Enforcement

Enforcement

S. Korea: Key Suspect Detained in Stock Manipulation Case

By Editors | 10/05/2023

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

Securities / Derivatives

International Court Reduces Compensation Korea Has to Pay Loan Star

By Editors | 09/05/2023

The Korean government would still have to pay $216mn to US private equity firm Lone Star, despite the reduction.

Enforcement

Chinese Police Arrest Billionaire Tycoon for Illegal Fundraising

By Editors | 09/05/2023

Police arrested the owner of commodities giant Cedar Holdings, which raised almost $3bn from investors which it has been unable to repay.

Enforcement

US Authorities Investigating Short Sales of Banking Stocks

By Editors | 09/05/2023

SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.

Enforcement

Australia: Medibank Faces Four Class Actions Over October Cyberattack

By Editors | 09/05/2023

The Federal Court is expected to consolidate the class actions. Medibank is also facing an investigation from Australia’s privacy regulator.

Crypto / Digital Assets

US SEC Ordered to Respond to Coinbase Petition Within 10 Days

By Editors | 08/05/2023

The SEC must indicate whether or not it will provide formal rule-making for the digital assets sector, and the reasons for its decision.

Enforcement

US SEC Issues Record-breaking $279m Whistleblower Award

By Editors | 08/05/2023

The size of the award should incentivise whistleblowers to come forward about potential securities law violations, said the SEC’s Gurbir Grewal.

Enforcement

China’s SAFE Fines Bank of Shanghai for FX-related Violations

By Editors | 08/05/2023

The fine is the largest issued against a Chinese bank this year. In 2022, Bank of Shanghai had more complaints against it than any other corporate bank.

Enforcement

Singapore Lays Three More Charges Against Hyflux Founder

By Editors | 07/05/2023

Singapore’s Public Accountants Oversight Committee has also issued orders against Hyflux auditors from KPMG LLC for five years of financial statements.