Enforcement

Crypto / Digital Assets

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

By Editors | 08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.

Enforcement

US SEC Issues Record-breaking $279m Whistleblower Award

By Editors | 08/05/2023

The size of the award should incentivise whistleblowers to come forward about potential securities law violations, said the SEC’s Gurbir Grewal.

Enforcement

China’s SAFE Fines Bank of Shanghai for FX-related Violations

By Editors | 08/05/2023

The fine is the largest issued against a Chinese bank this year. In 2022, Bank of Shanghai had more complaints against it than any other corporate bank.

Enforcement

Singapore Lays Three More Charges Against Hyflux Founder

By Editors | 07/05/2023

Singapore’s Public Accountants Oversight Committee has also issued orders against Hyflux auditors from KPMG LLC for five years of financial statements.

Capital / Liquidity

US SEC Probing Insider Trading by First Republic Execs – Report

By Editors | 07/05/2023

The SEC is looking into whether executives of First Republic improperly traded on inside information before the government seized the bank and sold it to JPMorgan.

Enforcement

NYDFS Fines BitFlyer for Deficient Cybersecurity Programme

By Editors | 07/05/2023

BitFlyer USA did not perform risk assessments, implement a written cybersecurity policy, or conduct annual reviews. The firm said it has completed over 90% of its planned remediation work.

Enforcement

India Supreme Court Allows Prosecution of Deloitte, KPMG Units

By Editors | 07/05/2023

Supreme Court ruling allows criminal complaints against Deloitte Haskins & Sells and BSR & Associates over their handling of IL&FS audits to proceed.

Enforcement

UK FCA Fines Banque Havilland for Alleged Manipulative Trading

By Sanday Chongo Kabange | 06/05/2023

Banque Havilland employees including the CEO created and distributed a document containing “manipulative trading strategies” aimed at harming Qatar’s economy.

Enforcement

FSS Korea Uncovers First “Malicious” Cases of Naked Short Selling

By Editors | 06/05/2023

The FSS uncovered cases where market participants deliberately short-sold securities without first borrowing the stock in a bid to “maximise trading profits”.