Enforcement

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    Crypto / Digital Assets

    US SEC Forces Shut Down of Crypto Platform Beaxy

    By Sanday Chongo Kabange | 30/03/2023

    The SEC charged Beaxy and its affiliates for performing the functions of an exchange, broker, clearing agency, and dealer without registration.

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    Enforcement

    ASIC Commences Probe into Regulatory Breaches by ASX

    By Sanday Chongo Kabange | 30/03/2023

    ASIC is investigating whether ASX breached the law in its oversight of and disclosures relating to the CHESS replacement programme.

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    ESG / Sustainability

    Vanguard Issued Warning in NZ for Late Disclosure of ASIC Action

    By Editors | 30/03/2023

    Vanguard took 55 business days to file a notice on New Zealand’s register about ASIC’s enforcement action. The requirement is 5 business days.

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    AML / KYC

    Credit Suisse Violated 2014 Plea Deal with US DOJ

    By Manesh Samtani | 30/03/2023

    UBS could be forced to pay US authorities $1.3bn – the amount Credit Suisse had discounted from its 2014 plea deal.

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    AML / KYC

    Five Banks Searched in French Tax Fraud Probe

    By Editors | 29/03/2023

    Four major French banks and a foreign bank were targeted by simultaneous searches related to the so-called “Cum-Ex” tax scandal.

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    Enforcement

    JPMorgan’s Dimon to Give Sworn Deposition for Epstein Lawsuits

    By Editors | 29/03/2023

    Last week, a judge ruled that JPMorgan Chase and Deutsche Bank must both face sex trafficking lawsuits related to the late Jeffrey Epstein.

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    Enforcement

    Malaysian Court Jails Former Hong Leong Investment Banker

    By Editors | 29/03/2023

    The former investment banker convinced investors to invest over $390,000 in securities products that did not exist.

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    Enforcement

    ASIC Fines ALT Financial Group for Failing To Lodge Financial Reports

    By Editors | 29/03/2023

    The fine was one of the largest ever issued by ASIC for failures to lodge financial reports. ALT Financial Group was convicted in absentia on 13 ASIC charges.

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    Enforcement

    US Prosecutors Charge FTX Founder for FCPA Violation

    By Editors | 29/03/2023

    Sam Bankman-Fried allegedly bribed at least one Chinese official to secure the release of $1bn in frozen assets.

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    Capital / Liquidity

    FINMA May Discipline Credit Suisse Managers

    By Editors | 29/03/2023

    FINMA president Marlene Amstad said Credit Suisse had a cultural problem and made numerous mistakes over several years.

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