Financial Crime

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    Anti-Money Laundering

    Singapore Raises Fines for Money Laundering Breaches by CSPs

    By Nithya Subramanian | 04/07/2024

    Existing laws have been amended to ensure that nominee directors are deemed “fit and proper” and misuse of directorships can result in significant penalties.

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    Market Abuse

    Singapore Jails Former Fund Manager for Deceptive Conduct

    By Editors | 04/07/2024

    Sun Weiyeh is the first to be convicted under the SFA for fraudulent or deceptive conduct relating to OTC bond trading.

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    Market Abuse

    MAS Fines GSG Capital Director for Insider Trading

    By Editors | 04/07/2024

    The sole shareholder and director of GSG Capital bought shares in SGX-listed GS Holdings while in possession of material non-public information.

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    Cryptocurrency

    Russia Urges Crypto Use for Cross-border Payments

    By Editors | 04/07/2024

    CBR governor Elvira Nabiullina said Russia has softened its stance on the use of cryptocurrencies in international payments.

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    Market Abuse

    Korea Imposes Largest Ever Short-Selling Fine on Credit Suisse

    By Sanday Chongo Kabange | 04/07/2024

    The SFC has imposed a $19.5 million combined fine on Credit Suisse and its Singapore affiliate for naked short sale activities.

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    Anti-Money Laundering

    Singapore Introduces New Anti-Money Laundering Bill

    By Nithya Subramanian | 04/07/2024

    The new Anti-Money Laundering and Other Matters Bill aims to make it easier to prosecute money laundering cases and tightens casino rules.

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    Market Abuse

    Korea FSS to Penalise KB Securities and Hana Securities

    By Editors | 04/07/2024

    The brokerage firms engaged in illegal self-trading to transfer profits and losses of some customers to other customers.

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    Operational Risk

    APRA, ASIC Find Gaps in Super Trustees’ Retirement Strategies

    By Sanday Chongo Kabange | 04/07/2024

    ASIC and APRA have urged super trustees to strengthen oversight of retirement strategy implementation after a survey found gaps.

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    Market Abuse

    SEBI Issues Show Cause Notice to Hindenburg Over Adani Report

    By Ajoy K Das | 03/07/2024

    Allegations of manipulation and unfair practices in shorting Adani Group stocks were dismissed by Hindenburg as “nonsense and fabricated.”

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    Anti-Money Laundering

    US Regulators Announce $63m Settlement With Silvergate

    By Manesh Samtani | 03/07/2024

    Silvergate, once a popular bank for crypto firms, agreed to penalties for AML noncompliance and misleading statements to investors.

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