Enforcement

Enforcement

Hong Kong FRC Probes Evergrande, PwC Over Loan Guarantees

By Editors | 16/08/2022

The FRC is concerned about deposits held by Evergrande’s property services unit that were pledged as security for third parties to obtain bank loans.

Enforcement

HK Exchange Censures Ping An Securities, Two Former Directors

By Editors | 16/08/2022

The two former executive directors of Ping An Securities caused losses to the company through unapproved loans and asset disposals.

AML / KYC

Three Associated with Tornado Cash Allegedly Arrested

By Manesh Samtani | 16/08/2022

Dutch authorities arrested a software developer of crypto mixer Tornado Cash last week. Two others were reportedly arrested in the US and Estonia.

Enforcement

Two JPM Traders Convicted on Spoofing Charges

By Editors | 15/08/2022

The two former traders were convicted of attempted price manipulation, spoofing, commodities fraud, and wire fraud following a three-week jury trial.

Enforcement

China: Nine Execs Allegedly Linked to Semiconductor Fund Fraud

By Editors | 14/08/2022

Executives from a high-profile chipmaker, a fund that invested in it, and the manager of the fund are under investigation in a fraud and corruption probe.

Enforcement

Taiwan FSC Again Fines HK Firm for Faulty Beneficiary Disclosure

By Editors | 14/08/2022

Hong Kong-based Capital Target was fined last May and ordered to reduce its shareholdings in a Taiwanese financial conglomerate.

Crypto / Digital Assets

FSC Korea Starts Work on New Crypto Legislation

By Editors | 12/08/2022

The new “Digital Assets Basic Act” is likely to adopt various measures from 13 bills already proposed by lawmakers and pending in the National Assembly.

AML / KYC

Former BitMEX Exec to Pay Fine for Violating AML Law

By Editors | 11/08/2022

The US Attorney previously secured judgments against the firm’s three co-founders for violating US derivatives laws and AML rules.

AML / KYC

OFAC Sanctions Crypto Mixing Service Tornado Cash

By Manesh Samtani | 09/08/2022

The US Treasury Department says Tornado Cash has been used to launder over USD 7 billion worth of crypto since it was created in 2019.