ENFORCEMENT

Enforcement

ASIC Report Reveals ‘Unacceptable Delays’ by FIs in Handling Breaches

By Manesh Samtani | 26/09/2018

Institutions take over 4 years to identify breaches, over 2 months to start an investigation into identified breaches, and 2.5 months to lodge breach reports with ASIC.

Enforcement

CFTC Imposes Fine on Mizuho Bank in Spoofing Case

By Editors | 25/09/2018

A trader placed multiple large orders on CME and CBOT futures contracts from Mizuho’s Singapore office with no intention of executing them.

Enforcement

Former Indonesian Bank Bailout Chief Jailed in Corruption Case

By Editors | 25/09/2018

The former head of an agency credited with leading Indonesia out of the 1998 financial crisis reportedly caused state losses of over $300mn.

Enforcement

MAS Publishes Monograph Detailing Enforcement Approach

By Manesh Samtani | 25/09/2018

Monograph outlines how MAS manages enforcement work in three areas: detection, investigations and in taking enforcement action.

Enforcement

China Details Penalties for Bond Underwriting Kickbacks

By Garima Chitkara | 21/09/2018

The CSRC will ban or impose penalties on firms engaging that help companies with low creditworthiness issue debt in exchange for under-the-table payments.

Enforcement

OSE, TSE Discipline MUFG Brokerage Unit for JGB Futures Manipulation

By Editors | 21/09/2018

Latest disciplinary action follows a FSA fine earlier this year, after a dealer manipulated the JGB futures market using the firm’s proprietary trading account.

Enforcement

SFC Fines Huatai Financial for Naked Short Selling

By Editors | 19/09/2018

Huatai Financial’s unintentional short sale of Great Wall Motor bonus shares in 2015 was as a result of inadequate systems and internal controls.

Enforcement

ASIC Pursues Civil Penalty for ANZ Disclosure Breach

By Manesh Samtani | 17/09/2018

ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.

Enforcement

Two ICBC Branches Under Investigation for Illegal Fundraising

By Manesh Samtani | 13/09/2018

The branches sold unregistered investment products to other banks to channel funds into companies beyond what regulatory lending caps allowed.