‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInNovartis Investigates China Bribery Allegations – WSJ
Novartis AG’s eye-care division Alcon has opened an investigation into allegations that members of its Chinese staff bribed doctors at hundreds of hospitals in China, the second time the company has looked into possible problems at its China operations in as many months. via Novartis Investigates China Bribery Allegations – WSJ
Bribery by GSK China was coordinated at company level: Xinhua — Reuters
A Chinese police investigation into drugmaker GlaxoSmithKline has discovered that alleged bribery of doctors in China was coordinated by the British company and was not the work of individual employees, state media reported on Tuesday. via Bribery by GSK China was coordinated at company level: Xinhua — Reuters
Everbright Sued by Investors for Damages on China Insider Trade – Businessweek
Everbright Securities Co. 601788, ordered by China’s securities regulator to pay a record 523 million yuan $85 million for insider trading, was sued by investors in Guangzhou and Shanghai seeking damages for losses. Courts in the two cities have received the claims and haven’t yet decided whether to accept them, Ye Xiaolei and Yan Yiming, […]
China’s Everbright Gets Record Penalty After Insider Trading – Bloomberg
China’s securities regulator imposed a record penalty on Everbright Securities Co. (601788) after finding the state-controlled broker engaged in insider trading as it roiled the nation’s equity markets with errant trades two weeks ago. Fines and the confiscation of illicit gains will total 523 million yuan ($85 million), the China Securities Regulatory Commission said in […]
Hiring in China By JPMorgan Under Scrutiny – DealBook
Federal authorities have opened a bribery investigation into whether JPMorgan Chase hired the children of powerful Chinese officials to help the bank win lucrative business in the booming nation, according to a confidential United States government document. via Hiring in China By JPMorgan Under Scrutiny – DealBook
Could China scandal derail Glaxo? – CNNMoney
Chinese officials have accused the drugmaker of orchestrating a massive bribery and corruption scheme, putting it at risk of fines and legal action, major damage to its reputation, and loss of business in a key growth market. via Could China scandal derail Glaxo? – CNNMoney
Deloitte’s China unit wins dismissal of fraud claim over audit
Court finds investors failed to show Deloitte unit had any motive to commit fraud or that it made any material misstatements in its audit opinions of Longtop.
China-Based Company and Former CFO to Pay Penalties for Disclosure and Accounting Violations
SEC charges Keyuan Petrochemicals and its former CFO with accounting and disclosure violations.
China regulators probe IPO ‘hush money’
China Securities Regulatory Commission reportedly looking into deals between companies seeking IPOs and media organizations.
Hong Kong’s SFC Brings Action Against E&Y Over State Secrets
Case is SFC’s second action in a week involving mainland China firms trying to withhold information as “state secret.”