Enforcement

Sanctions

China Launches Antitrust Probe into US Chip Giant Nvidia

By Editors | 11/12/2024

The probe is seen as a geopolitical rather than a regulatory or legal action, in retaliation against the US’ latest curbs on China’s chip sector.

Enforcement

US SEC Fines Morgan Stanley Smith Barney Over Theft of Client Funds

By Thisanka Siripala | 11/12/2024

The SEC said the firm failed to prevent four financial advisors from misappropriating nearly $10mn of client funds.

Sanctions

OFAC Sanctions Chinese Cybersecurity Company and Employee

By Editors | 11/12/2024

OFAC said the employee was responsible for deploying malware to 81,000 firewalls owned by thousands of businesses worldwide in April 2020.

Enforcement

US Regulator Places Google Payment Corp Under Supervision

By Thisanka Siripala | 11/12/2024

Google Payment Corp says the consumer complaints cited by the CFPB are based on a discontinued service that no longer poses a risk.

Enforcement

US Lawmakers Allege Widespread Abuse of BSA for Surveillance

By Thisanka Siripala | 11/12/2024

The lawmakers say the government access to the private financial data of US citizens is “widespread and virtually unchecked”.

Enforcement

ASIC Calls on Government to Ban Unfair Trading in Financial Services

By Sanday Chongo Kabange | 10/12/2024

ASIC’s Alan Kirkland says the proposed ban is needed to combat “dark patterns” which “distort, subvert, and undermine consumer choice”.

Enforcement

FSC Korea Refers First Finfluencer Cases for Prosecution

By Editors | 09/12/2024

The FSC said the finfluencers pre-purchased stocks and then recommended and sold those stocks to their subscribers to make unfair profits.

Enforcement

HKMA Fines China CITIC Bank for Transaction Monitoring Deficiencies

By Sanday Chongo Kabange | 08/12/2024

The HKMA said 13 out of a total of 33 detection rules and two core model rules had not been implemented as intended.

Enforcement

SEBI Disposes of Proceedings Against Brickwork Ratings

By Editors | 07/12/2024

The settlement order requires Brickwork Ratings to pay a penalty. SEBI had previously cancelled the CRA’s licence but its order was overturned on appeal.