Enforcement

The Royal Commission has reinforced that the financial industry has abandoned its core role of being custodians of other peoples’ money, said ASIC chair James Shipton.

The CSRC's 600,000 yuan fine on Changsheng Biotechnology for falsifying data for a rabies vaccine form a small part of the 9.1 billion yuan it will have to pay.

New legislative revisions could subject illegal short sellers to up to 10 years imprisonment and fines amounting to 1.5 times profits on short selling.

Life is about to get very uncomfortable for those who abuse Hong Kong's capital markets, said the SFC's Thomas Atkinson at the 2018 Refinitiv Pan Asian Regulatory Summit.

At the Refinitiv Pan Asian Regulatory Summit, HKMA's Carmen Chu discussed how technology and cooperation with authorities contributes to a safe and clean financial centre.

The SFC will do “whatever it takes” to tackle capital markets misconduct, said deputy chief executive Julia Leung at the 2018 Refinitiv Pan Asian Regulatory Summit.

The branch manager knowingly provided false or misleading information and documentation in loan applications and falsely attributed them to a relative for introducer commissions.

Bandhan Bank is barred from opening new branches without special permission until it can reduce its key shareholder's stake to under 20 percent as required by RBI licensing guidelines.

The draft guidelines will ban price manipulation in any financial instrument or benchmark rate and require market participants to put in place internal policies to monitor for market abuse.

The report says financial institutions have had free reign to pursue their own interests at the expense of customers and regulators have been ineffective in policing their behaviour.