ENFORCEMENT

Enforcement

CFTC Penalises Australian Firm for Spoofing by Former Trader

By Editors | 23/01/2020

The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.

Enforcement

CSRC Lifts Citadel Securities’ 4-Year Trading Suspension

By Editors | 21/01/2020

Citadel Securities has agreed to pay almost $100mn to settle charges that its algorithmic trading disrupted the market during the 2015 market correction.

Enforcement

MAS Issues First Penalty for Shareholder Disclosure Breach

By Editors | 20/01/2020

An investor was fined S$200,000 for failing to disclose that he had become a substantial shareholder in a Catalist-listed company, and for subsequent disclosure rule breaches.

Enforcement

Review Panel Offers Recommendations for Improving SFC Operations

By Editors | 17/01/2020

While welcoming the SFC’s front-loaded regulatory approach, the Process Review Panel says the regulator should be aware of its possible unintended effects and consider ways to minimise them.

Enforcement

SEBI Exonerates Nine in NSE ‘Dark Fibre’ Case – Reports

By Editors | 17/01/2020

SEBI said there was no evidence to suggest the nine former and current NSE officials were involved in facilitating preferential market access for selected brokers.

Enforcement

CFTC Penalises Mirae Asset Daewoo on Spoofing Charges

By Editors | 15/01/2020

Mirae Asset will pay $700,000 to settle charges against Daewoo Securities, which it acquired in April 2016 — after the spoofing conduct at issue occurred.

AML / KYC

Singapore Convicts a Second National for Terrorism Financing

By Editors | 15/01/2020

Imran Kassim became the first Singapore national to be charged for terrorism financing last April, but is the second to be convicted and sentenced.

Enforcement

SFC Lifts UBS Underwriting Suspension Two Months Early

By Editors | 14/01/2020

The SFC is satisfied that UBS has adequate and effective systems, controls, policies and procedures to enable compliance with all requirements in relation to its sponsor business.

Enforcement

SEBI Launches Fresh Probe into NSE for Data Leak

By Editors | 14/01/2020

The alleged leaks are said to have involved documents related to NSE policy decisions, internal studies and board meeting minutes.