United States

Fraud, Scams & Cybercrime

BaFin Efficacy Called into Question for Wirecard Handling

By Manesh Samtani | 22/06/2020

Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.

PEPs & Sanctions

Singapore Court Charges Two for North Korea Linked Bank Fraud

By Editors | 21/06/2020

The two are accused of falsifying invoices to conceal from UOB and OCBC the sale of sugar to North Korea entities. One of the individuals is also on the FBI’s most-wanted list.

Market Abuse

CFTC Settles Deutsche Bank Spoofing, Swaps Reporting Cases

By Editors | 19/06/2020

Deutsche Bank will pay $9mn for violating swap data reporting requirements during a system outage, and $1.25mn for spoofing carried out by two Tokyo-based traders.

PEPs & Sanctions

US Passes Bill Threatening Sanctions Over Uyghur Human Rights

By Editors | 19/06/2020

The bill allows the US President to impose sanctions against Chinese officials identified as responsible for human rights abuses against Muslim minority groups in Xinjiang.

Sustainable Finance

HKEX to Launch Sustainable Finance Information Platform, ‘STAGE’

By Manesh Samtani | 18/06/2020

Initially, ‘STAGE’ will host information on the 44 green bonds and two ESG-related ETFs listed in Hong Kong. Over time, it could expand to include equities, overseas products, and derivatives.

Emerging Prudential Risks

US Federal Reserve Launches Bond-Buying Programme

By Manesh Samtani | 16/06/2020

A step not taken during the 2008 GFC, the Fed has started to buy corporate bonds in the secondary market, in a bid to support market liquidity and ensure credit availability.

Clearing & Post-Trade

EC Proposes Simplified Approach to Supervising Non-EU CCPs

By Editors | 14/06/2020

Under the new approach, third-country CCPs that are not deemed systemically important will only be subject to basic ESMA supervision, relying on ‘comparable compliance’.

Trading & Investment

Thailand SEC Supports LuxSE Listings by Domestic Firms

By Editors | 10/06/2020

Thai bond issuers can list their securities on LuxSE’s BdL or Euro MTF; or alternatively obtain a profile listing on the SOL to gain visibility on the Luxembourg Green Exchange.

Fraud, Scams & Cybercrime

Luckin Coffee Chairman Likely to Face Criminal Charges – Report

By Editors | 08/06/2020

The CSRC and Ministry of Finance have reportedly found new email evidence indicating that chairman Lu Zhengyao instructed his colleagues to commit fraud.