Market Abuse

Fraud, Scams & Cybercrime

BaFin Efficacy Called into Question for Wirecard Handling

By Manesh Samtani | 22/06/2020

Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.

Market Abuse

CFTC Settles Deutsche Bank Spoofing, Swaps Reporting Cases

By Editors | 19/06/2020

Deutsche Bank will pay $9mn for violating swap data reporting requirements during a system outage, and $1.25mn for spoofing carried out by two Tokyo-based traders.

Market Abuse

SFC Publicly Criticises CICC Units for Breaching Takeovers Code

By Editors | 19/06/2020

CICC and CICC Financial Trading – as associates of the CICC securities unit advising on certain offers – dealt in the relevant securities without making timely disclosures.

Supervision & Enforcement

High-level Panel Proposes Overhaul of SEBI Enforcement Mechanism

By Editors | 18/06/2020

The panel says intermediary regulations need to be amended to speed up enforcement action, and that SEBI should be granted the authority to seize assets subject to investigation.

Market Abuse

Former CSRC Official Jailed for 12 Years for Bribery, Insider Trading

By Editors | 16/06/2020

The case against the CSRC’s former Hunan bureau head was said to be linked to a probe into CSRC former vice chairman Yao Gang, who was jailed for 18 years in 2018.

Market Abuse

S. Korean Prosecutors Seek Arrest of Samsung Execs for Illegal Trading

By Editors | 07/06/2020

Samsung’s de facto head, Lee Jae-yong, and two of his senior lieutenants could face charges of illegal trading and stock price manipulation, among other charges.

Market Abuse

Singapore Authorities Commence Joint Investigation Into Hyflux

By Editors | 02/06/2020

Water treatment firm Hyflux entered the limelight in 2018 when it tried to restructure nearly S$3bn in debt. The company is suspected of breaching disclosure and accounting rules.

Market Abuse

SFC Bans Guosen Fund Manager for Violating Staff Trading Policies

By Editors | 29/05/2020

The fund manager concealed his beneficial interests, direct control and trading activities in securities accounts held at an external brokerage.

Structural Regulation

New Listing Rules at Nasdaq to Impede Chinese IPOs – Reports

By Editors | 19/05/2020

Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.