Topic: Market abuse

Westpac to pay AU$9.8 million over “unconscionable” trades

01 February 2024

Relations sour between Mongolia and ex-Rio Tinto insiders

Richard Bowley and Maurice Duffy believe they helped Mongolia negotiate a settlement with Rio Tinto worth over $2 billion. The Mongolian government thinks the pair are straining the country’s partnership with the mining business.

25 January 2024

Ex-JPMorgan traders ask US court to cancel spoofing convictions

Three former JPMorgan traders who were sentenced to prison for manipulating precious metals markets have told an appeal court that there was insufficient evidence to convict them at trial.

09 January 2024

DOJ charges Tingo Group founder over alleged fraudulent revenues

US federal prosecutors have accused Nigerian businessman Dozy Mmobuosi for allegedly misleading investors about the value of companies in his Tingo Group.

03 January 2024

China: New Zero-Tolerance Crackdown on Securities Market Crimes and Irregularities

Featured in The Guide to International Enforcement of the Securities Laws - Third Edition

China’s approach towards securities market crimes is increasingly strict. In 2022, the number of prosecuted crimes nearly doubled compared to 2021. Chinese regulators attribute this surge to an increase in financial fraud and illegal information disclosure, more specialised market manipulation crimes and the rise of M&A as an area for insider trading.

07 December 2023

France: How the AMF Handles Market Abuse and Issues Arising in Enforcement Investigations

Featured in The Guide to International Enforcement of the Securities Laws - Third Edition

The AMF has the right to conduct investigations and inspections and has enforcement powers that enable it to impose financial and disciplinary sanctions. A wide range of legal issues can come up throughout an investigation, such as statute of limitations, document production and international cooperation.

07 December 2023

Germany: Pressing Enforcement Issues Affecting Listed Companies and Securities Market Intermediaries

Featured in The Guide to International Enforcement of the Securities Laws - Third Edition

Several key issues, including when companies can claim legal privilege and the extent to which assistance should be included in protection against seizure, have not yet been clarified by German case law, leading to inconsistencies and complications when it comes to enforcement.

07 December 2023

Bank of America to pay $24m over spoofing and supervisory failures

01 December 2023

UK hedge fund founder to challenge Forex manipulation conviction

26 October 2023

CFTC enforcement targets recidivism, clarifies monitorship decisions

“At the end of the day, penalties need to exceed the costs of compliance,” a CFTC official said as the agency announced changes to its enforcement approach.

18 October 2023

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