Enforcement

Enforcement

HKEX Official Arrested in ICAC-SFC Joint Operation

By Editors | 27/06/2019

The ICAC has arrested the former joint head of IPO vetting for HKEX, and two others, for “suspected corruption and misconduct” in relation to the vetting of listing applications.

AML / KYC

US Court Finds Chinese Banks in Contempt in Sanctions Probe

By Editors | 26/06/2019

A US district court has reportedly found three Chinese state-owned banks in contempt for failing to comply with requests for evidence related to a North Korea sanction probe.

Securities / Derivatives

SFC Orders Freezing of More Assets Linked to Manipulation Case

By Editors | 26/06/2019

The SFC has ordered more brokers to stop dealing with and processing assets linked to suspected market manipulation of Ding Yi Feng shares.

AML / KYC

Goldman’s Compensation Offer for 1MDB Losses ‘Not Adequate’

By Editors | 25/06/2019

Prime Minister Mahathir Mohamad says Goldman’s $240mn offer to compensate Malaysia for the bank’s role in the 1MDB scandal is not adequate.

Enforcement

RBI Launches Online Platform for Financial Complaints

By Editors | 25/06/2019

The new Complaint Management System allows customers of regulated financial entities in India to lodge complaints against those entities online.

Enforcement

Hong Kong SFC Releases 2018-19 Annual Report

By Editors | 24/06/2019

The SFC is working to introduce an investor identification regime for southbound Stock Connect trading in mid-2019, and considering adopting a market-wide circuit breaker mechanism.

Enforcement

Shanghai Court Jails Former UBS Banker for Insider Trading

By Editors | 24/06/2019

The banker disclosed deal information to two associates in 2017, allowing them to profit from inside information related to Cosco Shipping’s acquisition of Orient Overseas.

Enforcement

US SEC Charges Five Asian Traders for Market Manipulation

By Editors | 21/06/2019

The SEC has charged three Malaysians, one Singaporean and one Chinese national with violating antifraud and market manipulation provisions.

Enforcement

SFC Fines Credit Suisse $2.8m over Research Reports

By Editors | 20/06/2019

Credit Suisse has been fined $2.8m for failing to disclose investment banking relationships and market making activities in research reports on Hong Kong-listed securities.