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Enforcement
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.
AML / KYC
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.
Securities / Derivatives
HKMA, SFC Consult on Annual Update to FSP List
By Editors | 15/04/2021
A unit of Toronto-Dominion Bank is proposed to be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
Enforcement
SFC Fines Optimas Capital Over Short Position Reporting Errors
By Editors | 15/04/2021
The errors occurred as a result of a programming mistake in a script created to automate the process of identifying reportable short positions.
Big Picture
The ESG Interview: Making Climate Data Comparable
By ESG Investor | 14/04/2021
IOSCO Chair Ashley Alder believes we’re in sight of “a real step change” in sustainability reporting, writes Chris Hall at ESG Investor.
Enforcement
SFC Wins Final Appeal in 2007 Insider Dealing Case
By Manesh Samtani | 07/04/2021
The Market Misconduct Tribunal and Court of Appeal both ruled against the SFC before the case was brought to the Court of Final Appeal.
Enforcement
SFC Adds ‘Ramp-and-Dump’ Syndicate Member to Wanted List
By Editors | 07/04/2021
An arrest warrant was issued for Zeng Lingxi, an alleged member of a syndicate suspected of operating ramp-and-dump scams on social media.
Enforcement
SFC Fines Black Marble Securities for Internal Control Failings
By Editors | 01/04/2021
The disciplinary action followed a client complaint about unauthorised trading activities in his account from August 2016 to July 2017.
Securities / Derivatives
HK to Consult on SPAC Listing Framework in June – Report
By Editors | 29/03/2021
The rules are expected to include conditions for sponsors or SPACs. Acquisition targets will have to meet the existing standards for IPOs.
Securities / Derivatives
US Securities Regulator Opens Inquiry into SPAC Listings
By Sanday Chongo Kabange | 29/03/2021
The SEC has reportedly written to banks seeking information on how underwriters are managing the risks involved.
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