[Singapore]
MAS and SGX: Beware of risks related to trading incited by online discussions
MAS
News, 2 Feb 2021
The
Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX
RegCo) advise the investing public to be on heightened alert to the risks
related to trading in securities incited by online discussion forums and social
media chat groups. The public should be aware that certain individuals may
exploit this interest for their own benefit through “pump and dump” activities
that can amount to market misconduct under the Securities and Futures Act. Any
conduct that intentionally, knowingly, or recklessly creates a false or
misleading appearance regarding the active trading, market or price of
securities is prohibited under the SFA.
Full
text: click here
[Singapore]
Singapore to proceed with Sora transition, even as Libor discontinuation may be
pushed back
Business
Times, 2 Feb 2021
Singapore
will press ahead with its industry transition to the Singapore Overnight Rate
Average (Sora) as the new interest rate benchmark by the end of this year, even
as the discontinuation of a key global rate - the Libor - could be pushed to
mid-2023. the proposed extension of Libor discontinuation also provides time to
do more to actively transition legacy SOR contracts to Sora, and to deal with
the "most challenging legacy transition issues". This transition is
expected to be completed by end-2022, Leong Sing Chiong, deputy managing
director (markets & development) at the MAS said.
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text: click here
[Hong
Kong] Market Misconduct Tribunal sanctions Li Yik Shuen for insider dealing in
Meadville Holdings Limited shares
SFC
Enforcement News, 3 Feb 2021
The
Market Misconduct Tribunal has ordered that Ms Li Yik Shuen be banned from
dealing in securities in Hong Kong for two years, effective from 2 February
2021, after finding her culpable of engaging in insider dealing in the shares
of Meadville Holdings Limited following proceedings brought by the SFC. Li has also
been ordered to disgorge her profit of $546,817.43 from insider trading in
Meadville shares.
Full
text: click here