Tag: Review
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Regulatory Watch News
Customs finds exceptionally large quantity of counterfeit clothing
Fiscal Information and Investigation Service - FIOD
During a regular excise inspection on February 5, Customs discovered an unusually large quantity of counterfeit goods in a warehouse in Montfoort (Utrecht). The case was subsequently transferred to the Fiscal Information and Investigation Service (FIOD), which initiated a criminal investigation under the supervision of the Public Prosecution Service's Office.
An estimated tens of thousands of counterfeit clothing and accessories from luxury brands such as Hermès, Jacob Cohën, Moncler, Dior, Stone Island, and Casablanca were found in the warehouse. It is suspected that the inventory was destined for multiple outlets.
The DFSA fines Ark Capital Management (Dubai) Limited USD 504,000 for market abuse systems and change of control reporting failings
DFSA
The Dubai Financial Services Authority (DFSA), the independent banking, financial services, and markets regulator of Dubai International Financial Centre (DIFC) has imposed a fine of USD 504,000 (AED 1,850,940) on Ark Capital Management (Dubai) Limited (ARK) for having inadequate market abuse systems and controls, and for failing to notify the DFSA of a proposed change in control.
SFC convenes third Digital Asset Consultative Panel meeting
Securities and Futures Commission
The Securities and Futures Commission (SFC) today convened the third meeting of the Digital Asset Consultative Panel (DACP), bringing together SFC-licensed virtual asset trading platforms (VATPs) to discuss forthcoming regulatory developments for digital assets in Hong Kong. At the meeting, participants discussed initiatives aimed at strengthening the digital asset ecosystem, including regulatory measures to enhance liquidity on licensed VATPs and to expand the range of product and service offerings.
