On 16 July 2024, CIRO released its annual 2023-2024 enforcement report. CIRO released its 2023-2024 Enforcement Report, underscoring its commitment to investor protection, improving industry standards, and strengthening market integrity. Case Highlights Fortrade Canada fined $2mn for making prohibited recommendations. As order execution dealer, Fortrade violated regulations by providing recommendations. Also failed to maintain a […]

On 10 July 2024, the China Securities Regulatory Commission (CSRC) approved the suspension of refinancing of securities lending (used as part of short selling). Background: Securities Lending is when brokers borrow shares on behalf of their clients to initiate short selling. Existing refinancing contracts can be rolled over, but no later than 30 September. Effective […]

On 8 July 2024, EU ESMA published updated compliance table re guidelines on short-selling. Denmark, Germany, Spain, France, Ireland, Italy, and Sweden each comply with the majority of the short selling guidelines, and each jurisdiction sets out the rationale for this. The remainder of the EU member states and the EEA and EFTA states all […]

On 3 July 2024, SK FSC, SK FSS fined global IBs total of KRW 27.173mn. SK FSC, SK FSS said Securities and Futures Commission had decided to impose fines totaling KRW 27.173 against two former Credit Suisse affiliated investment banks. Follows SK FSS May 2024 discovered illegal short selling in 9 global IBs. Overview of […]