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AML / KYC
SFC Fines Sino-Rich Securities & Futures for AML Breaches
By Editors | 15/03/2021
Sino-Rich Securities & Futures routinely processed 238 cash deposits and 269 third party transfers without adequate AML/CTF controls in place.
Securities / Derivatives
HKEX Launches New China, Taiwan Index Options Contracts
By Editors | 14/03/2021
The new options contracts aim to meet the trading and hedging needs of investors with exposures to large and mid-cap companies in China and Taiwan.
Securities / Derivatives
Indonesia Stock Exchange Considers Allowing SPAC Listings
By Editors | 08/03/2021
IDX’s decision has reportedly prompted concerns about governance, investor protection and inflated valuations for early-stage companies.
Enforcement
HK Police Arrest 12 Members of Ramp-And-Dump Syndicate
By Editors | 08/03/2021
The SFC has frozen securities accounts holding an estimated HK$860mn in ramp-and-dump proceeds, while the Police have seized an additional HK$89mn.
Securities / Derivatives
SFC Greenlights Appointment of Nicolas Aguzin as HKEX CEO
By Editors | 03/03/2021
The SFC gave its approval for Aguzin’s appointment on Tuesday after vetting him against its fit and proper criteria.
Securities / Derivatives
SFC, HKEX Directed to Explore SPAC Listings in Hong Kong
By Editors | 02/03/2021
Financial Secretary Paul Chan has directed the SFC and HKEX to study the feasibility of listing SPACs in Hong Kong.
Enforcement
HK Audit Regulator to Probe Convoy Financial Statements
By Ranamita Chakraborty | 01/03/2021
Zhonghui Anda CPA Limited may have failed to express an appropriate audit opinion in three years of Convoy’s financial statements, the Financial Reporting Council said.
Enforcement
FSC Korea Fines Ten Foreign Firms for Short Selling Violations
By Editors | 28/02/2021
The FSC did not name the firms that were penalised, but said the highest fine was KRW 180 million against a firm that committed four violations.
Enforcement
SFC, FRC to Enhance Regulatory Cooperation in Capital Markets
By Editors | 25/02/2021
Collaboration will be key to combat persistent problems with false or misleading financial statements and other corporate misconduct, said SFC Chairman Tim Lui.
Enforcement
SFC Fines Asset Manager for Short Position Reporting Errors
By Editors | 23/02/2021
The SFC found that 7,814 short positions held by collective investment schemes managed by Brilliance Asset Management were either misstated or omitted.
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