Category Archives: Enforcement

U.S. – FINRA Fine CS Options Reports

On 16 May, FINRA fined Credit Suisse $200k for option reports. Bank fined $200k, of which $75k payable to FINRA and install compliance controls. For reporting options positions to large options positions reporting (LOPR) system. Alleged Violations Bank failed to report over the counter (OTC) options positions to the LOPR system. Reported positions with inaccurate…
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Hong Kong – SFC Deutsche Short Fine

On 13 March, HK SFC fined Deutsche Bank HK$8.3mn for short sales. Fined Deutsche Bank and its wholly-owned subsidiary Deutsche Securities Asia. Re short position reports, unlicensed activities and segregation of client money. Short Positions Breach of reporting requirements, led to a failure to report 792 short positions. Short position at close of trading on…
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Hong Kong – SFC Nomura Takeover Code

On 5 March 2018, HK SFC publicly criticized Nomura on takeover research. Criticized Nomura International (HK) Limited, for breaches of HK takeover code. Also cited Lee Yuen Yee, whilst acting as financial adviser to West China Cement. Lee is a licensed representative of Nomura Hong Kong, for the regulated activity. Work done in relation to…
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Finland – FINFSA Afarak Takeover Fine

On 21 February, FINFSA fined Danko Koncar, obliged it bid forĀ Afarak. FINFSA obliged Danko Koncar to launch takeover bid for Afarak Group Plc shares. Alleged Violation FINFSA considered Koncar acted in concert with Hino Resources Co. Ltd, Finaline Business Limited and his spouse Jelena Manojlovic, to exercise control in Afarak. Violated provision of the Securities…
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