Enforcement

Enforcement

SFC Bans Former China Rise CEO for Naked Short Selling

By Editors | 01/04/2020

The ex-CEO was banned for 28 months for placing – and concealing – uncovered short selling orders through his personal account and a client’s discretionary account in 2014.

Enforcement

Woori Financial Chief Gets Reappointment Despite FSS Sanctions

By Editors | 27/03/2020

A Seoul court has granted an injunction against FSS sanctions that would have prevented chairman Sohn Tae-seung from seeking another term at Woori Financial Group.

Enforcement

Singapore: Four Individuals Charged for Illegal Trading

By Editors | 26/03/2020

An investor used share financing facilities from two banks and third-party trading accounts procured by three brokers to manipulate the price of Sky One Holdings shares.

AML / KYC

Myanmar Central Bank Revokes Licence of Local Bank

By Editors | 26/03/2020

An investigation that started in 2017 found irregularities with the funding Asia Yangon Bank planned to use to meet its paid-up capital requirements.

Enforcement

ICAC Charges Ex-HKEX Official for Bribery, Misconduct

By Editors | 25/03/2020

A former joint-head of HKEX’s IPO Vetting Team has been charged over HK$9.15mn in bribes and misconduct in public office between June 2017 and April 2019.

Enforcement

SFC Imposes Lifetime Ban on Former China Pacific Securities Broker

By Editors | 24/03/2020

The former broker was convicted and jailed in December 2018 for stealing over HK$110mn in shares from China Pacific’s clients over a seven-year period.

AML / KYC

MAS Penalises Trust Company for AML/CFT Failings

By Editors | 20/03/2020

TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.

Enforcement

MAS Bans Six Individuals for Fraud and Dishonest Conduct

By Editors | 19/03/2020

The first five individuals abused their clients’ trust for their personal gain and the last evaded taxes. All six also received prison sentences.

Enforcement

S. Korea Cabinet Approves Financial Consumer Protection Bill

By Editors | 19/03/2020

Under the legislation, six sales regulations will be applied to all financial products, where sellers will be subject to stricter penalties and possible sales bans for violations.