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United States
Enforcement
US PCAOB Fines Chinese Audit Firm and PwC Units
By Editors | 01/12/2023
PwC’s Hong Kong and China units were fined a combined $7mn for failing to prevent exam cheating by over 1,000 individuals between 2018 and 2020.
Sanctions
OFAC Sanctions Individuals Linked to Mexican Timeshare Frauds
By Editors | 01/12/2023
OFAC says the newly sanctioned individuals and entities are linked to timeshare frauds led by a Mexican drug cartel.
Crypto / Digital Assets
US Treasury Lobbies for Powers to Pursue Foreign Crypto Firms
By Editors | 30/11/2023
Deputy Secretary Wally Adeyemo said Treasury is calling for legislation authorising OFAC to exercise extraterritorial jurisdiction over transactions in USD-pegged stablecoins.
Securities / Derivatives
UK Court Rules That LME Nickel Trade Cancellations Were Lawful
By Editors | 30/11/2023
The court ruling supports the LME’s argument that its actions in March 2022 were necessary to prevent a potential market collapse.
Sanctions
OFAC Sanctions Hong Kong, Singapore Companies for Iran Trade
By Editors | 30/11/2023
Sanctions target more than 20 individuals and entities accused of facilitating Iranian defence sector through companies in Hong Kong, Singapore, and elsewhere.
Crypto / Digital Assets
Crypto Firm Zipmex Suspends Operations Due to Capital Shortfall
By Editors | 29/11/2023
Thailand’s laws require digital assets businesses to suspend business operations if they are unable to maintain the net liquid capital requirement.
Securities / Derivatives
Thai Bourse to Study Benefits of Programme Trading – Report
By Editors | 28/11/2023
The SEC asked the SET to study the use of trading programmes and high-frequency trading and submit the results to the regulator.
Crypto / Digital Assets
Philippine SEC to Ban Unregistered Foreign Trading Platforms
By Sanday Chongo Kabange | 28/11/2023
The SEC is planning to ban online stock and crypto trading platforms that are not registered to operate in the Philippines.
Crypto / Digital Assets
HK SFC Under Fresh Scrutiny Over Crypto Platform Hounax
By Sanday Chongo Kabange | 28/11/2023
The SFC is being accused of playing a “passive role” by not blocking suspicious crypto trading platform Hounax and preventing it from contacting the public.
AML / KYC
13 FIUs Establish Task Force to Disrupt Terrorist Financing
By Editors | 28/11/2023
The FIUs including FinCEN, UKFIU, AUSTRAC, and NZFIU established the task force last month but is publicly recognising its formation now.
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