Market Abuse

Market Abuse

CFTC Penalises Australian Firm for Spoofing by Former Trader

By Editors | 23/01/2020

The CFTC has ordered Propex Derivatives to pay $1mn, comprising restitution, disgorgement, and a civil monetary penalty. The DOJ has also entered a deferred prosecution agreement with the firm.

Market Abuse

CSRC Lifts Citadel Securities’ 4-Year Trading Suspension

By Editors | 21/01/2020

Citadel Securities has agreed to pay almost $100mn to settle charges that its algorithmic trading disrupted the market during the 2015 market correction.

Market Abuse

MAS Issues First Penalty for Shareholder Disclosure Breach

By Editors | 20/01/2020

An investor was fined S$200,000 for failing to disclose that he had become a substantial shareholder in a Catalist-listed company, and for subsequent disclosure rule breaches.

Market Abuse

SEBI Exonerates Nine in NSE ‘Dark Fibre’ Case – Reports

By Editors | 17/01/2020

SEBI said there was no evidence to suggest the nine former and current NSE officials were involved in facilitating preferential market access for selected brokers.

Market Abuse

CFTC Penalises Mirae Asset Daewoo on Spoofing Charges

By Editors | 15/01/2020

Mirae Asset will pay $700,000 to settle charges against Daewoo Securities, which it acquired in April 2016 — after the spoofing conduct at issue occurred.

Market Abuse

FSS Korea Probes Fraud Involving Small-cap Stocks

By Editors | 14/01/2020

A group of investors is suspected of taking control of small firms, only to then release news designed to inflate share prices or raise more capital to enrich themselves.

Market Abuse

CLSA, CITIC Securities Censured for Breaching Share Buyback Rules

By Editors | 02/01/2020

CLSA and CITIC Securities carried out pre-arranged trades on the SEHK to allow Beijing Enterprises Holdings to buyback its shares without regulatory or shareholder approval.

Market Abuse

SEBI Establishes Insider Trading Whistleblower Protection Office

By Editors | 28/12/2019

The ‘Office of Informant Protection’ is charged with receiving and processing information on insider trading disclosed by whistleblowers, and with protecting their identities.

Market Abuse

CFTC Charges HSBC Exec with Manipulation, Fraud

By Editors | 24/12/2019

The former head of HSBC’s North American interest rates business allegedly manipulated prices for five-year basis swaps used to price a bond issuance and a related swap.