January 2021 Regulatory Updates
Regulatory Actions and Updates from Around the Globe
Enforcement Highlights – January 2021
- The Securities and Exchange Commission (SEC) charged online entertainment and live streaming company Vuuzle Media USD $14 million for securities fraud.
- Fund manager at MG Capital Management real estate fund was charged by the SEC with misappropriating $7 million from retail investors.
- The SEC charged Deutsche Bank AG with violations of the Foreign Corrupt Practices Act (FCPA) due to a lack of sufficient internal accounting controls. The bank agreed to pay $43 million in disgorgement and interest.
- BaFin imposed a EUR 282,500 fine on SLEEPZ AG e-commerce group for failing to comply with financial reporting requirements.
- The Securities and Futures Commission (SFC) has issued restriction notices to five brokers to freeze client accounts related to suspected market manipulation.
An Austrian startup building an app for trading in security tokens became the first fintech company to be admitted to Austria’s Financial Market Authority (FMA) regulatory sandbox.
FMA announced that it has granted registration to 18 virtual asset providers since tightening anti-money laundering regulations in January 2020.
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Thomson Reuters has launched its Marketplace, featuring a curated selection of software solutions for law firms, corporate law offices, and tax and accounting professionals
The latest notes from iComply’s most comprehensive release yet, with more workflow automation, enhanced security features, and several UI enhancements.
Regulatory actions and industry updates from financial authorities and regulators around the globe in March 2021