Market Abuse

Market Abuse

SFC Fines China Rise for Short Selling, Cross Trading Breaches

By Editors | 31/10/2019

China Rise’s former CEO placed 199 illegal short selling orders in 2014, and an unnamed senior manager executed cross trades at a price detrimental to the client.

Market Abuse

SEBI, US SEC Probe IT Major Infosys for “Unethical Practices”

By Editors | 28/10/2019

SEBI and the US SEC are probing Infosys after whistleblowers alleged costs were under-reported to inflate profits and “critical information” was hidden from auditors and the board.

Market Abuse

FSC Korea to Raise Penalties for Illegal Short Selling

By Editors | 22/10/2019

On top of the higher penalties for illegal short selling, the FSC will penalise violators extra if they are found to have also engaged in unfair dealing.

Market Abuse

US SEC Charges Chinese Traders in Market Manipulation Scheme

By Editors | 21/10/2019

The market manipulation scheme involved 18 traders primarily based in China, over 3,900 US-listed securities and over $31mn in illicit profits.

Market Abuse

Former Supervisor at ICBC Unit Settles with US SEC

By Editors | 18/10/2019

The former supervisor of ICBC’s US broker-dealer unit has agreed to settle charges for failures involving the improper handling of transactions of ADRs.

Trading & Investment

Redemptions Halted at Korean Hedge Fund Amid Probe

By Editors | 11/10/2019

An FSS probe into alleged unfair trading has triggered investor redemptions which Lime Asset Management has not been able to meet.

Market Abuse

Two Singaporeans Jailed for Spoofing Derivatives Market

By Editors | 08/10/2019

Two former directors of proprietary trading company Joerik Financial were jailed for fraud and dishonest conduct in relation to the trading of futures contracts.

Market Abuse

US, UK Agencies Work to Clean Up Credit Derivatives Market

By Editors | 24/09/2019

In a joint statement, the SEC, CFTC and FCA have pledged to work together to address “opportunistic strategies” that harm the credit derivatives market.

Market Abuse

US SEC Settles Charges Against Nissan, Former CEO

By Editors | 24/09/2019

As settlement for underreporting CEO compensation, Nissan agreed to pay $15mn, while ex-CEO Carlos Ghosn will pay $1mn and get a 10-year officer and director bar.