Enforcement

A Seoul court has granted an injunction against FSS sanctions that would have prevented chairman Sohn Tae-seung from seeking another term at Woori Financial Group.

An investor used share financing facilities from two banks and third-party trading accounts procured by three brokers to manipulate the price of Sky One Holdings shares.

An investigation that started in 2017 found irregularities with the funding Asia Yangon Bank planned to use to meet its paid-up capital requirements.

A former joint-head of HKEX's IPO Vetting Team has been charged over HK$9.15mn in bribes and misconduct in public office between June 2017 and April 2019.

The former broker was convicted and jailed in December 2018 for stealing over HK$110mn in shares from China Pacific’s clients over a seven-year period.

TMF Trustees Singapore was penalised SG$400,000 for failing to verify the source of wealth and monitor transactions on an ongoing basis.

The first five individuals abused their clients' trust for their personal gain and the last evaded taxes. All six also received prison sentences.

Under the legislation, six sales regulations will be applied to all financial products, where sellers will be subject to stricter penalties and possible sales bans for violations.

Societe Generale Securities Australia self-reported three matters over 2017 and 2018, and has completed all remediation actions in relation to its operational set-up.

The AMP entities failed to report information about over 1,000 derivatives transactions and to correctly report collateral information about over 19,000 transactions over several years.