02/05/2021
Differences in rights do not necessarily fracture a class
The scheme provided creditors with four options, each provided a better return than in the event of the Company’s liquidation.
Legal, Regulation & Compliance
02/05/2021
Practical issues in FIE registration and reporting under the new FIL regime
Under the new regime, FIEs will only need to report certain information to the PRC Ministry of Commerce via an online reporting system. MOFCOM approval is no longer required for foreign investment.
02/05/2021
Singapore Launches Simplified Insolvency, Restructuring Programme
Two SIP programmes are provided: a Simplified Debt Restructuring Programme for debt restructuring and business rehabilitation; and a Simplified Winding Up Programme for the orderly winding up of non-viable businesses.
02/05/2021
LINE Bank Taiwan Granted Digital Bank Operating Licence
LINE – which has 21 million monthly active users in Taiwan – has also launched a banking service in Thailand in the last year. In 2021, it also plans to expand its banking services into other countries including Japan and Indonesia.
02/05/2021
ASIC cancels financial services and credit licences of Mortgage & General Financial Services Pty Ltd
Under the provisions of the Corporations Act 2001 and National Consumer Credit Protection Act 2009 respectively, ASIC may suspend or cancel an AFSL or an ACL if the licensee fails to meet their obligations.
02/05/2021
APRA releases 2020 Year in Review
The 2020 Year in Review is available on the APRA website at: APRA 2020 Year in Review.
02/05/2021
A Key Player in Malaysia's Biggest-Ever Corruption Scandal Found Sanctuary in Cyprus With Help From a Major London Firm
To solve these problems, Low turned to the sunny eastern Mediterranean island of Cyprus
02/05/2021
Agreement reached for Greater Bay Area wealth management system pilot phase
This plan intends to reduce cross-boundary restrictions for nearly 70 million residents in the Bay Area cities to access wealth products
02/05/2021
Memorandum of Understanding on supervisory cooperation under the Cross-boundary Wealth Management Connect
By signing the Memorandum of Understanding, authorities in the three places aim to establish sound supervisory cooperation arrangements and liaison mechanism.
02/05/2021
Harneys wins three 2020 Deal of the Year Awards from China Business Law Journal
The China Business Law Journal’s awards are presented annually and are based on hundreds of nominations from in-house counsel and other qualified observers, and research conducted by the China Business Law Journal’s editorial team.
02/05/2021
ICICI Bank signs MoU with MUFG Bank, Japan
Japan and India have strong bilateral relations and there are several synergies between two leading banks in Japan and India
02/04/2021
National Australia Bank’s $220 Million Acquisition of neobank 86 400
The KWM team was led by M&A Partner Diana Nicholson , supported by a multidisciplinary team including Partners Caroline Coops and Anne-Marie Neagle and Katherine Forrest , Senior Associate Rebecca Williams and Special Counsel Sean Field.
02/04/2021
‘Very uncomfortable position’: ATO won’t rule out criminal charges in PwC legal stoush
At the heart of the case is whether PwC inappropriately used legal professional privilege (LPP) to withhold facts and evidence from the ATO in completing work for JBS and its subsidiaries.
02/04/2021
UBS AM income fund gets SFC nod
The Hong Kong-domiciled product is authorised for sale to retail investors a year after its launch.
02/04/2021
Indosuez Wealth Management: «Banning Short Selling Would Be a Bad Idea»
Despite diminishing impact from the Reddit rally, regulators worldwide are actively reviewing the situation and Indosuez believes that there is a possibility for a change in rules though it does not foresee or support an outright ban on short selling.
02/04/2021
Hong Kong’s eMPF end-2022 timeline seen as challenging
“It’s a challenging task to get the project done with the tight timeline,” Ka Shi Lau, managing director and chief executive officer of MPF provider BCT Group tells Asia Asset Management.
02/04/2021
Korea Raises Capital Requirements at Private Equity Funds
The amendments will also require private equity funds to record their explanations of complex products to their customers, and to provide customers with a two-day grace period during which they are allowed to back out of the investments.
02/03/2021
Criminal complaint filed against Devere & Partners in Thailand
The firm’s managing director and another company he runs
02/02/2021
Asset Price Correction Could Jeopardise Financial Stability: IMF
The IMF also says liquidity and solvency pressures may resurface in the near future, especially in riskier segments of credit markets and sectors hit hard by the pandemic.
02/02/2021
Philippines' Duterte tightens anti-money laundering rules to avoid `grey list'
“Consistent with its foreign policy, the state shall extend cooperation in transnational investigations and prosecutions of persons involved in money laundering activities wherever committed,”