Enforcement

Securities / Derivatives

SFC Orders Brokers to Freeze Client Assets in Market Manipulation Case

By Editors | 22/03/2019

The prohibition orders as part an investigation into suspicious trading which appeared to create a false market in China Ding Yi Feng shares leading to an “irrationally high share price”.

Enforcement

Indian Billionaire Arrested in London over $2bn Bank Fraud

By Editors | 22/03/2019

India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.

AML / KYC

MAS Details Enforcement Outcomes, Priorities in Inaugural Report

By Manesh Samtani | 20/03/2019

The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.

Enforcement

AFCA Consults on Expanded Remit to Cover Legacy Complaints

By Editors | 20/03/2019

The consultation follows the government’s recent expansion of AFCA’s remit allowing it to handle legacy complaints dating back to 1 January 2008.

Enforcement

Singapore Court Rules in First Case Involving Cryptocurrency

By Manesh Samtani | 19/03/2019

The Singapore International Commercial Court has ruled that crypto exchange Quoine was liable for a “breach of contract and breach of trust” by reversing seven trades in April 2017.

Enforcement

Australia Consults on Making Industry Codes Legally Enforceable

By Editors | 19/03/2019

The Treasury is proposing legislative amendments to make industry codes of conduct legally enforceable, where contraventions will constitute a breach of the law.

Enforcement

SFC Fines BOCI Securities for ‘Systemic Deficiencies’ in Selling Practices

By Editors | 19/03/2019

BOCI Securities failed to comply with requirements relating to client profiling, product due diligence, and suitability assessment in its sale and distribution of investment products.

Enforcement

RBI Issues Finalised Guidelines on Market Abuse

By Editors | 18/03/2019

The new rules against market abuse cover market and benchmark manipulation and the misuse of information in markets regulated by the RBI.

AML / KYC

Securities Commission Malaysia Issues Show-cause Notice to Goldman

By Editors | 15/03/2019

Malaysia’s securities regulator has reportedly issued a show-cause notice to Goldman Sachs, assumed to be in connection with the multi-billion dollar 1MDB scandal.