ENFORCEMENT

Enforcement

CBIRC 2020 Penalties Show Emphasis on Personal Accountability

By Editors | 22/05/2021

The CBIRC issued $350mn in fines against 3,178 banks and insurance firms in 2020. The number of individuals punished rose by about 30% from 2019.

Enforcement

SEC Penalises S&P Dow Jones Indices for Disclosure Failure

By Ranamita Chakraborty | 22/05/2021

The SEC settled charges against S&P DJI for the dissemination of stale index values which resulted from an undisclosed quality control feature.

Enforcement

HKEX Finalises Rule Changes to Enhance Market Quality

By Manesh Samtani | 21/05/2021

HKEX will increase the profit requirement to HKD 80 million in combined profits over the three years. Proposals to enhance its disciplinary powers and sanctions will also be adopted.

Enforcement

SFC to Investigate, Punish Misconduct in ‘Problematic’ IPOs

By Manesh Samtani | 20/05/2021

In a joint statement with the stock exchange, the SFC says it will not hesitate to take enforcement action against intermediaries for IPO-related misconduct.

Enforcement

ASIC Fines Macquarie Securities A$126,000 Over Algorithm Failure

By Editors | 19/05/2021

Macquarie Securities was meant to conduct a share buyback for a client via ordinary trading, but the trade went through ASX Centre Point, a dark market.

Crypto / Digital Assets

China Renews Crackdown on Cryptocurrencies

By Manesh Samtani | 19/05/2021

Three state-backed associations representing internet firms, banks, and payments companies have barred their members from providing crypto-related services to customers.

AML / KYC

US, UK, Canada Announce Fresh Sanctions Against Myanmar

By Sanday Chongo Kabange | 18/05/2021

The latest sanctions actions cite attacks and human rights violations against the people of Myanmar, including the killing of children.

AML / KYC

Former Manager of Sun Life HK Charged for Money Laundering

By Editors | 18/05/2021

The ICAC alleges that the former senior unit manager of Sun Life Hong Kong dealt with crime proceeds totalling over HKD 640,000.

Enforcement

SG Police Issue Cheating Charges in Nickel Trading Fraud Case

By Editors | 18/05/2021

With the latest charges, Ng Yu Zhi now faces a total of 18 counts of cheating, fraudulent trading and forgery. He will return to court on 28 June.