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Enforcement
US Treasury Issues CFIUS Enforcement and Penalty Guidelines
By Editors | 26/10/2022
The guidelines describe three categories of conduct that may constitute a violation of foreign investment laws and regulations, and how penalties may be imposed.
Crypto / Digital Assets
ASIC Files Suit Over Misleading Claims by Crypto Firm
By Editors | 26/10/2022
ASIC said BPS Financial engaged in unlicensed conduct and made false, misleading or deceptive representations about a crypto token called Qoin.
Enforcement
Credit Suisse Clears Litigation Docket Ahead of Overhaul
By Editors | 25/10/2022
Credit Suisse has been cleared of FX rigging charges and settled separate cases with French and US prosecutors.
Enforcement
FCA Seeks £50m Penalty from Barclays for 2008 Deals
By Editors | 24/10/2022
Barclays did not disclose payments made to Qatari entities for their participation in two capital raisings during the GFC in 2008.
AML / KYC
Singapore Jails Former Bank Officer Over Shell Company Setups
By Editors | 24/10/2022
The former bank officer recruited nominee directors to set up shell companies and open bank accounts for use by unidentified individual based overseas.
Enforcement
Philippine SEC Sets Out Penalties for Disclosure Violations
By Mark Johnston | 24/10/2022
Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.
Enforcement
NZ FMA Issues Warnings Against Property Investment Firms
By Editors | 23/10/2022
The firms misused the wholesale investor exclusion to extend offers to people with little or no investment experience.
AML / KYC
NZ FMA Issues Formal Warning to InvestNow Over AML Failures
By Editors | 22/10/2022
InvestNow had deficiencies in its processes for verifying customer identities and conducting CDD, EDD and SoW/SoF checks.
AML / KYC
US Sanctions, Files Criminal Charges Against Russians
By Editors | 21/10/2022
The sanctions target a procurement network supplying technology to Russia. The indictment explains that crypto was used to facilitate the payments.
Enforcement
German Prosecutors Raid Deutsche Offices for “Cum-Ex” Probe
By Editors | 21/10/2022
The Cum-Ex scandal dates back more than a decade. Deutsche Bank is said to be fully cooperating with inspections at its Frankfurt offices.
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