ENFORCEMENT

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    Enforcement

    FMA Says Westpac NZ Admitted to Overcharging 24,000 Customers

    By Editors | 24/12/2024

    The bank self-reported the issue, fully cooperated with the FMA’s investigation, and provided remediation to impacted customers.

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    Enforcement

    Bank Indonesia Under Investigation by Anti Corruption Agency

    By Editors | 23/12/2024

    KPK searched several rooms at Bank Indonesia including the governor’s office. A search operation was also conducted at OJK.

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    AML / KYC

    FMA Launches Legal Action Against InvestNow for Breaching AML Rules

    By Editors | 22/12/2024

    The FMA said it considers failures by retail investment platform InvestNow to be “significant and, in some respects, systemic.”

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    Enforcement

    RBI Removes Business Restrictions on Two Edelweiss Group Firms

    By Editors | 22/12/2024

    The RBI is satisfied that adequate remedial measures have been put in place at the two entities to address its earlier supervisory concerns.

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    Crypto / Digital Assets

    US SEC Fines Unit of Jump Trading Over TerraUSD Collapse

    By Editors | 21/12/2024

    The SEC said Tai Mo Shan Limited deceived the market about TerraUSD’s stability while purchasing the stablecoin to restore its peg.

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    Sanctions

    OFAC Announces Two New Settlements for Sanctions Violations

    By Editors | 20/12/2024

    An individual US person violated Magnitsky sanctions and a US manufacturer of musical instruments violated Iran sanctions.

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    Enforcement

    Hong Kong ICAC, Competition Commission to Enhance Collaboration

    By Manesh Samtani | 19/12/2024

    The ICAC and the Competition Commission signed an MoU to enhance collaboration in combating corruption and anti-competitive conduct

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    Enforcement

    JSDA Fines Nomura Over JGB Futures Manipulation Case

    By Editors | 19/12/2024

    The FSA, OSE and TSE have each already penalised Nomura Securities for JGB futures manipulation by one of its traders in March 2021.

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    Sanctions

    US Sanctions 7 Targets for Aiding Iranian UAV Development

    By Editors | 19/12/2024

    One of the sanctioned individuals supplied technology used by Iran to kill three US service members in Jordan earlier this year.

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    Capital / Liquidity

    FDIC to Pursue Legal Action Against 17 Former SVB Executives

    By Editors | 19/12/2024

    Chairman Martin Gruenberg said the executives breached their duties by mismanaging Silicon Valley Bank’s securities portfolios.

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