Regulatory Updates
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...
ADGM Introduces Consultation Paper for Fiat-Referenced Stablecoin Issuers
On 20 August, 2024, the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) issued Consultation Paper No. 7,...
Hong Kong Monetary Authority Imposes Penalty on WeChat Pay Hong Kong for Anti-Money Laundering Failures
The Hong Kong Monetary Authority (HKMA) has concluded its investigation into WeChat Pay Hong Kong Limited (WPHK), resulting in a HK$875,000 penalty...
CFTC Approves Kalshi Klear LLC Refistration as DCO: New Era of Event-Based Trading in the Financial Markets
On 29 August 2024, the Commodity Futures Trading Commission (CFTC) granted Kalshi Klear LLC an Order of Registration as a derivatives clearing...
Latvijas Banka invites Pre-Licensing Consultations Ahead of New EU Regulations
On 29 August 2024, the Bank of Latvia extended an invitation to crypto-asset service providers (CASPs) and consulting service providers to engage in...