ENFORCEMENT

    image

    Enforcement

    Six US Banks Agree to Settle Antitrust Litigation for $80m

    By Editors | 31/07/2024

    The banks allegedly colluded to bid up bond prices at auction and then sell those bonds at inflated prices to pension funds and other investors.

    image

    Enforcement

    US Authorities Charge Founder of Crypto Firm BitClout

    By Editors | 31/07/2024

    Nader Al-Naji faces civil and criminal charges for allegedly lying to investors and misappropriating investments for personal expenses and gifts.

    image

    Enforcement

    Ex-CITIC Banker Ordered to Disgorge Insider Dealing Profits

    By Sanday Chongo Kabange | 31/07/2024

    Hong Kong’s Market Misconduct Tribunal also banned the former executive deputy general manager from certain activities for three years.

    image

    Enforcement

    ANZ Working to Address Conduct Issues With “Urgency”

    By Sanday Chongo Kabange | 31/07/2024

    ANZ said it has suspended, terminated and issued a formal warning to several employees in its Sydney dealing room.

    image

    Enforcement

    MAS Reprimands RVP One & CEO for Regulatory Breaches

    By Nithya Subramanian | 31/07/2024

    The RFMC failed to submit information about its financial returns and notify MAS of changes to its shareholding structure, MAS said.

    image

    AML / KYC

    Fed Terminates Enforcement Action Against Silvergate Bank

    By Editors | 31/07/2024

    The enforcement action has been in effect since May 2023 to protect depositors. Silvergate has since completed its liquidation and wind-down plan and paid back depositors.

    image

    Enforcement

    UK Court Rules in Mozambique’s Favour in ‘Tuna Bonds’ Case

    By Editors | 30/07/2024

    The court awarded Mozambique around $825mn, along with an indemnity for over $1bn in debt owed to lenders and bondholders.

    image

    AML / KYC

    China Issues Legal Guidelines for Combatting Asia’s ‘Fraud Parks’

    By Manesh Samtani | 30/07/2024

    The guidelines identify four key areas where punishment shall be imposed to combat large-scale industrial fraud parks in Southeast Asia.

    image

    Securities / Derivatives

    Bursa Malaysia Reprimands, Fines Former Kenanga Broker

    By Ranamita Chakraborty | 30/07/2024

    The former dealer’s representative at Kenanga Investment Bank engaged in manipulative trading practices involving 11 stocks over six months.

    image

    Enforcement

    UK Secures First Forfeiture from Sanctions Evasion Case

    By Editors | 30/07/2024

    Around $1mn was forfeited after being frozen since 2022. The funds were held by the wife of Petr Aven, a sanctioned Russian oilgarch.

    JOIN OUR NEWSLETTER

    A daily selection of top stories from the Regulation Asia editorial team