ENFORCEMENT

Enforcement

Asset Manager H2O Avoids UK Fine by Agreeing to Repay Investors

By Editors | 09/08/2024

The FCA decided not to impose a fine despite “extremely serious” regulatory breaches that resulted in investors being trapped in funds since 2020.

Enforcement

Ex-China Forestry Execs Found Culpable of Market Misconduct

By Sanday Chongo Kabange | 08/08/2024

Former CEO and former chairman culpable for disclosing false information in China Forestry’s IPO prospectus, annual results, and annual report in 2008 and 2009.

AML / KYC

German Prosecutors Charge Two More Ex-Wirecard Execs

By Ranamita Chakraborty | 08/08/2024

The two executives allegedly breached their fiduciary duties by approving unsecured loans that were used to embezzle “several hundred million euros”.

AML / KYC

US, Germany Take Down Illicit Crypto Platform Cryptonator

By Editors | 08/08/2024

Cryptonator facilitated transactions worth USD 1.4 billion, including those linked to sanctioned entities and criminal marketplaces.

Crypto / Digital Assets

US Court Orders Ripple to Pay $125m for Securities Law Violations

By Manesh Samtani | 08/08/2024

The order ends years-long litigation brought by the US SEC in December 2020. CEO Brad Garlinghouse said the ruling is a “victory”.

Capital / Liquidity

US SEC Investigates Banks Over Interest Underpayments

By Nithya Subramanian | 08/08/2024

The SEC is probing some of the major US banks over allegations that they systematically cheated customers out of interest on deposits.

AML / KYC

India ED Has Pursued Over 5,000 ML Cases Since 2014

By Ajoy K Das | 08/08/2024

Minister of State for Home Affairs Nityanand Rai said 40 convictions have been secured under the the Prevention of Money Laundering Act.

AML / KYC

Taiwan FSC Imposes AML Fine on Crypto Firm Rybit

By Editors | 07/08/2024

Rybit failed to properly conduct customer risk assessments, confirm customer identities, and retain complete records, among other violations.

AML / KYC

Singapore Parliament Passes Bill to Strengthen AML Regime

By Nithya Subramanian | 07/08/2024

The amendment bill will enable STRO to access more intelligence from government agencies and make it easier for prosecutors to pursue cases.