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Fraud, Scams & Cybercrime
SG Police Lay More Charges in Nickel Trading Fraud Case
By Editors | 26/04/2021
Ng Yu Zhi allegedly cheated five individuals into paying around S$8.8mn for nonexistent forward contracts purported to be for the sale of nickel to a metals trader.
Market Abuse
Taiwan FSC Fines Fund Managers for Stock Manipulation
By Ranamita Chakraborty | 25/04/2021
The three fund managers bought shares in Far Eastern Department Store at the request of a former official who has since been charged with corruption.
Cryptocurrency
US House Passes Bill to Foster Innovation in Digital Assets
By Editors | 25/04/2021
The bill will require the SEC and CFTC to establish a digital asset working group to ensure collaboration between regulators and the private sector on digital assets.
PEPs & Sanctions
Final Phase of Meng Extradition Case to Be Delayed
By Sanday Chongo Kabange | 25/04/2021
The final phase of the extradition case is being delayed to allow Meng’s lawyers to examine documents being provided by HSBC as a result of a Hong Kong court ruling.
Supervision & Enforcement
S. Korea to Improve Debtor Access to Legal Representation
By Editors | 24/04/2021
The FSC will increase support and accessibility to free legal representation for debtors, as well as strengthen coordination with investigative authorities.
Conduct, Culture & Accountability
ASIC Seeks Feedback on New Breach Reporting Guidance
By Manesh Samtani | 23/04/2021
The draft regulatory guide provides clarification on what constitutes a reportable situation under the upcoming breach reporting reforms.
Market Abuse
SFC, HK Police Make Arrest Four More in Ramp-and-dump Probe
By Editors | 23/04/2021
Three of the four are senior executives of a listed company. They are said to have embezzled over HKD 19 million of the listed company’s funds.
Anti-Money Laundering
BSP Renews Push for Changes to Bank Secrecy Law
By Editors | 23/04/2021
BSP Governor Benjamin Diokno expects a pending bill to be acted upon by Congress as early as May.
Fraud, Scams & Cybercrime
SFC Imposes Lifetime Ban on Co-CEOs of IDS Forex Ltd
By Editors | 23/04/2021
The co-CEOs knew of their chairman’s arrest and conviction in Korea for fraud but did not report the events to the SFC.
Market Abuse
BaFin Files Criminal Complaint Against Deutsche Bank Exec
By Manesh Samtani | 23/04/2021
Alexander Schütz is suspected of using inside information to trade Wirecard shares. A separate probe into EY’s audits of Wirecard is continuing.
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