http://www.reuters.com/article/2015/03/18/china-corruption-assets-idUSL3N0WK1QW20150318

Posted by KOH Ngiap Hao, Year 4 undergrad at the School of Accountancy, Singapore Management University

The Chinese government will audit the overseas assets of state-owned enterprises, the regulator announced, as it tries to improve transparency and combat corruption.

The State-owned Assets Supervision and Administration Commission said late on Tuesday that it had issued a tender for the audit, in what state media said was the first time such a tender had been offered.

Companies who wish to apply must be incorporated in China and have Chinese government licences, the regulator said, adding that the results of the tender will be announced on April 7. Continue reading →

http://www.businesstimes.com.sg/companies-markets/mas-cad-to-together-probe-market-misconduct-from-now-on

MAS, CAD to jointly investigate market misconduct

Kenneth Lim

18 March 2015

Business Times Singapore

Decision to pursue civil or criminal action to be decided after probe is concluded

TIES between the Singapore police and the nation’s financial regulators are set to become closer, with a new framework to merge investigations of market misconduct. The Monetary Authority of Singapore (MAS) and the Singapore Police Force’s Commercial Affairs Department (CAD) will jointly investigate market misconduct from now on, in an effort to streamline and strengthen enforcement, the two agencies announced on Tuesday. Continue reading →

http://www.dailymail.co.uk/wires/ap/article-2832563/Hong-Kong-stock-regulators-struggle-spot-fraud.html

Posted by Hannah YAP Qing, Year 4 undergrad at the School of Accountancy, Singapore Management University

Hong Kong stock regulators struggle to spot fraud

By ASSOCIATED PRESS

PUBLISHED: 05:06 GMT, 13 November 2014 | UPDATED: 05:06 GMT, 13 November 2014

WASHINGTON (AP) — Few American investors have ever visited Hong Kong’s stock exchange, a cavernous trading hall at the base of a skyscraper in the city’s central district. Their money, however, is far more likely to be acquainted with the Hong Kong Market. Continue reading →

http://www.wsj.com/articles/one-of-chinas-most-wanted-tries-to-make-a-final-deal-1426548369

One of China’s Most-Wanted Tries to Make a Final Deal

In pursuit of runaway funds, Beijing struck a deal with a fraudster tired of life on the lam

JAMES T. AREDDY

March 16, 2015 7:26 p.m. ET

On a Sunday afternoon three years ago, one of China’s most-wanted fugitives, dressed in baggy jeans and a striped shirt, walked into the country’s pagoda-shaped consulate in Vancouver. Li Dongzhe was ready to take the biggest gamble of his life.

Accused of masterminding a $113 million embezzlement, he had been living in Canada for almost seven years, beyond the grasp of China’s justice system. At home, he faced likely life in prison or a possible death sentence if found guilty—and government figures show Chinese criminal courts hardly ever acquit. Continue reading →

http://www.wsj.com/articles/would-be-financial-whiz-is-charged-with-stealing-from-investors-1426554634

Would-Be Financial Whiz Is Charged With Stealing From Investors

Mark Malik’s fund won praise from ranking firms

Prosecutors and the SEC say that a hedge fund set up by a man named Mark Malik was part of a plan to scam investors. Photo: Associated Press

JEAN EAGLESHAM

March 16, 2015 9:10 p.m. ET

Mark Malik seemed to have a knack for making money. The 33-year-old New Yorker ran his own hedge fund, reporting assets of $100 million and eye-popping returns that won plaudits from several services that rank hedge funds. He explained he had honed his skills at top investment banks and a boutique trading firm.

Fund Report

Report emailed by Seven Sages Capital in September 2012 with a cover letter noting, “Please note that Seven Sages Capital has been ranked No. 1 Best Performing Hedge Fund in BarclayHedge for June 2012 and No. 2 for July 2012 respectfully.”

Continue reading →