Market Abuse

Market Abuse

Korea FSS Fines Four Foreign Fund Managers for Naked Short Selling

By Editors | 22/09/2020

One firm was fined KRW 360mn for failing to borrow KRW 13mn worth of stock prior to short-selling, a penalty of more than 27 times the amount short-sold.

Market Abuse

Korea to Introduce Civil Penalties for Unfair Trading

By Editors | 20/09/2020

Currently, unfair trading activities are punishable under criminal law, but prosecutions often take a long time due to the high burden of proof required.

Fraud, Scams & Cybercrime

Wirecard: The Biggest FinTech Success and Failure Story of All Time

By Oonagh van den Berg | 17/09/2020

Wirecard will be a compliance and audit training reference point for years to come, says compliance expert Oonagh van den Berg, recounting the warning signs in the years-long lead up to its collapse.

Market Abuse

Singapore Convicts Three Individuals for Unauthorised Trading

By Editors | 16/09/2020

The former trading representatives acted on the instructions of a fourth individual to use accounts belonging to family, friends and clients to buy and sell Skyone shares.

Market Abuse

Korea to Strengthen Penalties for Naked Short Selling

By Manesh Samtani | 15/09/2020

Under a new bill, unauthorised short selling can be punished criminally, in addition to a penalty up to 300% of profits obtained or losses avoided through the short selling.

Market Abuse

SFC Issues Statement on Alleged Manipulation of Next Digital Shares

By Manesh Samtani | 14/09/2020

The SFC does not explicitly say whether it is investigating Next Digital trading activity or whether a request for assistance was received from police ahead of last week’s arrests.

Market Abuse

Shenzhen’s ChiNext Board Under Scanner for Corruption Risk

By Editors | 13/09/2020

China’s anti-graft watchdog is looking into whether wild swings may have been caused by insider trading or manipulation involving exchange officials.

Market Abuse

HK Police Arrest 15 on Stock Manipulation Suspicions

By Sanday Chongo Kabange | 10/09/2020

Police believe the 15 individuals manipulated the stock price of Next Digital after its owner Jimmy Lai was arrested last month.

Market Abuse

Bursa Malaysia Suspends Prop Trader For Order Book Manipulation

By Sanday Chongo Kabange | 10/09/2020

The trader placed buy orders at multiple price levels to induce other participants into the market and facilitate his own disposal of the shares at higher prices.