Enforcement

Enforcement

Singaporean Jailed for 4 Months for ‘False Trading’

By Editors | 24/01/2018

Mok Piak Liang convicted of manipulating share price to push up value of stock pledged to margin account and avoid having to top-up account by other means.

Crypto / Digital Assets

ASIC Seeks Stronger Powers to Combat Cybercrime

By Manesh Samtani | 23/01/2018

Parliamentary submission suggests reforms allowing ASIC to assume identities on the dark web, share phone data with foreign regulators, seize electronic devices.

Enforcement

HKEX Issues Northbound Stock Connect Market Misconduct Guidelines

By Editors | 22/01/2018

Information pack shows only one divergence between what is considered misconduct in mainland China versus Hong Kong.

Enforcement

Thailand Implements New Market Misconduct Penalty Scheme for Banks

By Editors | 20/01/2018

New market conduct rules to be implemented over next few weeks; Violators can be barred from operating or fined up to 1mn baht per day.

Enforcement

HK’s Financial Reporting Council to be Given Extended Powers

By Editors | 20/01/2018

Treasury for Financial Services and the Treasury says FRC to given independent oversight, inspection and disciplinary powers.

AML / KYC

US Fed Fines Taiwanese Bank $29mn for AML Failures

By Editors | 19/01/2018

US Federal Reserve Board cites deficiencies in Mega Bank’s operations, risk management and compliance controls in relation to AML and bank secrecy laws.

AML / KYC

Hong Kong SFC Looks to Optimise Enforcement Action

By Editors | 18/01/2018

New guidance removes threat of criminal prosecution in cases of “non-serious” regulatory breaches and cooperation ‘above and beyond’ regulatory obligations.

Enforcement

UPDATED – PwC Gets 2-Year Ban from Auditing Listed Firms in India

By Garima Chitkara | 15/01/2018

Ban relates to accounting fraud at software exporter Satyam Computer Services, where PwC was auditor.

Enforcement

The Return of ‘Super Alpha’ and Regulatory Arbitrage

By Peter Guy | 15/01/2018

The return of SAC Capital’s founder with a new venture reveals the complicated ethics of a post financial crisis world.