Enforcement

Enforcement

Citigroup Faces $1.2m Fine in Japan over Alleged JGB Manipulation

By Editors | 27/03/2019

Citigroup’s London office allegedly placed large orders in the 10-year JGB futures market outside of Japanese trading hours that were not executed, but may have mislead investors.

Enforcement

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.

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.

Enforcement

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.

Enforcement

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.

Enforcement

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.

Securities / Derivatives

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”.

Enforcement

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.

AML / KYC

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.