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Enforcement
HK Bourse Seeks Broader Powers to Punish Misconduct
By Editors | 09/08/2020
Hong Kong’s stock exchange proposes to enhance its disciplinary regime to enhance its ability to hold accountable and sanction senior managers and directors responsible for misconduct.
Enforcement
US Regulators Unveil Plan to Deal With Chinese Listings
By Editors | 08/08/2020
A presidential working group which includes the chairmen of the SEC, CFTC and Fed has recommended changes to US listing rules to require access to companies’ audit papers.
AML / KYC
US Sanctions 11 Chinese, Hong Kong Officials
By Manesh Samtani | 08/08/2020
The HKMA says unilateral sanctions imposed by foreign governments have “no legal status” in Hong Kong and banks should endeavour to treat customers fairly.
AML / KYC
Singapore Authorities Issue First Charges in Wirecard Probe
By Editors | 08/08/2020
A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.
Enforcement
CEO Faces 112 Charges of Market Rigging in Singapore
By Editors | 06/08/2020
CEO and chairman of SGX-listed KS Energy is alleged to have engaged in conduct to push up his company’s stock and create a misleading appearance of its price.
Enforcement
SGX RegCo to Enhance Enforcement, Whistleblowing Frameworks
By Manesh Samtani | 06/08/2020
The proposed enforcement framework will seek to achieve swifter outcomes from the disciplinary process. Whistleblowing policies will become mandatory for listed issuers.
AML / KYC
Malaysia Jails Eight Over Illegal Deposit-taking Scheme
By Editors | 05/08/2020
Eight individuals were sentenced to between three and nine years’ jail. Total fines issued, including against three companies, amount to $310mn.
Enforcement
CBA Increases Remediation Provisions Ahead of Full-Year Results
By Editors | 05/08/2020
Customer remediation provisions have been increased by A$300mn, bringing CBA’s total remediation bill to A$834. The full-year results are due on 12 August.
Enforcement
Ex-GM of Hong Kong Investment Firm Charged with Theft
By Editors | 04/08/2020
The former general manager of Max Dragon Investment is alleged to have stolen HK$22mn from the company bank account between December 2012 and May 2014.
Enforcement
Australia: Former Financial Adviser Jailed for Six Years
By Sanday Chongo Kabange | 04/08/2020
Graeme Walter Miller was sentenced to six years’ imprisonment for misappropriating close to A$2mn for his own purposes.
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