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Enforcement
Enforcement
Prominent Short Seller Andrew Left Charged for Securities Fraud
By Editors | 31/07/2024
The DOJ and SEC said Andrew Left used social media and TV appearances to promote his trades, manipulate the market, and “make fast, easy money”.
Enforcement
UK Supreme Court Agrees to Hear LIBOR Rigging Appeals
By Manesh Samtani | 31/07/2024
Former traders Tom Hayes and Carlo Palombo allowed to appeal convictions for interest rate rigging at the UK’s highest court.
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.
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.
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.
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.
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.
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.
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.
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.
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