Individual traders at Citigroup, Barclays, RBS, JP Morgan and MUFG exchanged sensitive information and coordinated spot FX trading strategies through online chatrooms.
Charges were laid against Cho Kwai Chee, a former director of Convoy Global Holdings, one of the companies said to be at the centre of the so-called 'enigma network'.
The SFC has found brokers that are failing to comply with the expected standards on client facilitation, and plans to take action against both individuals and firms.
Hong Kong and Dutch regulators have set out a framework for the exchange of information and mutual recognition of funds registered in both jurisdictions.
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