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Capital / Liquidity
UBS Penalised $388m Over Credit Suisse’s Archegos Failings
By Editors | 25/07/2023
US, UK, and Swiss regulators took coordinated action to punish the “unsafe and unsound” risk management practices at Credit Suisse.
AML / KYC
Disgraced Former CSRC Official Has a New Job at PBOC – Report
By Editors | 25/07/2023
Former CSRC chief Liu Shiyu was previously punished for using his position and power to seek personal gains for others.
Crypto / Digital Assets
Couple Responsible for 2016 Bitfinex Hack Reach Plea Deal
By Manesh Samtani | 24/07/2023
The 119,754 bitcoin stolen was worth $71mn at the time of the hack. When the couple was arrested in Feb 2022, it was worth over $4.5mn.
Enforcement
FSS Korea Directs Chinese Banks to Address Regulatory Violations
By Sanday Chongo Kabange | 24/07/2023
The FSS has directed three Chinese banks with branches in Seoul to take corrective measures to rectify disclosure and reporting violations.
AML / KYC
US DOJ Elevates Crypto Enforcement Team Within Criminal Division
By Manesh Samtani | 24/07/2023
NCET will merge into the Computer Crime and Intellectual Property Section, more than doubling the number of prosecutors available to work on crypto-related crime.
AML / KYC
China Dismantles Online Gambling Ring, Seizes $160m in Crypto
By Editors | 22/07/2023
Police said the scheme involved a “maze-like criminal network” that used virtual assets to launder money overseas.
Enforcement
NZ Court Imposes Highest Ever Penalties for Market Manipulation
By Sanday Chongo Kabange | 21/07/2023
Two former senior executives of Oceania Natural Ltd were ordered to pay a combined N$2.09mn for market manipulation.
Enforcement
FSS Korea Steps Up Efforts to Eradicate Unfair Trading Practices
By Mark Johnston | 21/07/2023
The FSS governor pledges to crack down on any illegal activities in the capital market. A notice outlines misconduct at some investment firms.
AML / KYC
BaFin Appoints Special Monitor to Oversee AML Improvements at N26
By Mark Johnston | 21/07/2023
BaFin fined N26 in 2021 but says it still has deficiencies. N26 will be restricted to onboarding no more than 50,000 new customers per month until the deficiencies are resolved.
Securities / Derivatives
SEBI Mandates Automated Trading Controls for Insiders
By Ranamita Chakraborty | 21/07/2023
India’s securities regulator is ensuring that insiders, also known as designated persons, from listed companies cannot trade during sensitive periods.
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