Enforcement

Datacube will allow Australian consumers to see how financial institutions are responding to complaints brought to the one year-old consumer complaints body.

HKTV’s former senior regulatory affairs manager made over HK$160,000 in profit from trading on insider information in December 2013.

Reports indicate the investigation might be related to third-party payment licences issued by the central bank between 2011 and 2015.

The former relationship manager used incomplete application forms pre-signed by the client to effect unit trust transactions without specific authorisation.

The plaintiffs allege that KPMG “negligently failed to identify that they were the victims of a serious and pervasive false accounting by former members of executive management.”

ASIC says that RI Advice Group, acquired by IOOF from ANZ last year, failed to take reasonable steps to ensure that one of its advisers, John Doyle, provided appropriate advice and acted in clients’ best interests.

The government has approved a three-fold increase in the FMA’s litigation fund to NZ$6mn for the 2019/2020 year, a day before the annual report was released.

China Rise's former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.

The proposed settlement would resolve civil forfeiture cases tied to Low, but does not release him from other criminal charges. Low gets to keep $15mn to pay his lawyers.

The sentence follows a conviction in August of 38 charges relating to a multi-million dollar fraud, set up to fund a lavish lifestyle and targeting vulnerable individuals.