Enforcement

Enforcement

UK Discloses Russia Sanctions Breach by Wise Payments

By Editors | 01/09/2023

The disclosure is meant to act as a form of censure and deterrent, while also providing compliance lessons. No monetary penalty was imposed.

Enforcement

Korea Reopens Investigations into Handling of Lime Funds

By Editors | 31/08/2023

Search and seizure operations were carried out at two securities firms on Thursday. Additional inspections at a third firm.

Enforcement

US SEC Fines Citigroup for ‘Wilful’ Record-Keeping Violations

By Editors | 30/08/2023

The SEC said Citigroup Global Markets used an “unsubstantiated and unverified” method to calculate and record indirect expenses associated with its underwriting work.

AML / KYC

Malaysia Freezes Bank Accounts, Makes Arrests in Bribery Probe

By Editors | 30/08/2023

The probe involves more than MYR 6 million in bribes allegedly paid to prominent figures and political leaders by a gambling company.

Enforcement

SFC, ICAC Acts Against Suspected Market Manipulation Syndicate

By Sanday Chongo Kabange | 30/08/2023

One person was arrested on bribery charges. Brokerage accounts linked to the manipulation scheme were frozen.

Enforcement

CFTC Fines Goldman Sachs for Missing Audio Recordings

By Editors | 30/08/2023

Goldman’s vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.

Enforcement

FSS Korea Confirms Misconduct Case at Lotte Card Co

By Editors | 30/08/2023

Two Lotte Card employees conspired to help a subcontractor win a deal and then the three shared in the proceeds.

Enforcement

ASIC’s New 4-Year Plan Highlights Heavy Enforcement Focus

By Editors | 29/08/2023

ASIC will target scams, digitally-enabled misconduct, predatory lending, and greenwashing, while also “closely monitoring” the use of AI.

AML / KYC

Singapore AML Probe Expands to Precious Metals, Property Agents

By Manesh Samtani | 29/08/2023

MinLaw urged precious metals dealers to review their transactions and business relationships. The Council for Estate Agencies is investigating property agents.