Securities & Markets

ASIC Disqualifies Director for Five Years Due to Company Failures and Fraud

ASIC has disqualified Vincenzo Frank Tesoriero from managing corporations for five years due to his involvement in the failure of 20 companies. The disqualification stems from improper conduct, including facilitating fraudulent transactions and failing to maintain adequate records.

Macquarie Securities fined $35 million for short sale misreporting

The New South Wales Supreme Court has ordered Macquarie Securities (Australia) Limited (MSAL) to pay a $35 million penalty for systemic failures that led to the misreporting of tens of millions of short sales over more than a decade. ASIC initiated civil proceedings against MSAL in May 2025.

ASIC Disqualifies Director Simon Raftery for Two Years and Six Months

ASIC has disqualified Simon Raftery from managing corporations for two and a half years due to his involvement in five failed companies that owed approximately $43 million. Mr. Raftery's application for a stay on the disqualification decision was refused by the Administrative Review Tribunal.

ASIC Secures Record $350M Civil Penalties and $583M in Refunds

ASIC announced record civil penalties of $349.8 million and $583 million in refunds and payments to Australians for the second half of 2025. These outcomes resulted from successful enforcement actions against major companies and super trustees for serious misconduct.

Retail Trader Sentenced for False Trading in Hong Kong

The Securities and Futures Commission (SFC) Hong Kong announced that a retail trader was sentenced to 220 hours of community service and fined $117,715 for false trading in six Hong Kong-listed companies. The SFC highlighted the importance of market integrity and investor confidence.

SFC obtains HK$4M compensation order against former Coolpad executive

The Securities and Futures Commission (SFC) of Hong Kong obtained a compensation order of HK$4 million against Mr Zhang Wei, a former executive director of Coolpad Group Limited. Zhang was also disqualified from holding directorships for five years for his role in transactions that caused significant losses to the company.

SFC Freezes HK$4.3M Assets in Insider Dealing Case

The Securities and Futures Commission (SFC) of Hong Kong has obtained worldwide court orders to freeze assets totaling HK$4.3 million in an insider dealing case. The action targets a former HKEX staff member and his relatives, alleging access to and trading on confidential information.

SFC bans Andy Lau Ka Ho for life over misconduct

The Securities and Futures Commission (SFC) has permanently banned Andy Lau Ka Ho, a former licensed representative, from the industry for serious misconduct. The ban follows an investigation into unauthorized trading, fabricated instructions, and forged statements conducted between 2014 and 2019.

SFC and ICAC Joint Operation Targets Insider Dealing and Corruption

The SFC and ICAC conducted a joint operation targeting insider dealing and corruption involving senior executives of three licensed corporations. Eight individuals were arrested, and investigations revealed alleged bribes of over $4 million leading to approximately $315 million in illicit profits.

ASIC Launches Interactive Dashboard for Financial Complaints Data

The Australian Securities and Investments Commission (ASIC) has launched a new interactive dashboard providing unprecedented access to consumer complaints data. The dashboard allows users to compare complaints reported by individual financial firms, enhancing transparency and accountability within the financial services industry.