ENFORCEMENT

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    Crypto / Digital Assets

    US Agencies Settle Charges Against Crypto Lender Celsius Network

    By Manesh Samtani | 16/07/2023

    Celsius Network and founder Alexander Mashinsky charged for failing to register crypto lending product, defrauding customers, manipulating price of CEL token.

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    Enforcement

    Cigno, BHF Solutions Breached National Credit Act, Court Rules

    By Sanday Chongo Kabange | 15/07/2023

    Australia’s Federal Court said the lending model the firms operated was specifically intended to avoid provisions of the National Credit Act.

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    Crypto / Digital Assets

    US Judge Skeptical of SEC Stance Against Coinbase

    By Editors | 15/07/2023

    In a pre-motion hearing, the judge suggested it was reasonable for Coinbase to think they were not breaking the law based on the SEC’s issuance of the S-1 form.

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    Enforcement

    Korea Prosecutors Arrest Three on Stock Manipulation Charges

    By Sanday Chongo Kabange | 14/07/2023

    The trio allegedly generated $27.9mn in illicit profits by manipulating the stock prices of five companies, prosecutors said.

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    AML / KYC

    Euroclear Faces $2b Lawsuit from Russian Fund Manager

    By Editors | 14/07/2023

    Russian asset manager First AM says its lawsuit is intended to protect the rights and interests of clients whose assets were frozen.

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    Enforcement

    SFC, AFRC to Jointly Target Misconduct By Listed Issuers

    By Sanday Chongo Kabange | 14/07/2023

    The SFC and AFRC will work together to address misconduct involving dubious loans issued by listed companies to third parties.

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    Enforcement

    Singapore Jails Four on False Trading, Deception Convictions

    By Editors | 14/07/2023

    The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

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    Enforcement

    SFC Fines Fund Manager for Failing to Segregate Client Funds

    By Sanday Chongo Kabange | 14/07/2023

    The fund manager also issued inaccurate statements of accounts and failed to provide statements of accounts to clients within the prescribed time limit.

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    AML / KYC

    Malaysia Arrests Former 1MDB Legal Counsel

    By Editors | 14/07/2023

    Jasmine Loo fled Malaysia in 2018 but is now willing to cooperate with Malaysian authorities on investigations.

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    Enforcement

    UK FCA Fines Bastion Capital Over Cum-Ex Trades

    By Mark Johnston | 13/07/2023

    The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.

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