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Market Abuse
Japan SESC Seeks Penalty Order Against SMBC Nikko Securities
By Editors | 30/09/2022
The SESC has recommended that the FSA punish SMBC Nikko Securities for stock price manipulation and shortfalls in its trading surveillance system.
Market Abuse
Thai SEC Takes Legal Action Against Wash Trading in Crypto
By Sanday Chongo Kabange | 30/09/2022
The prosecution is required because the defendants, including two entities and three individuals, did not agree to the penalties prescribed by the SEC.
KYC & CDD
FinCEN Issues Final Rule for Beneficial Ownership Reporting
By Editors | 30/09/2022
The rule is effective from 1 January 2024. Existing companies will have one year to report information about their beneficial owners to FinCEN.
CBDCs
China to Strengthen ‘Controllable Anonymity’ Feature of e-CNY
By Darien Choong | 30/09/2022
Twenty defendants have been arrested on suspicion of illegal business activity and money laundering using the e-CNY.
PEPs & Sanctions
Turkish Banks to Stop Using Russia’s Mir Payment System
By Editors | 30/09/2022
Three Turkish state banks will stop using the Mir system in response to guidance issued by OFAC earlier this month. Two others stopped last week.
Market Abuse
FSC Korea to Introduce New Penalties for Unfair Trade Practices
By Sanday Chongo Kabange | 30/09/2022
Violators could be banned from trading, account opening, and serving as listed company directors for up to 10 years.
Anti-Bribery & Corruption
US SEC Penalises Oracle for FCPA Violations by Foreign Subsidiaries
By Editors | 30/09/2022
Oracle subsidiaries in Turkey, the UAE, and India used slush funds to bribe foreign officials in return for business between 2016 and 2019.
PEPs & Sanctions
G7 Nations Imposing New Russia Sanctions Over “Sham” Referendums
By Manesh Samtani | 30/09/2022
The EU package includes an oil price cap and a complete ban on providing crypto services to Russians. UK targets include Gazprombank, Sberbank and Sovcombank board members.
Market Abuse
SFC Suspends Hedge Fund Manager for Two Years
By Editors | 29/09/2022
The hedge fund manager used non-public information from a market sounding call to trade short swaps on a KRX-listed stock.
Anti-Money Laundering
Japan to Adopt Travel Rule in Crypto in May 2023 – Report
By Editors | 29/09/2022
The FSA plans to submit amendments to the Act on Prevention of Transfer of Criminal Proceeds to a parliamentary session next week.
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