ENFORCEMENT

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    Crypto / Digital Assets

    US Court Sets October Date for Bankman-Fried Trial

    By Manesh Samtani | 04/01/2023

    Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.

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    Enforcement

    CSRC Bars Two Online Brokers from Onboarding Mainland Investors

    By Editors | 04/01/2023

    Futu Holdings and Tiger Brokers have been offering offshore trading services to mainland clients though they are not licensed in China.

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    Enforcement

    US FTC Orders Mastercard to Stop Blocking Competing Networks

    By Editors | 03/01/2023

    The FTC says Mastercard used its control over its “tokenisation” process to block the use of competing payment card networks.

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    Enforcement

    China: Two Former P2P Lending Executives Jailed for 20 Years

    By Editors | 03/01/2023

    Two executives of now-defunct Tuandai.com were convicted for fundraising fraud and illegal collection of public deposits, among other charges.

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    Enforcement

    Singapore Imposes 36-Year Jail Sentence for Market Manipulation

    By Editors | 03/01/2023

    John Soh Chee Wen and Quah Su-Ling were sentenced to 36 and 20 years in jail, respectively, for manipulating three penny stocks ten years ago.

    Enforcement

    China to Crack Down on Illegal Stock Recommendations

    By Editors | 30/12/2022

    Regulators are targeting online information, accounts, website platforms and mobile apps being used to make stock recommendations illegally.

    AML / KYC

    SEC Philippines Increases Penalties for UBO Non Disclosure

    By Editors | 30/12/2022

    Directors, trustees, and officers can also be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

    Enforcement

    Meta to Pay $725m to Settle Cambridge Analytica Claims

    By Editors | 30/12/2022

    Facebook allowed Cambridge Analytica to access data of 87 million users. The proposed settlement is the largest ever in a US data privacy class action.

    Enforcement

    SGX RegCo Bars UOBKH from Acting as Issue Manager

    By Editors | 29/12/2022

    SGX RegCo said it has considered actions already taken by MAS and the interests of the market, and decided to impose additional requirements on UOBKH.

    Enforcement

    ASIC Fines Super Fund Trustee Diversa for Alleged Greenwashing

    By Editors | 28/12/2022

    ASIC said the statements made by Diversa Trustees were too broad, potentially misleading consumers about its investment screens.

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