ENFORCEMENT

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    Enforcement

    US SEC Fines Former FTX Auditor for Negligence-related Fraud

    By Nithya Subramanian | 19/09/2024

    Prager Metis issued two audit reports for FTX between 2021 and 2022, but failed to comply with auditing standards and apply “due care” in those audits.

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    AML / KYC

    Europol Leads Takedown of Messaging Platform Used by Criminals

    By Manesh Samtani | 19/09/2024

    A total 51 suspects have been arrested, including 38 in Australia, where the platform’s mastermind was located and a drug lab was dismantled.

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    Capital / Liquidity

    US DOJ Probing Whether Banks Colluded During Archegos Wind-down

    By Nithya Subramanian | 19/09/2024

    The Justice Department is reportedly investigating whether some Wall Street banks coordinated stock sales during the Archegos collapse.

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    Securities / Derivatives

    SEBI Dismisses Co-location Case Against NSE and Executives

    By Ajoy K Das | 18/09/2024

    SEBI had directed NSE to disgorge billions of dollars in 2019, but the Securities Appellate Tribunal ordered the case to be re-adjudicated.

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    Crypto / Digital Assets

    FTX Founder Files Appeal Against Fraud Conviction

    By Thisanka Siripala | 18/09/2024

    Sam Bankman-Fried’s lawyers argue that the judge in the case undermined the defence and blocked evidence from being shown in court.

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    ESG / Sustainability

    US SEC Has Disbanded Enforcement Division’s ESG Task Force

    By Nithya Subramanian | 18/09/2024

    The SEC shut down the task force following increasing anti-ESG backlash from companies, investors, state officials and courts.

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    Enforcement

    Korea FSS Prepares to Penalise Six Securities Firms – Reports

    By Nithya Subramanian | 18/09/2024

    The securities firms allegedly used funds from new customers or their own capital to cover investment losses by institutional and corporate investors.

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    Enforcement

    US SEC Fines 12 Municipal Advisors for Record Keeping Violations

    By Editors | 18/09/2024

    The 12 firms agreed to pay combined penalties of more than $1.3mn for failures to preserve records of business communications using unofficial channels.

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    Enforcement

    France Attempting to Use New Cybercrime Law Against Telegram Founder

    By Editors | 18/09/2024

    The LOPMI law, enacted in 2023 and as yet untested, is the first globally that gives a court the power to punish executives for abuse of the platforms they operate.

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    Enforcement

    SFC Reaches Compensation Deal for Shareholders of Delisted Firm

    By Sanday Chongo Kabange | 17/09/2024

    If approved by the court, three former directors who siphoned money from a now-delisted company will pay HK$192mn in compensation to minority shareholders.

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