ENFORCEMENT

Securities / Derivatives

India’s NSE Accused Of Fraud In Algo-Trading Case

By Garima Chitkara | 09/07/2018

India’s securities regulator has issued a notice to NSE for allegedly misuse of its co-location facility by some brokers seeking early access to the exchange’s algo-trading system.

Enforcement

The Risky Business of Hiring Chinese Investment Bankers

By Peter Guy | 09/07/2018

The real cost of doing business in China was suddenly revealed with Credit Suisse’s settlements totalling $77 million with the SEC and DOJ over its alleged violations of the Foreign Corrupt Practices Act by employing Chinese princelings and princesses.

Enforcement

MAS Reprimands Asset Manager for Late Regulatory Submissions

By Manesh Samtani | 08/07/2018

Annual declarations, auditor reports and director change notifications were submitted up to three years late by Taiyo Asset Management; director found guilty of misconduct for failure to implement compliance controls.

Enforcement

UPDATED – Former CSRC Vice Chairman Pleads Guilty to Bribery, Insider Trading

By Emma Zhou | 06/07/2018

Yao Gang charged with taking advantage of his position, accepting money and gifts, and insider trading; two other CSRC officials also charged

Enforcement

Two Former NAB Employees Receive Lifetime Ban for Loan Fraud

By Emma Zhou | 06/07/2018

ASIC investigation revealed the two provided false payslips and letters of employment, among other documents, in support of loan applications.

Enforcement

New Zealand Court Jails Ponzi Scheme Operator for 7.5 Years

By Manesh Samtani | 05/07/2018

Over 900 investors were persuaded to invest over NZ$8mn with registered foreign exchange provider BlackfortFX, though the firm did not conduct any investment activity.

AML / KYC

CBA Faces Investor Class Action

By Garima Chitkara | 04/07/2018

The Commonwealth Bank of Australia is being sued by a class of investors backed by large institutional investors in Australia, Europe and North America for disclosure failures that artificially inflated the bank’s share price.

Enforcement

Former Vietnamese Central Banker Sentenced To Three Year Jail Term

By Garima Chitkara | 04/07/2018

Former SBV deputy governor received a three year jail sentence for his role in a mismanagement and loan underwriting scandal that led to losses of $655 million at Vietnam Construction Bank

Enforcement

India Cracks Down on Bank Auditors

By Garima Chitkara | 02/07/2018

RBI has introduced a framework to define lapses in bank auditor conduct and reporting as well as enforcement action to be taken as a result of such lapses.