Regulatory Updates
WazirX Moratorium Proceedings Update: Second Affidavit and Subsequent Findings
On 10 September 2024, while considering the second affidavit filed by Nischal Shetty, authorised representative for Zettai Pte. Ltd, the Singapore...
US PCAOB Publishes New QC 1000 Guidelines to Strengthen Audit Quality, Effective January 2025
On September 9, 2024, the United States’ Public Company Accounting Oversight Board (PCAOB), with the approval of the United States Securities and...
U.S. District Court Issues Permanent Injunction and $7 Million Disgorgement Against Yakov Cohen in Binary Options Fraud Case
On 5 September, 2024, the United States District Court for the Northern District of Illinois issued a Consent Order for Permanent Injunction and...
US Court Partially Grants Coinbase’s Motion in Legal Battle with US SEC
On 5 September 2024, U.S. District Judge Katherine Polk Failla issued a ruling in the ongoing legal case between the U.S. Securities and Exchange...
FCA’s New Listing Rules and Digital Securities Sandbox: Insights from Sarah Pritchard’s Speech
On 6 September 2024, Sarah Pritchard, the Executive Director of Markets and International at the UK’s Financial Conduct Authority (UK FCA),...
United Texas Bank Issued Cease and Desist Order by Federal Reserve U.S.A.
On 4 September 2024, the Board of Governors of the Federal Reserve System announced enforcement action against the United Texas Bank. The Federal...
WazirX Parent Zettai Pte. Ltd. Court Proceedings Update: Moratorium Hearing Scheduled for 25 September 2024
On 3 September 2024, a case conference was convened in the General Division of the Singapore High Court concerning Zettai Pte. Ltd., the parent...
CFTC Orders Uniswap Labs to pay $175K Penalty for Breaking the Rules in DeFi Dealings
On September 4, 2024, the Commodity Futures Trading Commission (CFTC) issued an Order Instituting Proceedings and imposed remedial sanctions against...
SEC Charges Six Credit Rating Agencies with $49 Million in Penalties for Recordkeeping Failures
On 3 September 2024, the U.S. Securities and Exchange Commission (US SEC) charged six nationally recognized statistical rating organizations for...
MAS Issues Prohibition Order Against Former Broker Involved in Market Misconduct
On 3 September 2024, the Monetary Authority of Singapore (MAS) issued a five-year prohibition order (PO) against Mr. Chong Yew Mun Alan, a former...
U.S. Court Orders $230 Million in Penalties for Fraud in Commodity and Digital Asset Trading
On 3 September, 2024, the Commodity Futures Trading Commission (CFTC) announced the penalty imposed by Judge Mary Rowland of the United States...
WazirX Parent Company Seeks Moratorium in Singapore High Court Amid Financial Crisis
On 27 August 2024, Zettai Pte. Ltd., the parent company of the cryptocurrency exchange WazirX, filed an application with the Singapore High Court...