Enforcement

Enforcement

ABA to Amend Code of Practice to Implement Hayne Recommendations

By Editors | 01/03/2019

The Australian Banking Association will implement 7 Royal Commission recommendations through amendments to the Banking Code of Practice.

Enforcement

Hong Kong Court Dismisses Short Seller’s Trading Ban Appeal

By Editors | 28/02/2019

The Court dismissed an appeal from short seller Andrew Left to overturn a 2016 ruling banning him from trading in Hong Kong for five years after he published a report containing false information.

Enforcement

S. Korea to Crack Down on Unfair Trading Practices

By Editors | 28/02/2019

The FSS plans to tighten monitoring of unfair trading practices, namely high-frequency trading, false disclosures and unlawful short-selling. Merrill Lynch, Franklin Templeton under scrutiny.

Enforcement

SFC Suspends China Merchants Securities Exec Over Sponsor Work

By Editors | 28/02/2019

The SFC said Wu Yinong breached the Code of Conduct and the Sponsor Guidelines when he was a sponsor principal in charge of supervising the execution of a 2009 listing application.

Enforcement

Westpac Faces Class Action for Irresponsible Lending

By Editors | 26/02/2019

Westpac has vowed to fight the claim, saying it takes its responsible lending obligations very seriously. But it could face a multi-million-dollar settlement if other borrowers join the class action.

Enforcement

Australia Passes Law Enhancing Whistleblower Protections

By Editors | 22/02/2019

The law expands the whistleblower definition, extends protections for those who report misconduct, and requires companies to have a whistleblower policy.

Enforcement

ASIC Finalises HSBC’s 2016 Enforceable Undertaking

By Editors | 21/02/2019

Under HSBC Australia’s remediation programme, the bank offered about A$690,000 in compensation to 104 clients who may have received inappropriate advice.

Enforcement

CSRC Probes Losses at GF Securities Hedge Fund

By Editors | 21/02/2019

The CSRC is seeking details about large trading losses at a hedge fund managed by GF Securities’ Hong Kong unit. Citigroup faces up to $180mn in losses on a loan to the fund.

Enforcement

Australia Expands Remit of New Financial Complaints Authority

By Editors | 21/02/2019

As the Royal Commission considered misconduct cases dating back to 1 January 2008, AFCA’s remit will be expanded to enable reviews of eligible complaints over the same period.