ENFORCEMENT

Enforcement

CFTC, FTX Reach Agreement on $12.7b Settlement

By Editors | 17/07/2024

The CFTC is only payable to the extent that funds are available after customer and creditor claims are settled.

Enforcement

SEBI Proposes ‘Summary Proceedings’ for Certain Intermediary-led Violations

By Ajoy K Das | 17/07/2024

The move is part of the capital market regulator’s efforts to streamline regulatory processes and ensure swift enforcement actions.

Enforcement

APRA Orders Superannuation Trustee to Address Data Issues

By Sanday Chongo Kabange | 17/07/2024

APRA requires Fiducian Portfolio Services to fix issues related to the accuracy and completeness of data submitted for the superannuation performance test.

Enforcement

Australia Convicts Ex-Crypto Promoter for Unlicensed Financial Advice

By Sanday Chongo Kabange | 16/07/2024

John Bigatton was convicted for providing unlicensed financial advice when he promoted BitConnect in seminars and on social media.

Enforcement

ASIC Intervenes to Secure Fee Refunds for Bank Customers

By Sanday Chongo Kabange | 16/07/2024

ANZ, Bendigo and Adelaide Bank, CBA and Westpac will refund over A$28mn to low-income customers who were charged inappropriately high fees.

Crypto / Digital Assets

FSC Korea Issues Regulations for New Virtual Assets Law

By Manesh Samtani | 16/07/2024

The regulations specify how the virtual asset market will be supervised and illegal activities will be investigated. The new law takes effect on Friday.

Enforcement

FSS Korea Launches Bank Inspections to Assess Lending

By Editors | 16/07/2024

The FSS will assess whether banks are managing loans appropriately and complying with the DSR limits and other regulations.

Enforcement

Former China Taiping Official Pleads Guilty on Bribery Charges

By Editors | 15/07/2024

Xiao Xing took CNY 81 million in bribes over more than 25 years while serving as a senior government official and as a senior executive at two state-owned insurers.

Enforcement

Japan Makes First Arrest for Russia Export Control Violation

By Editors | 15/07/2024

A Russian national operating a trading company in Osaka was arrested for illegally exporting restricted goods to Russia via South Korea.