The Malta Financial Services Authority (MFSA) announced that has decided to impose an administrative penalty of €15,000 on BTFX Brokersclub Limited in terms of the powers granted to the Authority under Article 16A of the Investment Services Act. Brokersclub Limited was found in breach of: SLC 7.45 of Part BI of the Investment Services Rules…
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The Eastern Magistrates’ Court has convicted Mr Sammy Shiu Kin Keung after he pleaded guilty to illegal short selling in the shares of Share Economy Group Limited (formerly known as Vitop Bioenergy Holdings Limited), Global Tech (Holdings) Limited and China Ocean Industry Group Limited (formerly known as China Ocean Shipbuilding Industry Group Limited) on 14…
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The U.S. Commodity Futures Trading Commission (CFTC) announced that on June 1, 2017, Judge James Robart of the U.S. District Court for the Western District of Washington entered a Statutory Restraining Order (SRO) against Sung Hong a/k/a Lawrence or Laurence Hong of Bellevue, Washington (Laurence Hong), Hyun Joo Hong a/k/a Grace Hong of either Bellevue…
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Citigroup Global Markets Australia Pty Ltd has paid a penalty of $50,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP announced that had reasonable grounds to believe that Citigroup had contravened subsection 798H(1) of the Corporations Act 2001 by failing to comply with Rules 3.1.7(1), 3.1.10,…
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The Board of the Cyprus Securities Exchange Commission (CySEC) just announced that has issued series of fines against former executives of CommexFX with a total amount of €400.000. CySEC has previously fined the company CommexFX, and after numerous suspensions of its license, has finally decided to wholly withdraw the authorisation with number CIF 153/11 of CommexFx Ltd,…
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The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against David Liew for engaging in numerous acts of spoofing, attempted manipulation, and, at times, manipulation of the gold and silver futures markets. Liew engaged in this unlawful conduct for more than two years while he was employed as a…
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French bank BNP Paribas (BNPP) has today been struck with a $350 million USD fine by New York State's banking regulator. The bank is being held responsible for its Foreign Exchange “Cartel” manipulating foreign exchange rates, engaging in collusion, executing fake trades, coordinating trades to enhance profits at customers’ expense, and improperly sharing confidential customer…
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UK financial regulator The FCA has announced that the Central Criminal Court has made confiscation orders against the two final defendants who were convicted of offences following one of the FCA’s largest investigations into unauthorised activity. The FCA’s investigation, known as Operation Cotton, led to eight convictions and this week’s orders mean a total of £2,195,496…
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The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew Kurzbard, with a last-known address in Hacksneck, Virginia, finding…
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The Court of Appeal today allowed Securities Commission Malaysia (SC)’s appeal to enhance sentences meted out against former executive directors of Welli Multi Corporation Bhd (Welli Multi), Ang Sun Beng and Ang Soon An, for furnishing misleading financial information to SC in 2005. The court imposed a sentence of six months jail and a fine…
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