ENFORCEMENT

    Enforcement

    Federal Court Imposes A$57.5m Penalty Against NAB Units

    By Editors | 13/09/2020

    NULIS Nominees and MLC Nominees admitted to misleading or deceptive conduct, false or misleading representations, and breaches of the ASIC Act and Corporations Act.

    Enforcement

    Shenzhen’s ChiNext Board Under Scanner for Corruption Risk

    By Editors | 13/09/2020

    China’s anti-graft watchdog is looking into whether wild swings may have been caused by insider trading or manipulation involving exchange officials.

    AML / KYC

    OFAC Settles Deutsche Bank Trust Sanctions Violations

    By Editors | 13/09/2020

    The settlement covers a large payment linked to a designated oil company and 61 payments made to a sanctioned bank in 2015.

    Enforcement

    HK Police Arrest 15 on Stock Manipulation Suspicions

    By Sanday Chongo Kabange | 10/09/2020

    Police believe the 15 individuals manipulated the stock price of Next Digital after its owner Jimmy Lai was arrested last month.

    Enforcement

    Bursa Malaysia Suspends Prop Trader For Order Book Manipulation

    By Sanday Chongo Kabange | 10/09/2020

    The trader placed buy orders at multiple price levels to induce other participants into the market and facilitate his own disposal of the shares at higher prices.

    Enforcement

    China Banking Association Publishes New Code of Ethics

    By Editors | 09/09/2020

    The new Code will establish a system to “blacklist” and “greylist” banking practitioners who violate laws, regulations and discipline, and impose new obligations on senior managers.

    Enforcement

    India’s Enforcement Directorate Fines StanChart $13.6mn

    By Editors | 08/09/2020

    Standard Chartered escrow accounts were used in 2007 to transfer shares in Tamilnad Mercantile Bank to overseas investors without the RBI’s permission.

    Enforcement

    Taiwan FSC Penalises 12 Futures Brokers Over Oil Trades

    By Lucy Zhang | 08/09/2020

    The futures brokers failed to announce negative oil prices in April and were unable to accept orders from clients, among other failures.

    Enforcement

    CBIRC Fines Four Banks and Huarong for Violations

    By Editors | 07/09/2020

    Minsheng Bank, Zheshang Bank, Guangfa Bank, Huaxia Bank and Huarong Asset Management were fined a combined 320mn yuan for various violations.

    Enforcement

    SFC Seeks Damages for Tianhe Investors Over Defective Prospectus

    By Editors | 07/09/2020

    The SFC’s investigation revealed that about 53% of Tianhe’s total track record revenue disclosed in its 2014 IPO prospectus was overstated.

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