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Enforcement
Interpol Issues Red Notice for Terraform Labs Founder
By Mark Johnston | 26/09/2022
The red notice for Do Kwon was issued at the request of Korean prosecutors, who say he is wanted for alleged capital market violations.
AML / KYC
HKMA Penalises Cathay United Bank for AML Deficiencies
By Editors | 25/09/2022
Besides CDD and EDD failures, the bank’s risk classification framework was “defective by design” and senior management oversight was “inadequate”.
Enforcement
Australian Court Fines AMP for ‘Fees for No Service’ Conduct
By Editors | 25/09/2022
The Federal Court said the conduct reflected “very poorly on the organisation culture” of AMP, fining its subsidiaries a total A$14.6mn.
Enforcement
US SEC Fines Morgan Stanley Unit for Not Protecting Customer Data
By Manesh Samtani | 24/09/2022
A moving and storage company hired by Morgan Stanley’s wealth management division sold thousands of devices containing customer information to a third party.
Enforcement
China to Increase Penalties for Breaches of Cybersecurity Law
By Darien Choong | 24/09/2022
Operators of critical information infrastructure using products or services that have not undergone security evaluations will face fines of up to 5 percent of annual revenue.
Enforcement
China to Strengthen Cross-Agency Collaboration on Capital Market Crime
By Editors | 24/09/2022
Regulatory, law enforcement and prosecutorial agencies will cooperate to “treat both the symptoms and the root causes” that contribute to capital market crime.
Enforcement
New York AG Files Fraud Charges Against Trump & Family
By Editors | 22/09/2022
The lawsuit says Trump falsified his net worth to obtain more favourable loan terms, cheaper insurance coverage, and tax benefits.
Enforcement
China: Another Senior Executive Probed for Chip Fund Fraud
By Editors | 22/09/2022
Another senior investment manager of Sino IC Capital is being probed for fraud involving China’s biggest investment fund for the chip sector.
Enforcement
Australia Court Orders Retrial of Banned Mayfair 101 Director
By Editors | 21/09/2022
ASIC put a “legally incorrect case” and the primary judge made orders “based on a legally correct case not put”, the court said.
Securities / Derivatives
HK Police, FRC Sign MoU on Combatting Commercial Crime
By Editors | 21/09/2022
Collaboration is needed to protect the public interest and maintain financial market integrity, said FRC chairman Kelvin Wong.
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