SFC commences criminal prosecution on market manipulation of shares of Ching Lee Holdings Limited
SFC, 13 Aug 2020
The SFC alleges that between 29 March 2016 and 7 September 2016, the
five defendants – Ms Sit Yi Ki, Ms Lam Wing Ki, Mr Tam Cheuk Hang, Mr Simon
Suen Man and Mr Ho Ming Hin – conspired to create a false or misleading
appearance of active market in respect of the Ching Lee shares, contrary to
sections 295 and 303 of the SFO and section 159A of the Crimes Ordinance.
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MAS commits $250 million to fast-track financial sector
innovation, develop Singaporean fintech talent
The Straits Times, 13 Aug 2020
The Monetary Authority of Singapore (MAS) is stepping up its support
for fintech here, by committing $250 million in the second edition of a scheme
to speed up technology adoption and innovation-driven growth in the local
financial sector.
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SEC Charges Issuer and CEO With Misrepresenting Platform
Technology in Fraudulent ICO
SEC, 13 Aug 2020
The Securities and Exchange Commission today announced charges
against Virginia-based Boon.Tech and its chief executive officer Rajesh
Pavithran for fraud and registration violations in connection with a $5 million
initial coin offering (ICO) of digital asset securities.
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Advisory Firm Settles Charges of Defrauding Investors, Agrees to
Refund Allegedly Ill-Gotten Gains to Harmed Clients
SEC, 13 Aug 2020
The Securities and Exchange Commission today announced that SCF
Investment Advisors, Inc. (SCF) has agreed to settle charges that it selected
mutual funds and cash sweep money market funds for clients that provided
undisclosed revenue to the firm’s affiliated broker-dealer and were more
expensive than other available options for the same funds. The settlement includes a distribution of
money to harmed clients of the Fresno, California-based investment advisory
firm.
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SEC Charges Hertz’s Former CEO With Aiding and Abetting Company’s
Financial Reporting and Disclosure Violations
SEC, 13 Aug 2020
The Securities and Exchange Commission today charged former Hertz
CEO and Chairman Mark Frissora with aiding and abetting the company in its filing
of inaccurate financial statements and disclosures. Frissora has agreed to settle the charges and
repay Hertz nearly $2 million in incentive-based compensation.
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