Enforcement

Capital / Liquidity

MAS Reprimands Crypto Hedge Fund Three Arrows Capital

By Editors | 01/07/2022

MAS said Three Arrows Capital exceeded its allowable AUM and gave the regulator a false representation. The company entered into liquidation this week.

Enforcement

US SEC Fines EY for Employee Cheating on CPA Exams

By Editors | 30/06/2022

The settlement is largest penalty the SEC has ever imposed against an audit firm, double KPMG’s 2019 penalty.

Enforcement

ASIC Wins Appeal Against Payday Lenders Cigno, BHF Solutions

By Editors | 30/06/2022

ASIC is now considering using its broader product intervention powers to address consumer detriment in continuing credit contracts.

Enforcement

Korea to Launch Investigation Team to Combat Voice Phishing

By Editors | 30/06/2022

The plan was announced in response to the death of a small business owner who committed suicide after he was scammed out of more than KRW 160 million.

Enforcement

China: More Top Officials Get Roped into Corruption Crackdown

By Editors | 30/06/2022

Several PBOC and CBIRC officials have been named in corruption investigations. A former ICBC executive has pleaded guilty on bribery charges.

AML / KYC

G7 Nations Announce Ban on Russian Gold Imports

By Manesh Samtani | 30/06/2022

The ban has so far been announced by US, UK, Japan, and Canada, while discussions within the EU are still ongoing.

Enforcement

Woori Bank, Crypto Exchange Under Probe for Money Laundering

By Editors | 29/06/2022

This is the first time that a Korean virtual asset exchange and a bank have been used as channels for money laundering, an official said.

AML / KYC

Swiss Criminal Court Convicts Credit Suisse for Money Laundering

By Editors | 29/06/2022

The court said Credit Suisse ignored obvious red flags and did not do enough to prevent a crime syndicate from profiting from cocaine trafficking.

Enforcement

SFC Fines CES Capital for Fund Management Failures

By Editors | 28/06/2022

CES Capital International failed to perform sufficient due diligence and monitoring of the underlying investments of two funds.