Enforcement

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.

Enforcement

Malaysia Regulators Investigate Investment Scam Syndicate

By Editors | 01/04/2021

The SC has seized records and devices used by the syndicate as well as taken down servers and blocked websites used perpetrate the scams.

Enforcement

SFC Fines Black Marble Securities for Internal Control Failings

By Editors | 01/04/2021

The disciplinary action followed a client complaint about unauthorised trading activities in his account from August 2016 to July 2017.

Enforcement

SG Police Investigate Over 300 Individuals in Cases of Scams

By Editors | 31/03/2021

The suspects are being investigated for the offences of cheating, money laundering or providing payment services without a licence.