Market Abuse

Ex-Coinbase Employee Sentenced to Jail for Insider Trading

11/05/2023

The former Coinbase product manager was sentenced to two years in prison for feeding his brother and a friend information about upcoming crypto listings.

Conduct, Culture & Accountability

Goldman Sachs Settles Gender Bias Lawsuit for $215m

11/05/2023

The settlement requires Goldman to hire independent experts to analyse its gender pay gaps and performance evaluation and career advancement processes.

Reporting & Disclosures

ASIC Offers Guidance on Avoiding Greenwashing Penalties

11/05/2023

ASIC has taken 35 actions against greenwashing since July 2022. It has several other investigations underway and anticipates further regulatory action.

Capital Adequacy

HKMA Specifies Regulatory Treatment of Swap Connect Margins

10/05/2023

Margins posted by banks to OTC Clear for participating in Swap Connect should be treated in the same manner as default fund contributions.

Market Abuse

S. Korea: Key Suspect Detained in Stock Manipulation Case

10/05/2023

Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.

Structural Regulation

IOSCO Publishes Guidance on Enhancing SPAC Regulations

10/05/2023

The report focuses on addressing dilution risk, the protection of retail investors, and the “significant backlog” of SPACs seeking to avoid liquidation.

Data Privacy

HKMA Issues Regtech Guide on Protecting Customer Data

10/05/2023

The guide offers implementation advice for using Regtech solutions to enhance customer privacy protection and streamline data processing operations.

Trading & Investment

Hong Kong Passes Bill to Grant Tax Incentives to Family Offices

10/05/2023

The tax concession will be applicable to any years of assessment commencing on or after 1 April 2022.

Data Privacy

China Tightens Scrutiny of Foreign Consulting and Audit Firms

10/05/2023

Capvision is accused of stealing state secrets, foreign auditors are under increased scrutiny, and Chinese data providers are blocking overseas access to their databases.