ENFORCEMENT

Enforcement

US Court Dismisses Collusion Case Against 10 Global Banks

By Sanday Chongo Kabange | 08/04/2021

The judge dismissed a case against 10 banks alleging manipulation of the US Treasuries market due to a lack of evidence of a conspiracy.

Enforcement

Ex-Shanghai Clearing House Chief Charged With Corruption

By Sanday Chongo Kabange | 08/04/2021

Xu Zhen was charged with corruption and bribery for violating rules on executive pay to benefit himself and those close to him.

Enforcement

SFC Wins Final Appeal in 2007 Insider Dealing Case

By Manesh Samtani | 07/04/2021

The Market Misconduct Tribunal and Court of Appeal both ruled against the SFC before the case was brought to the Court of Final Appeal.

Enforcement

SFC Adds ‘Ramp-and-Dump’ Syndicate Member to Wanted List

By Editors | 07/04/2021

An arrest warrant was issued for Zeng Lingxi, an alleged member of a syndicate suspected of operating ramp-and-dump scams on social media.

Enforcement

ASIC Launches Legal Action Against CBA for Overcharging Customers

By Editors | 06/04/2021

ASIC says CBA incorrectly charged monthly access fees to customers who were entitled to fee waivers between June 2010 and September 2019.

Enforcement

US SEC Opens Preliminary Investigation into Archegos Collapse

By Manesh Samtani | 06/04/2021

Credit Suisse expects a $4.7bn loss from the collapse of Archegos. The bank has suspended share buybacks, cut its dividend, and announced the departure of seven key executives.

Enforcement

Myanmar: Korean Banks Raise Vigilance After Employee Shooting

By Ranamita Chakraborty | 05/04/2021

A Shinhan Bank employee has died after being shot in the head by Myanmar’s military forces. Meanwhile, local private banks are being fined for remaining closed.

Enforcement

ASIC Bans Sale of Binary Options to Retail Clients

By Editors | 05/04/2021

The binary options ban will take effect from 3 May. A separate order imposing conditions on the issue and distribution of CFDs to retail clients has taken effect on 29 March.

Capital / Liquidity

APRA Raises Macquarie’s Capital, Liquidity Requirements

By Editors | 02/04/2021

Macquarie is said to have incorrectly treated specific intra-group funding arrangements for the purposes of calculating capital and related entity exposure metrics.