ENFORCEMENT

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    Securities / Derivatives

    Korea Reimposes Short Selling Ban to Combat Unfair Trades

    By Manesh Samtani | 06/11/2023

    The government will ban short selling until end June 2024 and work on improving the short selling system, said FSC chairman Kim Joo-hyun.

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    AML / KYC

    US Jury Convicts FTX’s Sam Bankman-Fried on Fraud Charges

    By Editors | 03/11/2023

    Bankman-Fried faces up to 110 years in prison when he is sentenced in March. He also faces another trial for alleged foreign bribery and bank fraud conspiracies.

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    Enforcement

    Taiwan Arrests Suspects in Record Crypto Laundering Case

    By Mark Johnston | 02/11/2023

    A fake securities trading app was used to launder over USD 320 million via crypto in the largest case of its kind in Taiwan.

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    Enforcement

    China Jails 21 for Laundering USDT from Online Fraud, Gambling

    By Mark Johnston | 02/11/2023

    A group of 21 people in China laundered criminal proceeds from online fraud and gambling activities using USDT.

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    Enforcement

    MAS Imposes Restrictions on DBS Over Service Disruptions

    By Editors | 01/11/2023

    DBS has to suspend business acquisitions and non-essential changes to its IT systems, instead dedicating its resources and attention to technology resiliency.

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    Enforcement

    APRA Applies A$20m Capital Charge to RAC Insurance

    By Sanday Chongo Kabange | 01/11/2023

    APRA said its review of RAC Insurance revealed “significant weaknesses” in its outsourcing controls, conflict management and board decision making.

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    Enforcement

    FSS Korea Asks Prosecutors to Charge Kakao for Market Manipulation

    By Sanday Chongo Kabange | 01/11/2023

    The FSS has sent recommendations to prosecutors asking them to charge Kakao, Kakao Entertainment and several top executives.

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    Enforcement

    Korea FSS to Probe Illegal Short-selling by Foreign Investment Banks

    By Manesh Samtani | 31/10/2023

    A special team will launch next week to investigate whether more global investment banks engaged in illegal short-selling, and whether local securities firms helped them.

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    Enforcement

    Bank of England and FCA Consider Avoiding Regulatory Definition for AI

    By Editors | 31/10/2023

    Following industry feedback on the role of AI in finance, UK regulators to address wide ranging concerns including data regulation.

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    Uncategorised

    MAS Unveils Proposals to Tackle Mobile Malware and AI Threats

    By Editors | 31/10/2023

    As financial institutions increasingly turn to GenAI to refine their operations, the  CSAP underscored the urgency of strengthening cyber defences.

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