Enforcement

    Securities / Derivatives

    Complex Group Arrangements Compound Margin Financing Risks: SFC

    By Manesh Samtani | 19/06/2019

    Deputy chief Julia Leung says the SFC is concerned that brokers are using complex trading arrangements to circumvent regulatory oversight, among other supervisory priorities.

    Enforcement

    ANZ in Compliance With Fees-For-No-Service Enforceable Undertaking

    By Editors | 17/06/2019

    ASIC is satisfied with ANZ’s compliance with a March 2018 court enforceable undertaking related to the bank’s fees for no service issue.

    Enforcement

    APRA Uses New Directions Powers Against AMP Super

    By Editors | 17/06/2019

    AMP superannuation units have been ordered to make significant changes to their business practices, and to renew and strengthen their board.

    Enforcement

    SFC, CSRC to Facilitate Cross-Border Investigations

    By Editors | 17/06/2019

    The SFC and CSRC have agreed on a new cooperative framework to facilitate and coordinate cross-border investigations in “high impact or urgent cases”.

    Securities / Derivatives

    ICBC US Brokerage Unit Penalised for Unlawful ADR Practices

    By Editors | 17/06/2019

    ICBC Financial Services LLC will pay over $42m to the US SEC for improper handling of ‘pre-released’ ADRs, and $3m to the DOJ for conspiring to rig bids related to the release of ADRs.

    Enforcement

    Commonwealth Financial Planning Completes Enforceable Undertaking

    By Editors | 13/06/2019

    ASIC is satisfied that Commonwealth Financial Planning has completed the necessary steps to address a service model that charged fees for no service.

    Enforcement

    UPDATED – Merrill Lynch in KRX Crosshairs for High-Frequency Trading

    By Editors | 12/06/2019

    KRX probe to determine if Citadel’s HFT algorithm breached fair trade rules; Merrill Lynch reprimand to be decided following alleged market disruption.

    Enforcement

    China Corruption Watchdog Appoints New Boss for ICBC Shanghai

    By Editors | 12/06/2019

    The appointment took employees by surprise on Friday as it was announced by an anti-corruption body official installed at ICBC rather than by the bank’s own chief.

    Enforcement

    SEBI Proposes Informant Mechanism to Combat Insider Trading

    By Editors | 11/06/2019

    SEBI wants to institute a process that incentivises timely reporting of instances of insider trading and provides for the granting of rewards to whistleblowers.

    Enforcement

    S. Korea: Nine Securities Firms, KSD Face Disciplinary Action

    By Editors | 11/06/2019

    The Korea Securities Depository and nine brokerages are facing penalties for inadequate internal controls over their offshore equities trading

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