Quebec’s securities tribunal has imposed more than $1 million in penalties and sweeping market bans after concluding that a group tied to Ace Prime Group and Axes-Prime Ltd. orchestrated a fraudulent online investment scheme that left most investors with little to show for their money.
Phishing attacks are a daily reality for banks and their customers alike. But under the EU’s Digital Operational Resilience Act, not every phishing email belongs in a regulator’s incident inbox. That distinction is now clearer following a formal question from Germany’s financial supervisor, BaFin.
The Federal Trade Commission has delivered its second report to Congress outlining how the agency is using its enforcement, oversight, and education authorities to counter ransomware and other cyberattacks, according to a release issued February 6.
Banks and credit market companies in Sweden have largely effective processes for managing operational risk, but there is still significant room for improvement, according to a new in-depth analysis published Thursday by the Swedish Financial Supervisory Authority.
The Dubai Financial Services Authority has fined Ark Capital Management $504,000 (AED 1,850,940), citing weaknesses in the firm’s market abuse controls and a failure to keep the regulator informed about a proposed change in ownership.
South Korea’s financial intelligence authority is preparing for a significant expansion of its anti-money laundering and counter-terrorist financing regime, as it confronts a sharp rise in cross-border crime, increasingly sophisticated scams, and fast-moving risks tied to virtual assets.
Canada’s financial consumer watchdog has shed more light on a long-running fee disclosure breakdown at the Bank of Montreal, saying internal control gaps allowed erroneous charges to persist for more than a decade and affect over 100,000 customers.