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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInGoldman Sachs analyst used inside information for profit, London court told | Reuters
A former Goldman Sachs analyst used confidential information to make more than 140,000 pounds ($176,800) from shares in listed companies, prosecutors told a London court on Thursday. Mohammed Zina, 35, who was employed by Goldman Sachs International in its conflicts resolution group in London, is accused of six offences of insider dealing relating to shares […]
KPMG, Deloitte Ask Staff to Use Burner Phones for HK Visits: FT – Bloomberg
Deloitte and KPMG have asked some executives based in the US to avoid using their usual work phones during visits to Hong Kong, the Financial Times reported, citing unidentified people with knowledge of the policies. *** The move comes as China increases its control over Hong Kong, the Asia-Pacific headquarters of many global companies, the […]
China Rounds Up 31,000 Suspects in Sweeping ‘Pig-Butchering’ Crackdown – WSJ
For months, China has tried to break up cybercrime syndicates that operate from shadowy compounds across the border in neighboring countries and swindle people around the world. The scammers call the fraud “pig-butchering”: They “fatten” victims by gaining their trust online, convince them to transfer large sums of money and then “butcher” them by absconding […]
Lagarde calls for European SEC | Investment Executive
It’s time for a European edition of the SEC, says Christine Lagarde, president of the European Central Bank (ECB). In a speech at the European Banking Congress in Frankfurt, Lagarde made the case for creating a strong single regulator to facilitate the development of a unified capital market in the region. While a capital markets […]
Are firms prepared for wave of messaging fines headed for Britain? | Global Investor Group
The last few years have seen market regulators dole out record numbers of fines to financial institutions over their failure to adequately monitor employee communications on instant messaging applications like WhatsApp. According to Securities and Exchange Commission (SEC) enforcement division chief Gurbir Grewal, the regulator has filed charges against 40 financial firms and imposed more […]
France Crypto Bets Exceed Investments in Stocks or ETFs – Bloomberg
A new survey on the investing mindset of the French people shows that nearly one in four own some kind of investment, and half of those who do first dipped their toes during the pandemic. It turns out that the cryptocurrency craze injected some YOLO energy here as well: More French people own crypto (9%) […]
First Conviction for Insider Dealing in Irish Legal History – Lexology
The case is the first criminal conviction for insider trading in the history of the State. In May 2022, the High Court confirmed sanctions imposed by the Central Bank Enforcement Division on a former director and chairman of several public companies, who was found to have engaged in insider dealing in 2008. He was fined […]
The Hunt for Crypto’s Most Famous Fugitive. ‘Everyone Is Looking for Me.’ – WSJ
Fallen crypto tycoon Do Kwon was ready to get out of Montenegro. He and his colleague arrived at the small Balkan country’s main airport, where a Bombardier business jet was waiting to take them to Dubai. Inside the VIP terminal, Kwon handed his passport to an immigration officer, who swiped it. An alert flashed across […]
EU securities watchdog warns investors over crypto market protections | Reuters
Investors will not be protected under European Union cryptoasset market rules until at least the end of 2024, and even then they should still be ready to lose all their money, the bloc’s securities watchdog said on Tuesday. The EU was the first jurisdiction in the world to approve a comprehensive set of rules to […]
Guest Post: Carillion Directors’ Disqualification Proceedings: A Cautionary Tale for All Non-Executive Directors | The D&O Diary
Nearly six years after the collapse of Carillion in January 2018 with debts in the region of £7 billion, the trial of its five non-executive directors (and one executive director) under the Company Directors Disqualification Act (CDDA) in proceedings brought against them by the Insolvency Service was finally due to get underway today but was […]