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ENFORCEMENT
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.
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.
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.
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.
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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