07/13/2023
UBS Suspends Plans for New China Fund Unit
As of the end of 2022, Beijing-headquartered ICBC Credit Suisse had 1.72 trillion yuan ($240 billion) in assets under management with close to 2.7 billion yuan in net profit last year.
Legal, Regulation & Compliance
07/13/2023
UBS Suspends Plans for New China Fund Unit
As of the end of 2022, Beijing-headquartered ICBC Credit Suisse had 1.72 trillion yuan ($240 billion) in assets under management with close to 2.7 billion yuan in net profit last year.
07/13/2023
Maybank: Monetary policy tightening in Philippines is over
During a year-long tightening cycle, the BSP raised key policy rates by 425 basis points since it started its interest rate liftoff in May last year to cool inflation and stabilize the peso
07/13/2023
Monetary Authority of Singapore and National Bank of Cambodia set up Financial Transparency Corridor to support SMEs
In March, Singapore and Cambodia collaborated on cross-border sharing of individual consumer credit profiles that makes it easier for citizens from both countries to access financial services in their country of residence.
07/12/2023
Harneys advises Keep Inc. on its Hong Kong IPO
It offers personalised fitness programs, sports apparel and devices, health food, and other wellbeing services.
07/10/2023
HSF's APAC Monthly Private Wealth Legal Developments for June 2023 Released
HSF's monthly update serves as a valuable resource for staying up to date with the latest legal changes and their impact on the private wealth sector.
07/10/2023
Hong Kong Implements Risk-Based Capital Regime for Insurance Industry with Passage of Amendment Bill
The implementation of the RBC regime is expected to commence in 2024.
07/06/2023
Appleby's Hong Kong office advises china Everbright water Limited on its issuance and registration of up to RMB 5 Billion medium term notes
The targeted subscribers for the Medium-term Notes shall be institutional investors in the national inter-bank bond market of Mainland China.
07/06/2023
ASIC acts to ensure better banking outcomes for Indigenous consumers
The review found that many Indigenous consumers identified in the data were in high fee accounts paying high fees, despite being eligible for a low-fee ‘basic’ account.
07/05/2023
In Thailand, Stark fiasco damages investor confidence, regulators criticised
“The investigation should have begun way earlier. I understand that the SEC [Securities and Exchange Commission Thailand] was in a leadership transition phase, but this is not a reason for the lack of actions,”
07/04/2023
ING Sues Chinese Copper Trader
Xi’an-based Maike and Triway had banked with ICBC and ING
07/04/2023
India regulator tightens disclosure rules for foreign portfolio investors
Some investors, including government and government-related entities, pension funds, public retail funds and certain listed exchange-traded funds, are exempted from the additional disclosure rules.
07/04/2023
APRA fines BNK for failing to meet data reporting requirements
Access to accurate and timely data is critical for APRA to effectively monitor the safety and stability of Australia’s banking, insurance and superannuation systems,” Ms McCarthy Hockey said.
07/04/2023
ASIC permanently bans David Sutton and cancels McFaddens Securities’ licence
McFaddens and Mr Sutton and have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
07/03/2023
Singapore central bank proposes code of conduct for ESG ratings and data providers
The central bank is seeking public feedback on the proposal until August 22.
06/30/2023
BOJ's Ueda: See good reason to shift policy if inflation re-accelerates into 2024
While headline inflation was above 3 per cent, the BOJ was keeping monetary policy easy because underlying inflation remained below the central bank’s 2 per cent target, Ueda said.
06/30/2023
APRA takes action against Medibank Private in relation to cyber incident
“In taking this action, APRA seeks to ensure that Medibank expedites its remediation program,”
06/30/2023
MAS Proposes Code of Conduct for Providers of ESG Ratings and ESG Data Products
The proposed code of conduct establishes minimum industry standards of transparency in methodologies and data sources, governance, and management of conflicts of interest.
06/28/2023
IQ-EQ acquires ComplianceAsia and Lymon Pte Ltd
These transactions are incredibly exciting for us as it not only significantly expands our existing regulatory compliance business here in Asia Pacific
06/27/2023
Carey Olsen wins China Business Law Award for fintech and blockchain
In determining the winners, China Business Law Journal's editorial team carefully considered nominations across a number of other factors, such as each firm's notable deals, cases and other achievements over the past year.