Category: Fines

March 30, 2017 BY Valentina Kirilova

WhatsApp leaks land Jefferies investment banker FCA fine

The Financial Conduct Authority (FCA) announced that has today fined Christopher Niehaus, a former investment banker, £37,198 for sharing client confidential information over WhatsApp. The FCA found that Mr Niehaus failed to act with due skill, care and diligence. The FCA found that Mr Niehaus, who was a managing director in the Investment Banking division…

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March 24, 2017 BY Valentina Kirilova

SFC fines Merrill Lynch Far East Limited & Merrill Lynch Limited $15 million over internal control failures

The Securities and Futures Commission (SFC) has resolved its concerns with Merrill Lynch Far East Limited (MLFE) and Merrill Lynch (Asia Pacific) Limited (MLAP) over internal control failures. Under the resolution, the SFC reprimanded and fined them a total of $15 million for breaches of the Code of Conduct and the Internal Control Guidelines. In…

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March 16, 2017 BY Valentina Kirilova

SFC reprimands and fines DBS Vickers (Hong Kong) Limited $2 million

The Securities and Futures Commission (SFC) has reprimanded DBS Vickers (Hong Kong) Limited (DBSVHK) and fined it $2 million for regulatory breaches and internal control failings relating to under-segregation of client money. The disciplinary action follows an SFC investigation into three self-reports by DBSVHK about possible non-compliance with the Securities and Futures (Client Money) Rules…

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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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