Enforcement

Enforcement

Korea FSS Takes Action Against BNK Financial Group, Busan Bank

By Editors | 26/07/2024

The FSS found that executives and employees of both companies manipulated BNK Financial’s stock price when going through the process of a paid-in capital increase.

Enforcement

Korea FSS Considers New Rules to Prevent Mis-selling

By Editors | 25/07/2024

Measures being considered would require banks to separate their sales channels for high-risk products from deposits and installment savings counters.

Enforcement

China Establishes Anti-Corruption Body for Financial Sector

By Editors | 25/07/2024

The CCDI announced the establishment of a dedicated disciplinary body to tackle corruption in the financial sector.

Enforcement

MAS Cancels Insurance Broker’s Registration for Regulatory Breaches

By Nithya Subramanian | 25/07/2024

Acesynergy Brokers failed to comply with applicable regulatory requirements, registration conditions, and written directions from MAS.

Enforcement

Kakao’s Billionaire Founder Arrested in South Korea

By Editors | 24/07/2024

Kim Beom-su was arrested on allegations that he played a role in manipulating the stock price of K-pop agency SM Entertainment last year.

Enforcement

ASIC Charges Four in Telegram ‘Pump and Dump’ Case

By Sanday Chongo Kabange | 24/07/2024

Four individuals coordinated to select penny stock targets and announced those targets in a public Telegram group named the ‘ASX Pump and Dump Group’.

Sanctions

Hong Kong Has Become a Sanctions Evasion Hub: Report

By Manesh Samtani | 24/07/2024

New report says Hong Kong has emerged as a “global centre for illicit finance and trade” and the city’s banks should be sanctioned.

AML / KYC

US Authorities Recover Another $85m in 1MDB Case

By Nithya Subramanian | 24/07/2024

The DOJ secured the recovery of a Swiss financial account along with diamond jewellery and artwork worth a combined $85mn.

Enforcement

Hong Kong Court Jails Three in Landmark Manipulation Case

By Sanday Chongo Kabange | 23/07/2024

The jail sentences are the heaviest and longest imposed for market manipulation since the SFO came into effect in 2003.