Enforcement

Enforcement

China’s Largest Brokerage Under Scrutiny for IPO Sponsor Role

By Editors | 26/03/2024

Citic Securities did not “directly reply” to a query from the SZSE  on whether an IPO applicant it was sponsoring had overly concentrated shareholdings among a few individuals.

Enforcement

ASIC Takes First Action for Failure to Obtain Director ID

By Sanday Chongo Kabange | 26/03/2024

Under 2021 reforms, all directors are required to verify their identities with Australian Business Registry Services and obtain a director ID.

AML / KYC

Netherlands: Trial Against Tornado Cash Co-founder is Underway

By Editors | 26/03/2024

Alexey Pertsev is accused of participating in Tornado Cash’s money laundering activities. A verdict is expected six weeks after the trial concludes this week.

Enforcement

ANZ Agrees to Settle 2021 Credit Cards Class Action

By Sanday Chongo Kabange | 26/03/2024

ANZ has agreed to pay A$57.5mn to settle a class action lawsuit brought by Phi Finney McDonald, subject to court approval.

Enforcement

PwC Faces Scrutiny Over Evergrande’s Fraudulent Accounting

By Mark Johnston | 26/03/2024

Insolvency practitioners say Evergrande liquidators in Hong Kong could pursue PwC for compensation as part of their efforts to recover assets for creditors.

Enforcement

US, UK Announce Sanctions Against China-based Hackers

By Editors | 26/03/2024

A front company allegedly operating for China was sanctioned, along with 2 members of hacking group APT31. DOJ unsealed criminal charges against 7 individuals.

Enforcement

ASIC Bans Director for Operating Unlicensed Crypto Fund Dishonestly

By Mark Johnston | 26/03/2024

ASIC found, among other things, that Brian Creigh used investor money to invest in an overseas investment scam. costing them A$7.7mn.

Enforcement

ESMA FInes Scope Ratings for Conflict of Interest Breaches

By Editors | 26/03/2024

ESMA said Scope fell short of the requirements under the Credit Rating Agencies Regulation on handling conflicts of interest.

Enforcement

RBI to Conduct Audits of IIFL Finance, JM Financial Products

By Ajoy K Das | 25/03/2024

The RBI is looking to conduct special audits of IIFL Finance and JM Financial Products, which were both hit with business restrictions earlier this month.