The Monetary Authority of Singapore (MAS) is looking to broaden the horizons for investment opportunities by proposing a new regulatory framework. The idea is simple yet transformative—giving retail investors a chance to tap into private market investment funds, an area previously reserved for institutional players or the ultra-wealthy.
For those unfamiliar with Wyelands Bank, it has been around since 1980, but its fate took a significant turn when it was acquired in 2016 by a new owner. This acquisition placed the bank under the umbrella of the Gupta Family Group Alliance (GFG Alliance), a conglomerate with diverse interests, including steel, aluminum, and renewable energy. By 2019, the bank had shifted its primary focus to trade finance, with a staggering 84% of its business tied to GFG Alliance-related entities.
MORSE Corp, a defense contractor based in Cambridge, Massachusetts, has agreed to pay $4.6 million to settle allegations related to cybersecurity failures in its contracts with the U.S. Army and Air Force. The settlement comes after claims that the company submitted false payment requests despite knowing it had not met the necessary cybersecurity standards required by these contracts.
Poland’s Supreme Administrative Court (NSA) has ruled in favor of the Polish Financial Supervision Authority (KNF), rejecting an appeal from Raiffeisen Bank International (RBI) over a hefty fine for failing to properly fulfill its role as a depositary. This ruling, which dates back to February 13, 2025, strengthens the KNF’s oversight powers and sets a critical precedent for financial market supervision in the country.
This week, the Department of Justice (DOJ) announced two settlements involving False Claims Act (FCA) violations. Evolutions Flooring, a California-based importer, and Seoul Medical Group, a healthcare provider, will pay a combined total of over $70 million to resolve allegations of fraudulent activity. These settlements highlight the DOJ's ongoing efforts to enforce compliance and hold companies accountable for misrepresentations made to the U.S. government.
The General Court of the European Union has handed down a ruling on the high-profile cartel case in the European Government Bonds (EGBs) market, and while it’s largely business as usual for most of the banks involved, there’s a bit of a twist. While the court mostly upheld the European Commission’s 2021 decision, it did make some adjustments, particularly when it comes to the fines imposed on UniCredit and Nomura.
The U.S. Securities and Exchange Commission (SEC) is signaling a return to its traditional enforcement focus as it adjusts to new leadership. According to a report from Reuters, Sam Waldon, the SEC's acting enforcement director, made clear during a securities industry event on Monday that the agency under its new direction will zero in on more familiar ground—areas like insider trading, fraud targeting the elderly, and issues around accounting and disclosure violations.