Market Abuse

Market Abuse

Korea Prosecutors Arrest Three on Stock Manipulation Charges

By Sanday Chongo Kabange | 14/07/2023

The trio allegedly generated $27.9mn in illicit profits by manipulating the stock prices of five companies, prosecutors said.

Market Abuse

Singapore Jails Four on False Trading, Deception Convictions

By Editors | 14/07/2023

The four were convicted for their involvement in a scheme to manipulate the price of Catalist-listed Koyo International between 2014 and 2016.

Market Abuse

UK FCA Fines Bastion Capital Over Cum-Ex Trades

By Mark Johnston | 13/07/2023

The UK FCA imposed a GBP 2.45 million fine on a former broker that executed over GBP 70 billion worth of fraudulent trades.

Market Abuse

SEBI Probes Software Misuse by NSE Trading Members

By Editors | 09/07/2023

Some high-frequency traders reportedly used special software that enabled them to submit orders to NSE without paying transaction fees.

Cryptocurrency

FSC Korea to Require Employees to Report Crypto Holdings

By Editors | 07/07/2023

Employees that perform official duties related to the virtual assets sector will have to report their holdings to the FSC.

Market Abuse

Former London Trader Allowed to Appeal LIBOR Rigging Conviction

By Editors | 07/07/2023

Tom Hayes was the first person to be convicted of rigging LIBOR. He was released from jail in 2021 after serving half of an 11-year sentence.

Market Abuse

ASIC Fines Openmarkets Record $4.5m for Compliance Failures

By Sanday Chongo Kabange | 06/07/2023

ASIC says Openmarkets did not carry out effective trade surveillance, and banned its former acting head of trading for three years.

Cryptocurrency

Korea Launches New Alerting System for Abnormal Crypto Activity

By Editors | 04/07/2023

DAXA said the alert messages will be triggered by sudden price changes and spikes in trading or deposit volumes, among other indicators.

Market Abuse

Korea Passes Bill to Strengthen Penalties for Unfair Trading

By Editors | 03/07/2023

The FSC will be able to impose a penalty surcharge of up to twice the amount of illegally earned profits. The enhanced penalties will take effect in January 2024.