Enforcement

Enforcement

Shanghai Court Jails Tycoon Xiao Jianhua, Fines Conglomerate

By Editors | 22/08/2022

Xiao Jianhua was handed a 13-year jail term and CNY 6.5 million fine. His company, Tomorrow Holding, was fined CNY 55 billion.

Enforcement

SFC Probes AMTD Over Past Underwriting Deals – Reports

By Editors | 22/08/2022

The full scope of the probe into AMTD Group and its current status are “unclear”, but it is said to be related to previous underwriting deals.

AML / KYC

Korean Authorities to Block, Investigate 16 Foreign Crypto Firms

By Editors | 21/08/2022

The unregistered foreign VASPs including KuCoin were referred for investigation and will have their websites and transactions blocked in Korea.

Enforcement

MAS Penalises Former UOBKH Representative for False Trading

By Editors | 19/08/2022

The former UOB Kay Hian trading representative committed false and unauthorised trading for a client who was himself sentenced in March 2021.

Enforcement

Wirecard-related Charges Filed in Singapore, Philippines

By Editors | 18/08/2022

The charges in Singapore are for criminal breach of trust and money laundering. A bank official in the Philippines was indicted.

AML / KYC

SEC Charges 18 for Manipulation Using Hacked Trading Accounts

By Editors | 18/08/2022

The hackers broke into at least 31 US retail brokerage accounts to buy stock to drive up prices and exit their positions at artificially high prices.

Enforcement

CSRC Probes China Merchants Securities Over 2014 Deal

By Editors | 18/08/2022

The investigation will impact any IPO applications being sponsored by China Merchants Securities.

Enforcement

CBIRC Fines New Times Trust, Bans Top Executives for Life

By Editors | 18/08/2022

New Times Trust, a unit of Tomorrow Group, was fined CNY 7 million. Nine former executives were warned, fined or otherwise penalised with lifetime bans.

Enforcement

Korea FSS Probes Korea Investment & Securities Over System Outage

By Editors | 18/08/2022

The system outage occurred due to an electrical short circuit at Korea Investment & Securities’ main data processing computer centre.