Daily News Headlines

  • Daily News Headlines - 14 Aug 2020

    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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