latest news

For the latest iComply & Global Digital Finance news.

April 2021 Regulatory Updates

May 5, 2021 | Compliance Updates, iComply Insights

Regulatory Actions and Updates from Around the Globe

Enforcement Highlights
– April 2021


United States: 


  • The SEC awarded over USD $3 million to two whistleblowers who brought to light key issues and violations to help improve SEC’s ongoing compliance efforts.


  • SEC filed charges against 8 companies for failing to disclose complete reporting information on required Form 12b-25 filings.


  • The SEC charged fund manager and former race car team owner Andrew T. Franzone with multimillion-dollar investment fraud and misappropriation scheme.


  • The SEC filed charges against Spot Tech House Ltd., a binary options trading platform, and two of its top executives with defrauding investors out of more than USD $100 million through unregistered online sales.


  • The SEC charged seven individuals with defrauding investors out of more than USD $16 million through an oil-and-gas market manipulation scheme.


United Kingdom:


  • The Financial Conduct Authority (FCA) commenced criminal proceedings against 2 individuals for conducting unauthorized regulated business activities in the UK.


  • The FCA banned and fined UK financial adviser Simon Varley £68,300 for providing unqualified, dishonest financial advice to retail customers.


Hong Kong:


  • The Securities and Futures Commission (SFC) fined Optimas Capital Limited $1.05 million over multiple failures with their short position reporting processes.


  • The Market Misconduct Tribunal (MMT) sanctioned two former executives of Asia Telemedia Limited (ATML), now known as Yunfeng Financial Group Limited, for insider dealing.



learn more

Is your AML compliance too expensive, time-consuming, or ineffective?

iComply enables financial services providers to reduce costs, risk, and complexity and improve staff capacity, effectiveness, and customer experience.

Request a demo today.

KYC for Banking – Made Simple with iComply
KYC for Banking – Made Simple with iComply

Is your banking institution set up for success and compliance in 2023? With the financial and digital asset markets experiencing a tumultuous time after the extreme fluctuations faced during the peak of COVID-19, there’s never been a more important time to double down...

How to Spot Fraudulent Users with KYC Protocols
How to Spot Fraudulent Users with KYC Protocols

While we often speak about the many risks and crimes that Know Your Customer (KYC) protocols help to circumvent (the reactive approach), the cybersecurity industry can sometimes forget to highlight the specific ways KYC software and practices offer protection (the...

Eye On Compliance in 2023: Top KYC Trends
Eye On Compliance in 2023: Top KYC Trends

As Q2 of 2023 ramps up, the compliance industry continues to face a fast-paced environment of global changes and challenges when implementing protective measures against fraud, money laundering (AML), and other forms of financial crime (FinCrime). 2022 brought no...