Market Abuse

Market Abuse

US SEC Charges Five Asian Traders for Market Manipulation

By Editors | 21/06/2019

The SEC has charged three Malaysians, one Singaporean and one Chinese national with violating antifraud and market manipulation provisions.

Market Abuse

SSE Issues Rules to Curb Abnormal Trading on New Board

By Editors | 19/06/2019

The rules are aimed at preventing large market fluctuations, while maintaining market liquidity, the Shanghai Stock Exchange said.

Market Abuse

ICBC US Brokerage Unit Penalised for Unlawful ADR Practices

By Editors | 17/06/2019

ICBC Financial Services LLC will pay over $42m to the US SEC for improper handling of ‘pre-released’ ADRs, and $3m to the DOJ for conspiring to rig bids related to the release of ADRs.

Market Abuse

UPDATED – Merrill Lynch in KRX Crosshairs for High-Frequency Trading

By Editors | 12/06/2019

KRX probe to determine if Citadel’s HFT algorithm breached fair trade rules; Merrill Lynch reprimand to be decided following alleged market disruption.

Market Abuse

SEBI Proposes Informant Mechanism to Combat Insider Trading

By Editors | 11/06/2019

SEBI wants to institute a process that incentivises timely reporting of instances of insider trading and provides for the granting of rewards to whistleblowers.

Market Abuse

UPDATED – Citigroup Japan Fined, Ordered to Improve Internal Controls

By Editors | 10/06/2019

Having failed to detect after hours spoofing by a London trader, Citigroup Global Markets Japan has been fined, ordered to improve its controls, and suspended from participating in JGB auctions.

Market Abuse

Switzerland Fines Five Global Banks Involved in FX Trading Cartel

By Editors | 10/06/2019

Adding to the European Commission’s $1.2bn fine last month, Citigroup, Barclays, RBS, JP Morgan and MUFG have been fined $91mn by the Swiss Competition Commission.

Market Abuse

MAS Penalises Singapore National in LSE Insider Trading Case

By Editors | 05/06/2019

The penalty was the result of close cooperation and information sharing between MAS and the UK FCA, which had referred the case and provided investigative assistance.

Structural Regulation

FSC Korea Proposes More Flexible Business Conduct Rules

By Editors | 02/06/2019

‘Chinese walls’ at financial firms will be set up around ‘information units’ rather than ‘business units’. Firms can entrust a broader range of business to third parties and IT firms.