Market Abuse

Market Abuse

SGX RegCo to Scrap Minimum Trading Price Rule from 1 June

By Editors | 11/05/2020

The MTP rule is described as a “blunt tool” for addressing risk of market manipulation, compared to more effective tools that target such manipulation directly.

Market Abuse

US SEC Penalises Bloomberg Tradebook Over Order Routing

By Editors | 07/05/2020

Bloomberg Tradebook let unaffiliated brokers make decisions about the routing of certain customer trade orders in a way that lowered its own costs, without informing affected customers.

Supervision & Enforcement

ASIC Quadrupled Criminal Charges Laid in H2 2019

By Editors | 30/04/2020

In the six months to December 2019, ASIC did not have any new enforceable undertakings, reflecting its post-Royal Commission ‘why not litigate’ approach to enforcement.

Market Abuse

FSC Taiwan Fines Investment Trust for Intranet Loopholes

By Editors | 24/04/2020

A Capital Investment Trust fund manager reportedly bought shares in dozens of companies that he knew would be purchased in the funds he helped manage.

Market Abuse

FMA Preempts Insider Misconduct With Plea for Vigilance

By Editors | 23/04/2020

New Zealand’s FMA recognises that the current situation may give rise to a broader range of individuals having access to inside information.

Market Abuse

Hong Kong Exchange Censures Ding Yi Feng Executives

By Editors | 23/04/2020

Three former non-executive directors of China Ding Yi Feng were censured for breaching the listing rules and disclosure obligations.

Market Abuse

Singapore Police Open Probe into Renowned Oil Trader

By Editors | 21/04/2020

Hin Leong Trading’s founder admitted to concealing $800mn in losses from oil futures. The firm now unpaid debts of $3.85bn. Up to 23 banks are affected.

Trading & Investment

Malaysia SC Announces Capital Market Measures to Support Businesses

By Editors | 17/04/2020

The measures include relief for publicly listed companies from PN17 (financial distress) classification, even if they fall below certain regulatory thresholds.

Market Abuse

US Court Reverses 2017 Dismissal of Rate Rigging Suit Against Banks

By Editors | 07/04/2020

The decision effectively revives a suit by a group of investment funds against major banks over their alleged manipulation of yen LIBOR and euroyen TIBOR between 2006 and 2011.