The Financial Industry Regulatory Authority (FINRA) has fined Ultima Global Markets (USA), Inc. $100,000 over significant anti-money laundering (AML) compliance shortcomings. This enforcement action underscores ongoing regulatory scrutiny of broker-dealers handling correspondent accounts.​ Incident Overview Ultima Global Markets, a New York-based FINRA member since January 2000, agreed to the penalty and a censure in a settlement announced on March 16, 2026. The violations sp

Canada has launched a significant escalation in its fight against money laundering through cryptocurrency services. On March 17, 2026, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) revoked the registrations of 23 money services businesses (MSBs) linked to crypto operations. This action underscores the government’s determination to safeguard the financial system from illicit activities. Finance Minister François-Philippe Champagne affirmed the move

The Financial Services and the Treasury Bureau (FSTB) published today (March 13) the consultation conclusions and specific measures on enhancing the regulation of licensed money lenders (money lenders) to address the issue of excessive borrowing and better protect the public. The FSTB will implement relevant measures in two phases.      The measures under the first phase mainly include introducing "debt servicing ratio" caps for unsecured personal loans of low-income earners,

The Eastern Magistrates’ Courts today granted an application by the Department of Justice to transfer a securities fraud case brought by the Securities and Futures Commission (SFC) to the District Court for criminal proceedings. This marks the first time in which a criminal prosecution for securities fraud involving illegal short selling under section 300 of the Securities and Futures Ordinance (SFO) will be held in the District Court. The first hearing in the District Court

The Securities and Futures Commission (SFC) has prohibited Mr Kuo Che-jung, a former responsible officer of Yuanta Securities (Hong Kong) Company Limited (Yuanta), from re-entering the industry for four and a half years from 19 March 2026 to 18 September 2030 and fined him $1 million for conducting matched trades in Hang Seng Index options and operating secret accounts (Notes 1 and 2). The disciplinary action follows an SFC investigation which found that, between 2 July 2020

The Securities and Futures Commission (SFC) today released a report on its review of the performance of The Stock Exchange of Hong Kong Limited (SEHK) in regulating listing matters during 2024 (Note 1). During the review, the SFC conducted an in-depth assessment of SEHK’s performance in vetting listed issuers’ internal control reviews and their handling of late auditor resignations (Note 2). The SFC also reviewed the general operations, processes and procedures of SEHK’s Lis

The Securities and Futures Commission (SFC) and the Independent Commission Against Corruption (ICAC) conducted a joint operation codenamed “Fuse” on 10 and 11 March 2026 targeting insider dealing and involving corruption. Senior executives of three licensed corporations, including two securities firms and a hedge fund management firm, were persons of interest in the case (Note 1). During the joint operation, officers of the SFC and the ICAC searched a total of 14 locations, i

On 5 March 2026, the Police and the Monetary Authority of Singapore (“MAS”)  jointly conducted enforcement operations against Capital Asia Investments Pte Ltd (“Capital Asia Investments”) and its directors for suspected money laundering offences under Section 54 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, and suspected failure to comply with various obligations as a licensed capital markets services licence holder under th

Kasim Garipoglu has been banned from working in UK financial services. The FCA found he is not fit and proper because of his lack of honesty and integrity.   Mr Garipoglu is the owner of a firm that provided online trading of foreign exchange and contracts. Between April 2012 and December 2022, including when Mr Garipoglu was the chief executive and director at the firm and an approved person, he repeatedly demonstrated a disregard for regulatory requirements, undermined comp