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News on regulatory investigations, enforcement actions, and technologies addressing practices like insider trading, market manipulation, and spoofing.
Market Abuse
Scandal-Hit Chinese Drug Maker Faces CSRC Fine
By Garima Chitkara | 17/10/2018
The CSRC’s 600,000 yuan fine on Changsheng Biotechnology for falsifying data for a rabies vaccine form a small part of the 9.1 billion yuan it will have to pay.
Market Abuse
S. Korea to Toughen Penalties for Naked Short Selling
By Editors | 15/10/2018
New legislative revisions could subject illegal short sellers to up to 10 years imprisonment and fines amounting to 1.5 times profits on short selling.
Market Abuse
SFC Ramps Up Enforcement Against Capital Market Abuse
By Manesh Samtani | 12/10/2018
Life is about to get very uncomfortable for those who abuse Hong Kong’s capital markets, said the SFC’s Thomas Atkinson at the 2018 Refinitiv Pan Asian Regulatory Summit.
Market Abuse
SFC to ‘Vigorously Pursue’ Individuals Culpable for Misconduct
By Manesh Samtani | 10/10/2018
The SFC will do “whatever it takes” to tackle capital markets misconduct, said deputy chief executive Julia Leung at the 2018 Refinitiv Pan Asian Regulatory Summit.
Market Abuse
RBI Consults On Market Abuse Prevention Rules
By Garima Chitkara | 01/10/2018
The draft guidelines will ban price manipulation in any financial instrument or benchmark rate and require market participants to put in place internal policies to monitor for market abuse.
Anti-Bribery & Corruption
Former CSRC Vice Chairman Jailed for 18 Years
By Editors | 01/10/2018
Yao Gang was sentenced for taking 70 million yuan in bribes from 2006 to 2015 and for pocketing 2.1 million yuan in insider trading gains.
Market Abuse
CFTC Imposes Fine on Mizuho Bank in Spoofing Case
By Editors | 25/09/2018
A trader placed multiple large orders on CME and CBOT futures contracts from Mizuho’s Singapore office with no intention of executing them.
Market Abuse
OSE, TSE Discipline MUFG Brokerage Unit for JGB Futures Manipulation
By Editors | 21/09/2018
Latest disciplinary action follows a FSA fine earlier this year, after a dealer manipulated the JGB futures market using the firm’s proprietary trading account.
Market Abuse
SFC Fines Huatai Financial for Naked Short Selling
By Editors | 19/09/2018
Huatai Financial’s unintentional short sale of Great Wall Motor bonus shares in 2015 was as a result of inadequate systems and internal controls.
Market Abuse
ASIC Pursues Civil Penalty for ANZ Disclosure Breach
By Manesh Samtani | 17/09/2018
ANZ failed to disclose in its 2015 capital raising that underwriters Citi and Deutsche took up one-third of its share placement.
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