Enforcement

Enforcement

New York Court Dismisses Tom Hayes LIBOR Rigging Case

By Editors | 01/11/2022

US prosecutors had filed a motion to dismiss the case after two other traders were acquitted in January. Hayes is still trying to get his UK conviction overturned.

Enforcement

SMBC Nikko Securities Pleads Guilty to Stock Price Manipulation

By Editors | 30/10/2022

SMBC Nikko has already been ordered to suspend its block trading business for 3 months. The trial is set to end on 26 Dec and a verdict delivered on 13 Feb.

Enforcement

SFC Disciplines Takeovers Code Breach with ‘Public Criticism’

By Editors | 30/10/2022

Gold Dragon Worldwide Asset Management failed to disclose trades in a stock during an offer period despite it controlling more than 5 percent of the stock.

AML / KYC

Top Prosecutor Arrests Former China Merchants Bank President

By Editors | 29/10/2022

The arrest followed the completion of an investigation into allegations of bribery, abuse of power, and trading on nonpublic information.

Enforcement

ASIC Issues First Penalty Over Greenwashing Concerns

By Editors | 29/10/2022

ASIC said Tlou Energy made “false or misleading sustainability-related statements” in materials filed with ASX about its energy production.

Enforcement

Australia Increases Penalties for Anti-Competitive Conduct

By Editors | 28/10/2022

Maximum penalties for companies can be as high as A$50mn, three times the benefit derived from a breach, or 30% of annual turnover.

Enforcement

CommSec, AUSIEX Fined A$27m for Market Integrity Rule Breaches

By Editors | 27/10/2022

CommSec and AUSIEX demonstrated “widespread, systemic compliance failures” over a nine-year period, said ASIC deputy chair Sarah Court.

AML / KYC

Hong Kong Customs Arrests Two for Laundering HK$3.5bn

By Editors | 27/10/2022

The money was laundered by reselling precious metals. The case is the largest-ever money laundering case for Hong Kong Customs.

Enforcement

HKEX Issues New Guidance Note, Revises Sanctions Statement

By Sanday Chongo Kabange | 27/10/2022

Parties are expected to cooperate with HKEX during its investigations and disciplinary actions, the new Guidance Note on Cooperation says.