ENFORCEMENT

Enforcement

ICAC Charges Former SFC Manager for Sharing Confidential Information

By Sanday Chongo Kabange | 02/12/2024

The former SFC manager shared confidential information about a 2023 rights issue to personal friends who used it to make HK$11mn in trading profit.

Crypto / Digital Assets

Japan FSA Issues Warnings to Five Crypto Firms for Unregistered Operations

By Thisanka Siripala | 01/12/2024

The FSA issued warnings to Bitcastle, Bitget, Bybit, KuCoin, and MEXC, notifying them of non-compliance with Japanese law.

Enforcement

Hong Kong Tribunal Penalises Former China Forestry Execs

By Nithya Subramanian | 01/12/2024

Five-year disqualification and cold shoulder orders were issued against two former executives. One was ordered one to disgorge HK$353mn.

AML / KYC

Morgan Stanley Internal Documents Show Scale of AML Deficiencies

By Nithya Subramanian | 30/11/2024

Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.

AML / KYC

Wise Tightens AML Compliance Following Regulatory Review in Europe

By Thisanka Siripala | 30/11/2024

The National Bank of Belgiumreportedly found in 2022 that Wise lacked proof of address for hundreds of thousands of customers.

AML / KYC

AUSTRAC Fines 16 Firms for Failure to Submit Compliance Reports

By Editors | 30/11/2024

The infringement notices were issued for failure to submit 2023 annual compliance reports. The firms had a history of non-compliance.

Enforcement

New Zealand’s Kiwibank Fined for Breaches of Fair Trading Act

By Nithya Subramanian | 29/11/2024

The Commerce Commission has penalised Kiwibank for overcharging 35,000 customers a total NZD 6.8 million.

Enforcement

Malaysia: Court of Appeal Upholds SC’s Case Related to Insider Trading

By Nithya Subramanian | 29/11/2024

The former deputy chairman of a listed company was ordered to pay MYR 3.28 million in disgorgement and a MYR 1 million civil penalty.

Big Picture

UK FCA Faces Criticism Over Consumer Protection Shortfalls

By Thisanka Siripala | 29/11/2024

A parliamentary group released a report based on testimony from 174 respondents collected over two and a half years.