ASIC commences civil penalty proceedings against Commonwealth Bank of Australia LeapRate

January 30, 2018 BY Valentina Kirilova

ASIC commences civil penalty proceedings against Commonwealth Bank of Australia

ASIC announced that it has today commenced legal proceedings in the Federal Court in Melbourne against the Commonwealth Bank of Australia (CBA) for unconscionable conduct and market manipulation in relation to CBA's involvement in setting the bank bill swap reference rate (BBSW) between 31 January 2012 and October 2012. The BBSW is the primary interest…

January 24, 2018 BY Valentina Kirilova

Securities Commission Malaysia wins insider trading case against former founder of WCT Bhd

The High Court today informed that it has found that the Securities Commission Malaysia (SC) had successfully proven an insider trading case against Chan Soon Huat, a former founder and director of WCT Bhd (WCT). In the suit that was filed in 2015, the SC claimed that Chan had breached section 188(2)(a) of the Capital…

January 22, 2018 BY LeapRate Staff

Six CPAs charged with 'Stealing the Exam' ahead of KPMG audit inspections

The U.S. Securities and Exchange Commission has announced charges against six certified public accountants, including former staffers at the Public Company Accounting Oversight Board (PCAOB) and former senior officials at KPMG LLP, arising from their participation in a scheme to misappropriate and use confidential information relating to the PCAOB's planned inspections of KPMG. The SEC's…

January 22, 2018 BY Valentina Kirilova

CFTC charges CabbageTech Corp. (Coin Drop Markets) for fraudulent virtual currency scheme

The Commodity Futures Trading Commission (CFTC) nformed that it has filed a federal civil enforcement action in the U.S. District Court for the Eastern District of New York against Defendants Patrick K. McDonnell, of Staten Island, New York, and CabbageTech, Corp. d/b/a Coin Drop Markets (CDM), a New York corporation, charging them with fraud and…

January 19, 2018 BY Valentina Kirilova

Former Australian Bight Abalone CEO convicted over false and misleading information

Mr Andrew Ferguson, the former Chief Executive Officer of abalone farmer, Australian Bight Abalone (ABA), was today found guilty on 17 counts related to providing false or misleading information to the ABA Board of Directors and prospective investors following a jury trial in the District Court of South Australia. Following an ASIC investigation, Mr Ferguson…

January 18, 2018 BY Valentina Kirilova

Bank Markazi filed complaint against Deutsche Börse AG subsidiary Clearstream

In the context of the ongoing disputes regarding assets of the Central Bank of Iran (Bank Markazi), Clearstream Banking S.A., Luxembourg, a 100% subsidiary of Deutsche Börse AG, announced that it was served today with a complaint of Bank Markazi naming Banca UBAE S.P.A. (UBAE) and Clearstream as defendants. The complaint filed before the Luxembourg…

January 18, 2018 BY Valentina Kirilova

ASIC bans former Commonwealth Financial Planning adviser for 5 years

ASIC announced that it has banned Kimberley Holgate, of Wagga Wagga, NSW, from providing financial services for five years. Ms Holgate was an authorised representative of Commonwealth Financial Planning Limited (CFPL) from January 2014 to October 2015. ASIC found that Ms Holgate: engaged in conduct that was likely to mislead by cutting clients' signatures from…

January 17, 2018 BY Valentina Kirilova

Former head of Barclays indicted for orchestrating multimillion-dollar scheme

The former head of Barclays Capital Inc.’s New York foreign exchange trading operation was charged yesterday in an indictment for his alleged role in a scheme to defraud a client of Barclays through a method commonly referred to as “front-running.” The charges relate to the manipulation of foreign exchange options in advance of an exceptionally…

January 16, 2018 BY Valentina Kirilova

Securities Commission Malaysia charges individual in scheme to defraud Proton Cooperative

The Securities Commission Malaysia (SC) informed that it has today charged a 67-year-old man for defrauding Koperasi Pelaburan Pekerja-Pekerja Proton Bhd (KOPRO) of its investments of RM350,000 for the purchase of securities between August 2007 and November 2008. Ismail Basir was also alleged to have represented to KOPRO that he was a remisier, when in…

January 15, 2018 BY Valentina Kirilova

Barclays trader outlines use of Last Look FX and Toxic Clients

Barclays Plc (LON:BARC) has fired managing director David Fotheringhame after an order from the Department of Financial Services (New York regulator) two years ago, Bloomberg reported. Fotheringhame was sacked after a $150 million settlement between Barclays and the New York’s banking regulator. The agency had told the bank in 2015 to “take all steps necessary”…

Category: Charges

ASIC commences civil penalty proceedings against Commonwealth Bank of Australia

Securities Commission Malaysia wins insider trading case against former founder of WCT Bhd

Six CPAs charged with 'Stealing the Exam' ahead of KPMG audit inspections

CFTC charges CabbageTech Corp. (Coin Drop Markets) for fraudulent virtual currency scheme

Former Australian Bight Abalone CEO convicted over false and misleading information

Bank Markazi filed complaint against Deutsche Börse AG subsidiary Clearstream

ASIC bans former Commonwealth Financial Planning adviser for 5 years

Former head of Barclays indicted for orchestrating multimillion-dollar scheme

Securities Commission Malaysia charges individual in scheme to defraud Proton Cooperative

Barclays trader outlines use of Last Look FX and Toxic Clients

Equiti Gains In-Principle Approval to Launch Investment Fund

Euro Route to Romanian Bond Market Opened by Clearstream

CFPB Sues Capital One: Says Company Cheated Consumers Out of Over $2bn in Interest Payments

Thunes and Hyperwallet Expand Payout Access Across Asia-Pacific

Worldline Extends KBC Partnership in New 6-Year Agreement