BCSC issues first fine under new sanctions tool
The British Columbia Securities Commission (BCSC) imposed its first sanction under a new enforcement process that allows the regulator to impose penalties for relatively minor securities violations without first holding a hearing. The firm was fined $12,000 for violations related to insurance requirements. Capstone Asset Management Inc., a Langley, BC-based fund manager and exempt market […]
‘Despite sanctions, London is still a laundromat for dirty money from Russia’
Shadow Foreign Secretary David Lammy suggests the UK could be doing more to stop ‘dirty money’ flowing from Russia to London. Shadow Foreign Secretary David Lammy says the UK has led the way on sanctions against Russia following Vladimir Putin’s invasion of Ukraine, but he is concerned they are still not being implemented as effectively […]
Sanctions-hit Russian state bank VTB receives $1.8 billion in aid
Russia’s second-largest bank, VTB, said it has received 100 billion rubles ($1.8 billion) from the country’s national welfare fund as part of a plan to recapitalize the banking system hit by the falling ruble and Western sanctions. This is the first tranche of a 250 billion ruble deposit planned by the government for the state-owned […]
US to sanction Chinese officials for human rights violations
The United States has announced that it will impose visa restrictions on officials from the People’s Republic of China due to ongoing human rights abuses against minority groups. The decision is supported by relevant sections of the Immigration and Nationality Act. The alleged human rights violations include “ongoing genocide and crimes against humanity in Xinjiang, […]
Canada sanctions LiquiTrade: Cause is Securities Act violation
The BCSC found LiquiTrade guilty of operating an illegal exchange. This could result in sanctions ranging from a fine to a ban. A panel established by the British Columbia Securities Commission has found LiquiTrade guilty of operating an illegal exchange in Canada. LiquiTrade’s Latoken crypto exchange was first accused of violating Canada’s Securities Act in […]