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Regulators have been trying to clamp down on accounting malpractices in Hong Kong.Reuters

Hong Kong's Securities and Futures Commission (SFC) has established an independent taskforce to uncover corruption among listed companies as it cracks down on corporate fraud.

This latest move by the SFC mirrors the efforts of the Securities and Exchange Commission (SEC) in the United States.

IBTimes UK decided to look into a host of corporate scandals that prompted Hong Kong's regulator to step up its campaign against corruption.

Name of Company: China Metal Recycling Holdings

Company Type: Recycler of metal.

Scandal Type: China Metal Recycling, described as China's biggest recycler of metal was accused by the SFC of exaggerating its financial position when it listed in Hong Kong in 2009. The company's shares were suspended in January 2013 after concerns were raised about accounting issues.

Name of Company: Chaoda Modern Agriculture

Company Type: Chinese fruit and vegetable producer.

Scandal Type: In 2011 it was accused by the website Anonymous Analytics of engaging in 11 years of deceit and corporate fraud. The hacktivist group then accused regulators in Hong Kong of doing little to tackle the alleged corruption at the company.

Name of Company: Sino-Forest Corporation

Company Type: Forestry plantation company.

Scandal Type: The business which is head quartered in Hong Kong was found to have engaged in massive fraud. In June 2011 a short seller alleged the company was a Ponzi scheme and its shares plummeted. It transpired that Sino-Forest Corporation owned less timber in China than it claimed. In March 2013 a judge in Ontario, Canada approved a $117m (€85.6m, £71.5m) settlement against Ernest & Young, the auditors of the company by shareholders in Sino-Forest Corporation that accused it of failing to do its job.