In charging former Equifax IT executive Jun Ying with insider trading, the US Securities and Exchange Commission has brought a first-of-its-kind case involving confidential knowledge of material nonpublic cyber-related information.
A shrinking number of brokerage firms and exchange markets to oversee, industry consolidation, and discontent from government and members regarding its oversight procedures has left US Financial Industry Regulatory Authority facing a critical juncture. Behavox Regulatory Intelligence interviewed the regulator and industry experts on the future of enforcement under the agency.
Fighting market abuse is a top priority for regulators as they move on from restoring stability in the wake of the 2008 financial crisis. Behavox Regulatory Intelligence takes an in-depth look at how the battle is shaping up in the main territories, and how firms are navigating the fragmented global enforcement picture.
The former Deutsche Bank trader Guillaume Adolph was fined £180,000 ($250,000) and banned from the industry for his role in the Libor rigging scandal this week, but instead of going quietly he has turned fire on his former employer and accused it of letting him down.
Hong Kong’s asset managers face heightened scrutiny later this year when the new Fund Manager Code of Conduct (FMCC) comes into force, and while the new rules are a necessary step in enhancing the region’s market integrity, the task ahead could be arduous for some.
Sexual harassment allegations have dominated headlines over the last six months with fresh controversies and misconduct cases emerging almost daily, and now the fallout is making its way from the gossip pages to the boardroom as concerns of impact on bottom line rise up the corporate agenda.
The UK arm of the US retail broker, Interactive Brokers, has been fined more than £1m by the UK’s Financial Conduct Authority (FCA) for supervisory control and surveillance failings.
The
The spectre of the LIBOR rigging cartels was raised this week when a sweep of e-comms across three big banks revealed the chatter of multiple rogue traders brazenly boasting as they went about manipulating the futures market.
Three European banks and eight individuals have been charged in the largest criminal takedown of fraudulent activity in the futures market to date, US authorities announced on Monday.