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Market Abuse
SEBI Seeks Broader Powers to Pursue Securities Law Violations
By Editors | 25/03/2019
SEBI wants to be able to inspect the books of listed companies when it suspects any securities law violations, and to impose penalties for the manipulation of a company’s accounts.
Supervision & Enforcement
ASIC, APRA, Courts to Get More Funding to Pursue Misconduct
By Manesh Samtani | 25/03/2019
In the 2019-2020 budget, Australia’s government will provide more than A$585mn in new funding to regulators and the court system to help stamp out financial sector misconduct.
Market Abuse
S. Korea FSS’ Integrity Questioned in Local Report
By Editors | 22/03/2019
As discussions progress on granting the FSS greater investigative powers, a local media report raised questions on the regulator’s integrity, citing its 2018 requests that fines against its staff be dismissed.
Market Abuse
Singapore Court Issues First Jail Sentence for 2013 Penny Stock Crash
By Editors | 22/03/2019
Former Ipco International interim CEO Goh Hin Calm was sentenced to three years imprisonment for his role in the 2013 multi-billion-dollar penny stock crash.
Trading & Investment
UK FCA Fines UBS for MiFID Transaction Reporting Failures
By Editors | 22/03/2019
Over 9.5 years, UBS AG made 135.8 million errors in its transaction reporting, over a third of which involved erroneously reported transactions which were not in fact reportable.
Market Abuse
SFC Orders Brokers to Freeze Client Assets in Market Manipulation Case
By Editors | 22/03/2019
The prohibition orders as part an investigation into suspicious trading which appeared to create a false market in China Ding Yi Feng shares leading to an “irrationally high share price”.
Fraud, Scams & Cybercrime
Indian Billionaire Arrested in London over $2bn Bank Fraud
By Editors | 22/03/2019
India’s diamond billionaire, Nirav Modi, has been arrested in London for his alleged role in a $2bn fraud at Punjab National Bank reported last year.
Supervision & Enforcement
MAS Details Enforcement Outcomes, Priorities in Inaugural Report
By Manesh Samtani | 20/03/2019
The inaugural enforcement report reveals that MAS issued S$16.8mn in financial penalties and S$698,000 in civil penalties over 18 months.
KYC & CDD
BOCHK Launches Pilot Service for Mainland Account Opening
By Editors | 20/03/2019
BOCHK has been granted regulatory approval to launch a pilot scheme that enables Hong Kong citizens to open a personal bank account in the mainland, remotely.
Credit Risk
RBI Asks Banks to Boost Monitoring of End Use of Loan Funds
By Editors | 20/03/2019
Following a string of penalties against banks last month, the RBI has asked banks to improve their monitoring of the origin and end use of loan funds.
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