Market Abuse

    News on regulatory investigations, enforcement actions, and technologies addressing practices like insider trading, market manipulation, and spoofing.

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    Market Abuse

    SFC, ICAC Acts Against Suspected Market Manipulation Syndicate

    By Sanday Chongo Kabange | 30/08/2023

    One person was arrested on bribery charges. Brokerage accounts linked to the manipulation scheme were frozen.

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    Market Abuse

    Fed Terminates 2017 Cease-and-desist Order Against HSBC

    By Mark Johnston | 27/08/2023

    HSBC no longer has to provide progress reports on its efforts to improve internal controls or manage risks in connection with its FX trading activities.

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    Trading & Investment

    US Banks Agree to Settle Stock Lending Lawsuit for $500m

    By Editors | 25/08/2023

    Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS denied wrongdoing but agreed to settle the lawsuit to avoid further litigation.

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    Market Abuse

    US Court Jails Former OpenSea Exec for NFT Insider Trading

    By Mark Johnston | 24/08/2023

    Nate Chastain will spend three months in prison, followed by three months of home confinement, and three years of supervised release.

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    Market Abuse

    BSEC Forms Committee to Investigate Stock Market Rumours

    By Mark Johnston | 24/08/2023

    Recent rumours have involved the removal of the floor price, the resignation of BSEC’s chairman, and institutional investor sell-offs.

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    Market Abuse

    Two Former JPMorgan Traders Jailed on Spoofing Charges

    By Editors | 23/08/2023

    Gregg Smith was sentenced to two years in prison, while Michael Nowak was sentenced to one year and one day in prison.

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    Market Abuse

    SFC Issues Fine for Trade Surveillance, Record-keeping Failures

    By Editors | 22/08/2023

    Alert review records were missing for over 14,000 alerts. Client call records were missing for more than 1,000 orders.

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    Market Abuse

    SGX RegCo Issues Alert Against Dasin Retail Trust

    By Sanday Chongo Kabange | 22/08/2023

    An individual apparently bought units to push up the price of Dasin Retail Trust, a China retail property trust providing exposure to the GBA.

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    Trading & Investment

    FSC Korea Outlines Policy Initiatives Planned for H2

    By Editors | 20/08/2023

    The initiatives focus on restoring investor trust, strengthening capital market structure, and ensuring financial stability.

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    Market Abuse

    Korea to Crack Down on Financial Crime Involving Capital Markets

    By Editors | 16/08/2023

    The FSS and National Office of Investigation have signed an MoU to strengthen cooperation on illegal activities in the capital market.

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