Monthly Archives: February 2018

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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Hong Kong – SFC Fines Credit Suisse $39mn

On 8 February, HK SFC fined Credit Suisse $39.3mn for regulatory breach. Followed self-reporting of breaches, agreed independent reviews, and investigation. Failures in segregating client securities, and reporting direct business transactions. Complying with short selling, electronic trading requirements, contract note rules. Failures in internal controls to ensure suitable investment products sold to customers. Co-operation expedited…
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