Category: Fines

March 15, 2017 BY Valentina Kirilova

SFC reprimands and fines BOCOM International (Asia) Limited $15 million for sponsor failures

The Securities and Futures Commission (SFC) has reprimanded and fined BOCOM International (Asia) Limited (BIAL) $15 million, for failing to discharge its duties as a sponsor in relation to the listing application of China Huinong Capital Group Limited. Failure to conduct all reasonable due diligence before submitting an application China Huinong is a company established…

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SFC fines
March 15, 2017 BY LeapRate Staff

Credit Suisse fined $170,000 in Australia for order filtering issues

Australia financial regulator ASIC has announced that Credit Suisse Equities (Australia) Limited, an Australian unit of global banking firm Credit Suisse Group AG (ADR) (NYSE:CS) has paid a penalty of AUD $170,000 to comply with an infringement notice from ASIC's Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Credit Suisse had contravened…

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March 14, 2017 BY Valentina Kirilova

SFC reprimands and fines Zhongtai International Securities Limited $2.6 million

The Securities and Futures Commission (SFC) has reprimanded Zhongtai International Securities Limited, formerly known as Qilu International Securities Limited (Zhongtai), and fined it $2.6 million for failures in complying with anti-money laundering regulatory requirements when handling third party fund deposits. The SFC found that between January 2013 and December 2014 (Relevant Period), Zhongtai failed to:…

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SFC fines
March 06, 2017 BY Valentina Kirilova

SFC fines Guangdong Securities Ltd $3 million for breach of anti-money laundering guidelines

The Securities and Futures Commission (SFC) has reprimanded Guangdong Securities Limited (GSL), now known as Sinolink Securities (Hong Kong) Company Limited, and fined it $3 million for failures in complying with anti-money laundering guidelines when handling third party payments. The SFC found that between February 2011 and March 2013, GSL’s internal controls for handling payments…

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SFC fines
February 28, 2017 BY Valentina Kirilova

MMT sanctions Yorkey Optical, its CEO and Financial Controller for late disclosure of inside information

The Market Misconduct Tribunal (MMT) has found that Yorkey Optical International (Cayman) Limited, its CEO Mr Nagai Michio and Financial Controller Mr Ng Chi Ching failed to disclose inside information as soon as reasonably practicable under the corporate disclosure regime following proceedings brought by the Securities and Futures Commission (SFC). The MMT found that there…

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SFC fines
February 23, 2017 BY Valentina Kirilova

BGC Partners pays $90,000 in infringement notice penalty

BGC Partners (Australia) Pty Limited (BGC) has paid a total penalty of $90,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC announced earlier today. The MDP had reasonable grounds to believe that BGC had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply…

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February 20, 2017 BY Valentina Kirilova

Former GRG Investments CEO convicted of unlicensed dealing

The Eastern Magistrates’ Court today convicted Mr Chiang Ching Fung, former chief executive officer of Gold Root Global Investments Limited (GRG Investments), of unlicensed dealing in futures contracts in a prosecution by the Securities and Futures Commission (SFC). This came after the conviction of GRG Investments in October last year of dealing in futures contracts…

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SFC fines
February 20, 2017 BY Valentina Kirilova

Share Investing pays $130,000 in infringement notice penalty

Share Investing Limited has paid a penalty of $130,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Share Investing had contravened subsection 798H(1) of the Corporations Act 2001 (Cth) by failing to comply with Rule 5.7.1(b)(iii) of the ASIC Market…

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