Corporate Crime

Taiwan's financial markets resume trade after turmoil

Taiwan's financial markets resumed relatively normal trade yesterday after the disruptions that crippled internet and telecommunications services the previous day.

Friday, 29 December, 2006, 12:00am

Pfizer wins Viagra case in China

Pfizer, the world's largest drugmaker, has won a court case against a mainland drugmaker and a drug store.

The Jiangsu drugmaker and the Beijing drug store were ordered to stop producing and selling products under a brand similar to Viagra, the world's best-selling male-impotence treatment whose patent is owned by Pfizer.

28 Dec 2006 - 12:00am

Watchdog promotes two and hires one

Financial Secretary Henry Tang Ying-yen has promoted two internal staff at the Securities and Futures Commission as executives, partly easing the recent flight of the watchdog's management team.

Keith Lui Kei-kwong, senior director of supervision of markets, was appointed executive director of supervision of markets.

26 Aug 2006 - 12:00am

Corruption is getting worse, says court

More Guangzhou officials appear to be taking bribes in return for awarding government procurement contracts, with a steep rise in the number of commercial corruption cases in the city this year, according to a local court.

16 Aug 2006 - 12:00am

Bribery watchdog investigates 7,000 cases

Civil servants next target for body which has probed deals worth 1.96b yuan in push to clean up administrative corruption

Nearly 7,000 cases of commercial bribery, involving about 1.96 billion yuan, have been investigated in the year since a special taskforce was formed to tackle the problem, state media reported yesterday.

1 Aug 2006 - 12:00am

Guangdong targets official graft

Guangdong courts convicted more than 100 officials in the first four months of the year during a province-wide clampdown on commercial bribery.

Provincial party paper the Nanfang Daily yesterday quoted authorities as saying the province investigated 605 commercial bribery cases from January to April, 71 of which were serious incidents involving government officials.

15 Jun 2006 - 12:00am

'Enlist media in crackdown'

Anti-graft investigators should aim to crack a few large commercial bribery cases and monitor the media for clues, a deputy secretary of the Communist Party's Central Commission for Discipline Inspection said yesterday.

He Yong told investigators at a meeting on commercial bribery they should pay attention to leads in the media and complaints made by the public.

13 Jun 2006 - 12:00am

SFC gets fining powers over firms, directors

Penalty level in the air but commission chairman pushes for maximum of $10m

The government has agreed in principle to give the Securities and Futures Commission the power to fine companies and directors for breach of listing rules, according to a senior government source.

22 May 2006 - 12:00am

Anti-graft body clamps down on corporate bribes

Campaign sees more than 9,000 dodgy deals reported

Three months after launching a nationwide campaign against corruption, the top anti-graft body said yesterday that it has received leads in more than 9,000 cases of commercial bribery, nearly half of which were already being investigated.

18 May 2006 - 12:00am

Regulator tightens rules for sponsors

Licensees face stiffer tests, penalties in SFC's bid to raise quality of new listings

The 75 sponsors that help companies go public will face tougher capital and experience requirements from January 1 as part of the securities watchdog's campaign to lift the quality of new listings.

11 Apr 2006 - 12:00am

Politicians press SFC for results of probes

Politicians yesterday raised concerns that the securities watchdog has failed to exercise its investigative powers to the full after two incidents involving casino mogul Stanley Ho Hung-sun and Pacific Century Insurance Holdings.

4 Apr 2006 - 12:00am

Corporate supersleuth

GREED IS GOOD for Joseph Quiazon, but not in the sense Gordon Gekko preached in the film Wall Street.

In fact, as a fraud investigator, Mr Quiazon sits on the other side of the fence. His job is to keep tabs on corporate cheats similar to the character played by Michael Douglas in the film.

'I work on one of the oldest issues around - human greed,' Mr Quiazon said.

11 Feb 2006 - 12:00am

What the broker said

The impending price squeeze in the auto sector prompted Core Pacific-Yamaichi to set a 'sell' recommendation for Denway Motors last year, though DBS Vickers Securities maintained a 'buy'.

Core Pacific-Yamaichi's move was influenced by the three rounds of price reductions that the mainland unit initiated because of the supply-demand imbalance.

9 Oct 2005 - 12:00am

Sheng fires parting shot over curbing of watchdog's powers

Outgoing SFC chairman dismisses calls for more scrutiny before being allowed to impose fines on listing rule violators

The Securities and Futures Commission would rather surrender any new powers to fine listing violators than face scrutiny of the penalties, outgoing chairman Andrew Sheng said yesterday.

14 Sep 2005 - 12:00am

Wumart eyes main board move to lift profile

Wumart Stores plans to apply to the mainland's securities watchdog to switch its listing to the main board and hopes to raise 467 million yuan worth of short-term debt.

The trading volume of the H share soared 120 per cent after Wumart announced the proposal, with 302,000 shares changing hands compared with Friday's 137,000.

6 Sep 2005 - 12:00am