Enforcement

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.

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.