SFC
reprimands and fines Southwest Securities (HK) Brokerage Limited $5 million for
breaches of anti-money laundering regulatory requirements
SFC, 18
May 2020
The Securities and Futures
Commission (SFC) has reprimanded and fined Southwest Securities (HK) Brokerage
Limited (SSBL) $5 million for failures in complying with anti-money laundering
and counter-terrorist financing (AML/CFT) regulatory requirements in 2016.
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Concurrent
SFC-HKMA thematic review of spread charges and other practices
SFC, 18
May 2020
The Securities and Futures
Commission (SFC) and the Hong Kong Monetary Authority (HKMA) will commence a
concurrent thematic review in the second half of this year to assess
intermediaries’ spread charges and other practices as well as their compliance
with requirements governing the disclosure of trading capacity and monetary
benefits under the Code of Conduct. The review will cover the selected
intermediaries’ policies, procedures, systems and controls as well as
management oversight of the distribution to clients of non-exchange traded
investment products such as bonds and structured products.
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ESMA –
Non-renewal and termination of short selling bans by Austrian FMA, Belgian
FSMA, French AMF, Greek HCMC, Italian CONSOB and Spanish CNMV
ESMA, 18
May 2020
The European Securities and Markets
Authority (ESMA), the EU’s securities markets regulator, notes the non-renewal
of the emergency restrictions on short selling and similar transactions by the
following national competent authorities (NCAs): Finanzmarktaufsicht (FMA) of
Austria; Financial Securities and Markets Authority (FSMA) of Belgium; Autorité
des Marchés Financiers (AMF) of France; Hellenic Capital Market Commission
(HCMC) of Greece; and Comisión Nacional del Mercado de Valores (CNMV) of Spain.
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SEC
Charges Three Former KPMG Audit Partners for Exam Sharing Misconduct
US
SEC, 18 May 2020
The Securities and Exchange
Commission today announced settled charges against three former KPMG LLP audit
partners for improperly sharing answers to internal training exams and for
subsequent wrongdoing during an investigation of exam sharing misconduct at the
firm. The SEC previously charged KPMG with violations concerning the exam
sharing misconduct, as well as for altering past audit work after receiving
stolen information about inspections that would be conducted by the PCAOB.
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