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SEC’s corruption penalties jump in 2021; billions in disgorgement and fines recorded

Premium November 19, 2021

Image: Securities & Exchange Commission

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NEWS: Influencer Heather ‘Razzlekhan’ Morgan sentenced to 18 months in prison for role in Bitfinex theft 

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NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

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NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

By Dan Byrne for AMLi

Fines, penalties, and sanctions from the US Securities Exchange Commission have increased by 7% this year, new data has shown.

In the twelve months to 1st October 2021, the SEC filed 697 enforcement actions that it said spanned “the entire securities waterfront,” – covering wrongdoings in areas like crypto, corporate senior management, and market fixing.

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Premium

NEWS: Influencer Heather ‘Razzlekhan’ Morgan sentenced to 18 months in prison for role in Bitfinex theft 

 Premium

NEWS: Swiss regulator FINMA warns of rise in crypto ‘stablecoins’ being used for money laundering

 Premium

NEWS: Eurojust to create new pan-EU body connecting judges with AML and AFC experts

Regulatory Watch News

  • Financial sanctions update: Russia

    OFSI

    10 entries added to the consolidated list

    On 19 November 2024 the Foreign, Commonwealth and Development Office updated the UK Sanctions List on GOV.UK. This list provides details of those designated under regulations made under the Sanctions Act. 10 entries have been added to the Russia financial sanctions regime and are now subject to an asset freeze and trusts services sanctions. More information can be found in the notice. OFSI’s consolidated list of asset freeze targets has been updated to reflect these changes.

  • Romania: EPPO conducts searches in probe into €2 million subsidy fraud for growing and packaging vegetables

    European Public Prosecutor's Office

    (Luxembourg, 19 November 2024) – The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca (Romania) is carrying out three house searches in Maramureș County, in an investigation into a suspected €2 million subsidy fraud, involving projects for growing and packaging vegetables.  On the radar of the EPPO are three projects to modernise a farm, financed by the European Agricultural Fund for Rural Development (EAFRD). The projects included the purchase of a line for sorting and packaging tomatoes and agricultural products, as well as the installation of photovoltaic panels for growing vegetables and other machinery.

  • Driving transparency, innovation, and compliance: the DFSA hosts Annual Outreach and releases 2024 Cyber Thematic Review

    DFSA

    Dubai, UAE, 19 November 2024: The Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC), today hosted its Annual Outreach session, drawing more than 500 participants from across the financial services sector. The event underscores the regulator’s commitment to enhancing industry collaboration, innovation, and compliance.

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