Enforcement

Enforcement

Australia Fines Telstra for Failure to Authenticate Customer IDs

By Editors | 18/07/2024

The ACMA said Telstra failed to use ID authentication processes for 168,000 high-risk customer interactions, such as SIM-swap requests and password resets.

Enforcement

FSS Korea to Sanction Execs for Internal Control Issues

By Manesh Samtani | 18/07/2024

FSS sets out how it will decide on imposing sanctions on CEOs and executives who violate their internal control management duties.

Enforcement

US Jails Man for Shipping Microelectronics to Russia via Hong Kong

By Editors | 17/07/2024

Russian national Maxim Marchenko procured dual-use military grade microelectronics for Russian end users using Hong Kong-based shell companies.

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.