January 2021 Regulatory Updates
Regulatory Actions and Updates from Around the Globe
Enforcement Highlights – January 2021
United States:
- 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.
Germany:
- BaFin imposed a EUR 282,500 fine on SLEEPZ AG e-commerce group for failing to comply with financial reporting requirements.
Hong Kong:
- The Securities and Futures Commission (SFC) has issued restriction notices to five brokers to freeze client accounts related to suspected market manipulation.
Regulatory Updates
Austria:
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.
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FMA announced that it has granted registration to 18 virtual asset providers since tightening anti-money laundering regulations in January 2020.
Past events:
Mergers & Acquisitions – The Future of Enhanced Due Diligence
Missed our January 2021 Fireside Chat? Watch the full event where guest panelists discuss the trends for enhanced due diligence within mergers and acquisitions for both buyers and sellers, and the importance that proper due diligence plays in successful M&A transactions.
learn more
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The Evolution of Blockchain Assets and the Regulatory Silver Lining
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Ashley Viens, COO
Ashley Viens is the Chief Operating Officer for iComply and boasts an extensive communication, management, design, and sales background. Joining Origami Accounting in 2014 as Account Manager, she led and supported the expansion of their Saskatchewan, B.C., and Ontario...
Shane Sibley, Business Development
Shane brings a robust experience in account management and financial management planning, having worked with CIBC Wood Gundy for the Balogh Financial Group and Manulife Investments for several years prior to joining iComply. His diverse skill set includes wealth...
