Enforcement

Enforcement

CSRC Issues Administrative Penalty Against Chinalin Securities

By Editors | 08/01/2020

Chinalin Securities is prohibited from expanding the scale of its business for three months for violating regulations on internal controls, compliance inspections and governance failures.

Enforcement

Korea: Lime Asset Faces Legal Action for Concealing Hedge Fund Losses

By Editors | 06/01/2020

Lime Asset Management suspended redemptions in three funds in October. One of them had 240bn won invested with New York-based IIG, which has since been charged with securities fraud.

Enforcement

Shanghai Bourse Launches New Market Surveillance System

By Editors | 06/01/2020

The new monitoring system will enhance the effectiveness of front-line supervision, ensure fair transactions, and promote the stable and healthy development of the capital market, the SSE says.

Enforcement

SFC Fines RHB Securities for Internal Control Failures

By Editors | 02/01/2020

RHB Securities failed to effectively implement its policy for avoiding conflicts of interest between its research reports and investment banking relationships, among other compliance issues.

Enforcement

CLSA, CITIC Securities Censured for Breaching Share Buyback Rules

By Editors | 02/01/2020

CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.

Enforcement

Indian Police Lay Charges Against Five in PMC Bank Fraud Case

By Editors | 01/01/2020

The 32,000-page charge sheet lays out charges against three executives from PMC Bank and two promoters of HDIL, which received about 67bn rupees in ‘hidden’ loans.

Securities / Derivatives

SGX RegCo to Overhaul Enforcement Approach – Reports

By Editors | 31/12/2019

SGX RegCo chief Tan Boon Gin wants stronger protections against misconduct, faster enforcement outcomes and greater clarity to be provided to the market.

Enforcement

SFC Fines Fidelity Unit for Unlicensed Futures Dealing

By Editors | 31/12/2019

FIL Investment Management executed over 6,700 futures trades for overseas affiliates without a Type 2 licence, and delayed reporting the breach to the SFC.

Enforcement

SEBI Fines Credit Rating Agencies Over IL&FS Failures

By Editors | 30/12/2019

Three rating agencies were fined for failing to recognise and quickly respond to deteriorating financial conditions at IL&FS, whose defaults last September triggered a liquidity crisis.