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Enforcement
Sanctions
US, Türkiye Agree on New ‘Sanctions Compliance Scheme’
By Editors | 22/03/2024
Under the new scheme, the US will allow Turkish authorities to first investigate potential sanctions violations before action is taken against Turkish companies.
Securities / Derivatives
SEBI Confirms Market Ban for LIC Employee in Front-running Case
By Ajoy K Das | 21/03/2024
An employee of Life Insurance Corporation of India as well as his family members and two family legal entities were banned from the securities market.
Enforcement
HK Court Jails Retail Trader for Fraud Involving Naked Short Selling
By Sanday Chongo Kabange | 21/03/2024
In the first case of securities fraud involving illegal short selling in Hong Kong, a retail trader was sentenced to 18 months imprisonment.
Enforcement
S. Korea Sees First Securities Class Action Related to an IPO
By Editors | 20/03/2024
The class action is against semiconductor company FADU and its underwriters, NH Investment & Securities and Korea Investment & Securities.
Enforcement
CFTC Fines US Bank, Oppenheimer for Record Keeping Failures
By Editors | 20/03/2024
US Bank was fined $6mn and Oppenheimer $1mn. Last month, the SEC also announced fines against Oppenheimer and a US Bank affiliate in a related case.
Crypto / Digital Assets
US SEC Secures $21m Settlement from Crypto Lender Genesis
By Editors | 20/03/2024
Genesis will only have to pay the civil penalty after all allowed claims in its bankruptcy are settled, including claims by Gemini Earn investors.
Enforcement
CSRC to Impose Fine and Lifetime Ban on Evergrande Founder
By Editors | 19/03/2024
The company’s flagship unit, Hengda Real Estate, will also pay a CNY 4.2 billion penalty for inflating revenues and defrauding investors.
Enforcement
China’s Didi Required to Face Investor Lawsuit Over 2021 IPO
By Editors | 19/03/2024
Besides allowing the investor lawsuit to proceed against Didi, the US court also refused to dismiss claims against banks that helped the company go public.
Enforcement
US DOJ Proposes 50 Year Prison Term for FTX Founder
By Mark Johnston | 19/03/2024
Prosecutors proposed a 40-50 year prison term, $11bn fine and forfeiture for Sam Bankman-Fried, who faces sentencing on 28 March.
Enforcement
US SEC Fines Two Investment Advisers for AI Washing
By Editors | 19/03/2024
“Investment advisers should not mislead the public by saying they are using an AI model when they are not,” said the SEC’s Gary Gensler.
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