Enforcement

Enforcement

CFTC Settles Charges Against Citi Over Deleted Audio Recordings

By Editors | 01/10/2020

Citi’s audio preservation system deleted more than 2.77 million audio files, including recordings that were subject to a December 2017 CFTC subpoena.

Enforcement

ASIC Commences Proceedings Against Cigno, BHF Solutions

By Editors | 01/10/2020

Both companies have been providing credit to a large number of consumers and charging “substantial fees”, without holding an Australian credit licence.

Enforcement

US Authorities Settle JP Morgan Spoofing Charges for $920m

By Editors | 01/10/2020

The settlement will fully resolve investigations carried out by the DOJ, CFTC and SEC into trades made over nearly ten years.

Enforcement

Japan FSA Demands Explanation for Miscounted Shareholder Votes

By Editors | 30/09/2020

Sumitomo Mitsui Trust and Mizuho Trust could face business improvement orders, depending on their explanations and the measures they have planned to prevent recurrence.

Enforcement

Korean Prosecutors Raid KEB Hana Bank over Optimus Fund Mis-selling

By Editors | 30/09/2020

Prosecutors are looking to determine whether the bank purchased privately placed bonds under Optimus’ request or instruction.

Enforcement

Two Ex-Deutsche Traders Convicted in Spoofing Case

By Sanday Chongo Kabange | 29/09/2020

The two former traders were found guilty of fraud charges for their respective roles in manipulating gold and silver futures prices.

Enforcement

Seoul Court Sentences Ex-Shinhan Exec to Eight Years’ Jail

By Sanday Chongo Kabange | 29/09/2020

The former executive was convicted for accepting bribes, deceiving investors, concealing losses in Lime Asset Management fund products.

Enforcement

SFC Fines China Everbright Over Expired Standing Authority

By Editors | 29/09/2020

The standing authority used to pledge client securities to obtain credit lines from banks was not renewed due to a miscommunication between compliance teams.

Enforcement

SFC, IA Sign New MoU on Supervisory Cooperation

By Editors | 28/09/2020

The MoU covers case referrals, joint inspections and investigations, and sharing of information pertaining to products and relevant entities or key persons.