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ENFORCEMENT
Enforcement
Korea’s FSS Expands Probe Into IBK’s Fraudulent Loan Scheme
By Thisanka Siripala | 13/02/2025
Fraudulent loans worth KRW 60 billion have been identified, which is more than double the original estimate when the FSS launched its probe last month.
Crypto / Digital Assets
US SEC Delays Outstanding Crypto Cases Pending Regulatory Clarity
By Mark Johnston | 13/02/2025
The US SEC agreed to pause court cases against Binance and Cumberland DRW while its new crypto task force formulates regulatory guidelines.
Enforcement
US Court Orders ‘My Big Coin’ Founder to Pay $7.6m in Restitution
By Mark Johnston | 12/02/2025
Randall Crater, previously sentenced to serve over eight years in prison, is required to pay victims who were defrauded in the “My Big Coin” scheme.
Enforcement
FSC Korea Revises Regulations for Credit Rating Agencies
By Nithya Subramanian | 12/02/2025
Explicit penalties introduced for corporate credit rating agencies found engaging in fraudulent evaluations or coercing specific rating outcomes
Enforcement
HSBC Acquitted of Violating South Korea’s Short-Selling Rules
By Thisanka Siripala | 12/02/2025
The court said there was no evidence to support the idea that HSBC and its traders knowingly violated South Korea’s Capital Markets Act
Enforcement
US Consumer Financial Protection Bureau Suspends Activities
By Nithya Subramanian | 11/02/2025
Acting Director Russell Vought directed employees to stay home and pause all CFPB investigations and enforcement actions.
Enforcement
Korea’s FSS Issues Advisory on Misleading ETF Advertisements
By Nithya Subramanian | 11/02/2025
An FSS review of 252 ETF advertisements found exaggerated claims, inappropriate wording and omission of key information.
Enforcement
CSRC Revokes Licences of Futures Firm Over “Illegal Activities”
By Editors | 11/02/2025
The CSRC said Hehe Futures failed to effectively manage its subsidiaries and to perform its reporting obligations.
AML / KYC
Australian Court Commences Trial Against Star Casino Executives
By Thisanka Siripala | 11/02/2025
The trial will examine whether 10 former executives and directors knowingly allowed money laundering and criminal activity at Star casinos.
Enforcement
APRA Accepts Court Enforceable Undertaking from Cbus
By Sanday Chongo Kabange | 11/02/2025
APRA accepted a CEU from Cbus and simultaneously launched a new probe into the firm for possible SIS Act breaches.
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