Securities / Derivatives

Enforcement

SFC Wins Final Appeal in 2007 Insider Dealing Case

By Manesh Samtani | 07/04/2021

The Market Misconduct Tribunal and Court of Appeal both ruled against the SFC before the case was brought to the Court of Final Appeal.

ESG / Sustainability

Japan FSA Issues Proposal to Revise Corporate Governance Code

By Manesh Samtani | 07/04/2021

The changes will improve board independence, promote board diversity, and enhance climate-related and ESG disclosures by top-tier listed companies.

Securities / Derivatives

BlackRock Paves Way for Mutual Fund Business in China

By Editors | 07/04/2021

BlackRock has withdrawn its private fund manager registration to pave the way for the launch of its new wholly-owned mutual fund unit in China.

Enforcement

SFC Adds ‘Ramp-and-Dump’ Syndicate Member to Wanted List

By Editors | 07/04/2021

An arrest warrant was issued for Zeng Lingxi, an alleged member of a syndicate suspected of operating ramp-and-dump scams on social media.

Securities / Derivatives

Korea Set to Introduce Tougher Penalties for Illegal Short Selling

By Editors | 06/04/2021

Illegal short sellers can face fines of up to 100% of the amount of the short selling order, imprisonment for a year or more, and additional penalties up to five times unfair profits.

Securities / Derivatives

FCA to Consult on Stronger Protections for SPAC Investors

By Editors | 06/04/2021

The consultation will consider enhanced disclosure requirements, a minimum market cap and a redemption option for investors.

Securities / Derivatives

PBOC Optimises Interbank Bond Market Circulation Mechanism

By Editors | 06/04/2021

Bond registration, depository and clearing institutions will establish direct connections with the interbank bond market to enable electronic transmission of information.

Enforcement

US SEC Opens Preliminary Investigation into Archegos Collapse

By Manesh Samtani | 06/04/2021

Credit Suisse expects a $4.7bn loss from the collapse of Archegos. The bank has suspended share buybacks, cut its dividend, and announced the departure of seven key executives.

Enforcement

ASIC Bans Sale of Binary Options to Retail Clients

By Editors | 05/04/2021

The binary options ban will take effect from 3 May. A separate order imposing conditions on the issue and distribution of CFDs to retail clients has taken effect on 29 March.