Enforcement

Enforcement

Korea FSS to Impose Penalties on 9 Market Makers

By Editors | 08/09/2021

Three foreign firms and six local firms are accused of disturbing market order through their negative influence on stock prices.

Enforcement

FSS Korea Warns KB Savings Bank Over Lax Lending Controls

By Editors | 08/09/2021

KB Savings Bank increased its household lending by raising internal limits and discounting interest rates, without a strict review process and proper oversight.

Enforcement

CSRC to Bolster Supervision of Securities, Fund Practitioners

By Sanday Chongo Kabange | 08/09/2021

The CSRC will organise on-site inspections to ensure securities and fund practitioners adhere to professional ethics obligations and improve governance.

Enforcement

BaFin Joins US SEC, DOJ in Probing Collapsed Allianz Funds

By Ranamita Chakraborty | 07/09/2021

Allianz is facing probes from BaFin, SEC and DOJ, as well as 25 investor lawsuits, over last year’s collapse of its Structured Alpha Funds.

Crypto / Digital Assets

US SEC Charges BitConnect for $2bn Cryptocurrency Fraud

By Editors | 06/09/2021

BitConnect promised investors lucrative returns through the use of a proprietary trading bot, but investor funds were siphoned off by the company’s founder and others.

Enforcement

MAS Orders Halt to Singapore Services From Binance.com

By Editors | 05/09/2021

Binance Asia Services, which operates Binance.sg, is a “distinct entity” and may still operate under an exemption while its licence application is under review.

Enforcement

Singapore: 20 More Charges Laid in Nickel Trading Fraud Case

By Editors | 03/09/2021

Ng Yu Zhi has been charged with 20 new counts of cheating, bringing the total number of charges he faces to 51.

Enforcement

MAS Bans Ex-UOBKH Employees for Making False Statements

By Ranamita Chakraborty | 03/09/2021

The individuals provided false information to MAS when it was checking whether background checks were included in due diligence for the IPO of a Catalist listed company.

Enforcement

Mizuho Unable to Identify Cause of System Failure

By Editors | 02/09/2021

In a report to the FSA, Mizuho says it will revamp its system restoration procedures, review its customer response measures, and reassess its core banking system.