000 for AML Failures

By Thisanka Siripala | 27/10/2024

Lake Elsinore Hotel and Casino in California failed to maintain an effective AML programme over a four-year period.

Enforcement

BNM Fines MSB Licensee for Circumventing CDD Process

By Mark Johnston | 27/10/2024

BSB Darussalam personnel deliberately split transactions into amounts below MYR 3,000 to avoid CDD requirements.

Enforcement

US Court Fines Chinese Citizen for Fictitious Sales Scheme

By Mark Johnston | 27/10/2024

Yueyu Bao was fined and banned for orchestrating a series of non-competitive, fictitious trades with his cousin on the Chicago Board of Trade.

Sanctions

DOJ Can Prosecute State-Owned Turkish Bank, Court Rules

By Editors | 25/10/2024

Halkbank was accused in 2019 of helping Iran to evade US sanctions, but the possibility of legal immunity surrounding the case has been ongoing until now.

Enforcement

ASIC Sues Australia’s Largest Insurer for Overcharging Premiums

By Thisanka Siripala | 25/10/2024

QBE Insurance promised certain discounts on premiums that were not properly applied, leading to higher-than-expected premiums for many policyholders.

Enforcement

US SEC Settles Charges with Associate of Short Seller Andrew Left

By Mark Johnston | 24/10/2024

The SEC said Ryan Choi misled investors in two tweets and profited from trades in two companies without properly disclosing his trading activity.

Enforcement

US CFPB Imposes Penalties on Goldman Sachs and Apple

By Nithya Subramanian | 24/10/2024

Goldman is banned from launching new credit card products until it can demonstrate compliance with federal law.

Enforcement

CSRC Punishes Firms Over Investment Banking Internal Controls

By Manesh Samtani | 24/10/2024

The CSRC suspended the bond underwriting businesses of two securities firms for 6 months, and imposed administrative measures on a further 11 firms and 43 individuals.