For the year ended 31 December 2021
| (1) Enforcement Cases and Investigations |
|
Twelve months ended
31/12/2021 |
Twelve months ended
31/12/2020 |
Twelve months ended
31/12/2019 |
|
MB |
GEM |
Total |
MB |
GEM |
Total |
MB |
GEM |
Total |
| Cases |
131
(109)
|
33
(26)
|
164
(135)
|
107
(70)
|
21
(14)
|
128
(84)
|
88
(64)
|
24
(21)
|
112
(85)
|
| Investigations commenced |
43
(26)
|
13
(7)
|
56
(33)
|
56
(26)
|
12
(6)
|
68
(32)
|
-- |
-- |
-- |
| Investigations completed |
41
(26)
|
7
(7)
|
48
(33)
|
25
(19)
|
9
(5)
|
34
(24)
|
-- |
-- |
-- |
| |
The average time for completion of an investigation for the year ended 31 December 2021 was 10.5 months.
In carrying out the Exchange’s regulatory functions, during the year ended 31 December 2021, the Listing Division has made 98 referrals to other law enforcement agencies and regulators. |
| |
| Notes: |
| (1) |
The figures in brackets represent the figures for the six-month period ended 30 June of the relevant year. |
| (2) |
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.
|
| (3) |
An investigation is completed when the regulatory action to be taken is decided. |
| (4) |
The statistics for investigations “commenced” and “completed” during the year are newly published from 2020, no prior figures are disclosed. |
| |
|
|
| |
|
| (2) Enforcement Actions and Sanctions |
|
| |
|
|
Twelve months ended
31/12/2021 |
Twelve months ended
31/12/2020 |
Twelve months ended
31/12/2019 |
| Disciplinary actions commenced |
28
(9)
|
20
(8)
|
21
(9)
|
| Disciplinary actions concluded |
35
(22)
|
13
(9)
|
13
(3)
|
| Sanctions/Directions |
|
|
Issuers |
Individuals |
Issuers |
Individuals |
Issuers |
Individuals |
| Prejudice statements |
-- |
56
(36)
|
-- |
8
(7)
|
-- |
5
(0)
|
| Public censures |
20
(12)
|
84
(56)
|
6
(3)
|
20
(15)
|
7
(3)
|
42
(15)
|
| Public statements involving criticism |
5
(2)
|
42
(30)
|
2
(1)
|
27
(21)
|
1
(1)
|
5
(0)
|
| Private reprimands |
0
(0)
|
12
(6)
|
0
(0)
|
4
(3)
|
0
(0)
|
15
(0)
|
| Internal control review |
6
(4)
|
-- |
2
(0)
|
-- |
2
(0)
|
-- |
| Appointment of compliance adviser |
2
(1)
|
-- |
1
(0)
|
-- |
3
(1)
|
-- |
| Director training |
-- |
120
(75)
|
-- |
13
(2)
|
-- |
52
(15)
|
| Regulatory letters issued by Enforcement |
10
(6)
|
48
(19)
|
10
(5)
|
12
(8)
|
10
(5)
|
22
(10)
|
| Notes: |
| (1) |
The figures in brackets represent the figures for the six-month period ended 30 June of the relevant year. |
| (2) |
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. |
| (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 a Prejudice statement. |