Trading

Reset Filter

Jurisdictions

Industry Sectors

Predicate Crimes

Enforcement

Regulatory Update

Featured Trading

FCA denies adviser authorisation over compliance concerns

An adviser who was in the past banned from functions of influence by the regulator has had his application to set up a new advice firm denied by Financial Conduct Authority. A final notice published on the watchdog’s website last week (March 27) shows it refused an application for authorisation submitted by NestHaven… Read More

Old Mutual faces potential money laundering charges in Zimbabwe

The Securities and Exchange Commission of Zimbabwe (SECZ) has launched an investigation into suspected illicit activities surrounding trading in fungible stocks linked to three listed companies — Old Mutual, PPC Limited and Seed Co International. Government recently suspended the fungibility of the stocks. Fungibility means that shareholders from the three… Read More

Canada’s money-laundering monitor now triaging reporting process by COVID-19-hit businesses

While crooks and terrorists are as susceptible to COVID-19 as other mortals, underworld cash always seems immune, so Canada’s money-laundering monitor has begun triaging financial transaction reports during the pandemic. Staffing shortages and business disruption forced by the coronavirus prompted the Financial Transactions and Reports Analysis Centre of Canada, known… Read More

27th March 2020

U.S. corporate crisis bailouts may prove bonanza for insider trading, new study warns

White-collar crime prosecutors and defense attorneys are likely to be busy following a massive economic stimulus package from the U.S. Congress aimed at mitigating the fallout from the coronavirus, according to a new academic study of insider trading. The research, from scholars at the University of Pennsylvania’s Wharton School, Stanford… Read More

26th March 2020

Former Hong Kong Exchanges and Clearing senior executive charged for accepting HK$9.15 million in bribes

The Independent Commission Against Corruption (ICAC), Hong Kong’s anti-corruption watchdog, charged a former senior executive of bourse operator Hong Kong Exchanges and Clearing on Wednesday for accepting HK$9.15 million (US$1.18 million) in bribes between 2017 and 2019. Eugene Yeoh Kim-loong, 43, the former joint-head of the initial public offering (IPO)… Read More

26th March 2020

Cum-Ex Trading: Challenges for Regulators

“This was a collective case of thievery from state coffers”—so declared presiding Judge Roland Zickler of the Bonn criminal court in December 2019 at the trial of Martin Shields and Nicholas Diable, two British traders charged with aggravated tax evasion in Germany’s biggest post-war fraud prosecution. Although this was only… Read More

23rd March 2020

Deutsche Bank Says Five Ex-Board Members Probed Over Cum-Ex

Deutsche Bank AG said five former management board members are under investigation for tax evasion, days after the first two bankers were convicted in Germany’s long-running Cum-Ex scandal. The bank disclosed the information in its annual report Friday without identifying the board members. The bank said it may also… Read More

19th March 2020

London Bankers Avoid Jail Time in First German Cum-Ex Trial

Two former London investment bankers were convicted of tax evasion at Germany’s first trial over so-called Cum-Ex trades in a landmark ruling that could lead to hundreds more cases. The bankers, Martin Shields and Nicholas Diable, were able to avoid jail by cooperating with prosecutors. The Bonn court gave both… Read More

16th March 2020

London bank accounts that could hold key to dead crypto tycoon’s lost millions

A suspicious death and a frantic race to prevent a body decomposing. A missing £140m. And, in London, frozen HSBC accounts which could solve a year-long, complex mystery that has captivated the internet and ruined thousands. Welcome to the Quadriga affair, a grim, global treasure-hunt whose clues have surfaced in… Read More

16th March 2020

BMO Harris Must Faces $3.5 Billion Trial Over Ponzi Scheme

BMO Harris Bank, a unit of Bank of Montreal, must face billions of dollars in investor claims tied to a massive Ponzi scheme run by former client Tom Petters, a judge ruled. A request by BMO Harris to have the case thrown out before trial was rejected Friday… Read More

13th March 2020

U.S. slaps sanctions on unit of Russia’s Rosneft over Venezuela

The United States on Thursday imposed sanctions on another subsidiary of Rosneft, ramping up pressure on the Russian state oil giant that the Trump administration has said provides a financial lifeline to Venezuelan President Nicolas Maduro. The U.S. Treasury Department blacklisted TNK Trading International, a Swiss-based unit of Rosneft. Washington… Read More

12th March 2020

Bankers in Tax Scandal Trial Fear ‘Financial Annihilation’

The two former investment bankers standing trial in Germany over their role in controversial dividend-tax deals have sought to avoid jail time by cooperating with authorities. Now the pair face another threat: a massive, 207 million euros ($233 million) tax bill slapped on them by the Federal Tax Office. Martin… Read More

4th March 2020

Illicit finance hidden in trade numbers fed $9tn loss for developing nations: GFI

Trade-based money laundering (TBML) and tax evasion contributed to a nearly $9-trillion loss for developing countries between 2008 and 2017, according to a report published on Tuesday. Washington, DC-based Global Financial Integrity (GFI) analysed inconsistencies in import and export values between a developing economy and its developed economic partner. Adding… Read More

Must Read

Opaque Coronavirus Procurement Deal Hands Millions to Slovenian Gambling Mogul

Sanctioned Hezbollah agent has close ties to Iran’s money laundering network in Iraq

Casino company Caesars Entertainment fined record £13m for compliance violations

Ask for a selfie: UK financial watchdog eases rules in pandemic

U.K. Regulator Fines KPMG, Partner for Audit Failures