Enforcement

DBS, HSBC, ICBC, Dah Sing Bank and Wing Hang Bank were defrauded of about HK$47.5mn in loans and banking facilities.

The ex-CEO was banned for 28 months for placing - and concealing - uncovered short selling orders through his personal account and a client's discretionary account in 2014.

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.