For the six months ended 30 June 2023
| (1) Enforcement Cases and Investigations |
|
Six months ended
30/6/2023 |
Six months ended
30/6/2022 |
Six months ended
30/6/2021 |
|
MB |
GEM |
Total |
MB |
GEM |
Total |
MB |
GEM |
Total |
| Cases |
75 |
19 |
94 |
103 |
14 |
117 |
109 |
26 |
135 |
| Investigations commenced |
11 |
3 |
14 |
14 |
1 |
15 |
26 |
7 |
33 |
| Investigations completed |
15 |
2 |
17 |
27 |
9 |
36 |
26 |
7 |
33 |
| |
The average time for completion of an investigation for the six months ended 30 June 2023 was 12.8 months.
In carrying out the Exchange’s regulatory functions, during the six months ended 30 June 2023, the Listing Division has made 22 referrals to other law enforcement agencies and regulators. |
| |
| Notes: |
| (1) |
The Cases figures represent cases handled by Enforcement during the reporting period, including those carried over to the relevant period and those not concluded at the end of the relevant period. |
| (2) |
An investigation is completed when the regulatory action to be taken is decided.
|
| |
|
|
| (2) Enforcement Actions and Sanctions |
|
| |
|
|
Six months ended
30/6/2023 |
Six months ended
30/6/2022 |
Six months ended
30/6/2021 |
| Disciplinary actions commenced |
16 |
16 |
9 |
| Disciplinary actions concluded |
20 |
17 |
22 |
| Sanctions/Directions |
|
|
Issuers |
Individuals |
Issuers |
Individuals |
Issuers |
Individuals |
Unsuitability statements
|
-- |
17 |
-- |
-- |
-- |
-- |
| Prejudice statements |
-- |
14 |
-- |
17 |
-- |
36 |
| Public censures |
11 |
25 |
9 |
34 |
12 |
56 |
| Public statements involving criticism |
-- |
14 |
4 |
45 |
2 |
30 |
| Private reprimands |
1 |
6 |
1 |
22 |
0 |
6 |
| Internal control review |
2 |
-- |
3 |
-- |
4 |
-- |
| Appointment of compliance adviser |
-- |
-- |
1 |
-- |
1 |
-- |
| Director training |
-- |
44 |
-- |
94 |
-- |
75 |
| Regulatory letters issued by Enforcement |
7 |
70 |
11 |
48 |
6 |
19 |
| Notes: |
| (1) |
A disciplinary action is concluded after the hearing/final review and: (i) where a public sanction is imposed, its outcome is published; or (ii) where no public sanction is imposed, the decision letter is issued. |
| (2) |
"Unsuitability statement" is a statement made under Chapter 2A (GEM: Chapter 3) that the director is unsuitable to occupy a position as director or within senior management of a named listed issuer or any of its subsidiaries.
|
| (3) |
“Prejudice statements” include sanctions in which, in addition to a public censure, the Exchange makes a statement of opinion under Chapter 2A (GEM: Chapter 3) that the retention of office by that director is/would have been prejudicial to the interests of investors. |
| (4) |
The figures for “Public censures” exclude those individuals subject to an Unsuitability statement or a Prejudice statement. |