Market Abuse

Market Abuse

Top Kakao Executive Arrested on Stock Manipulation Charges

By Editors | 24/10/2023

The investigation into Kakao and its top executives began in February. The company’s CIO was arrested due to concerns that he may flee or tamper with evidence.

Fraud, Scams & Cybercrime

ICAC Arrests Three in Joint Operation with SFC, AFRC

By Manesh Samtani | 20/10/2023

The case involves suspicions of corporate fraud, corruption, and a conspiracy between a ramp-and-dump syndicate and two listed companies.

Market Abuse

HK Investment Banks Face Naked Short Selling Fines in Korea

By Manesh Samtani | 16/10/2023

The FSS said it uncovered illegal short selling by two global investment banks. The banks were identified by local media as BNP Paribas and HSBC.

Market Abuse

ASIC Wins ‘Landmark’ Case Over ANZ’s 2015 Share Placement

By Editors | 15/10/2023

The Federal Court said ANZ breached the law by failing to disclose that its underwriters took up nearly a third of its 2015 share placement.

DeFi & Web3

ESMA Publishes Two Papers on DeFi Risks and Categorisation

By Mark Johnston | 13/10/2023

One paper analyses the main features, benefits and challenges of DeFi. The other proposes a methodology to classify smart contracts.

Market Abuse

SFC Proposes New Guidelines for Market Soundings

By Manesh Samtani | 12/10/2023

The proposed guidelines introduce a common set of “Core Principles” for market soundings to prevent misuse of non-public information.

Market Abuse

Korea Mulls Curbs on Stock Market Speculation by Retail Investors

By Editors | 11/10/2023

Governor Lee Bok-hyun said the FSS is looking to crack down on leveraged buying by retail investors and margin call risks.

Supervision & Enforcement

FSS Korea Strengthens Capital Markets Inspection System   

By Sanday Chongo Kabange | 11/10/2023

Market participants that engage in illicit conduct will face immediate deregistration or licence revocation for even a single offence.

Market Abuse

Korean Investors Warned About Illegal Overseas Trading

By Editors | 09/10/2023

The FSC and FSS say there has been a recent increase in the number of foreign investigations involving Korean investors.