05/25/2020
India’s Money Laundering Agency Finds Proceeds in JPMorgan Case
The Amrapali investigation emerged after a series of petitions by home buyers frustrated over unfinished housing projects.
Legal, Regulation & Compliance
05/24/2020
World Bank calls on Indonesia to take measures to curb debt
The World Bank is among the agencies that Indonesia is exploring as possible funding options, others include the Asian Development Bank and Asian Infrastructure Investment Bank.
05/22/2020
FASEA extension en route
Senator Hume saw it differently though, and called on Jones to "stop playing games", and allow the FASEA extension bill to pass as non-controversial business in the next sitting.
05/22/2020
Banks target Luckin Coffee ex-billionaire's family assets to recoup $709m in losses
Lu said in a statement on Wednesday that he's "deeply disappointed" Nasdaq is moving to delist the shares before Luckin releases final results of an internal probe into its accounting.
05/21/2020
Vietnam finance ministry forms working group for policies on digital currencies
Having a regulation on digital currencies and virtual assets can help bring financial services to people without access to a bank.
05/21/2020
Cambodia regulator eases derivatives rules for brokers, report says
The report did not specify the exact changes, and spokespersons for the SECC did not immediately respond to questions from Asia Asset Management.
05/21/2020
Regulators to boost cross-border private fund flows
Sector posted steady growth during the first quarter of 2020 despite Covid-19
05/21/2020
UK's CISI partners with Philippines in effort to combat money laundering
All individuals who work with money, directly or indirectly, are required to evidence their compliance with AML/CTF training and assessment annually.
05/21/2020
Westpac dumps EY for risk review
The bank used the opportunity to trumpet the appointment of 25-year Westpac veteran Les Vance as the bank’s new group executive financial crime, compliance and conduct.
05/21/2020
Stepson of Malaysian ex-PM Najib could testify against him in 1MDB trial -prosecutors
Riza’s lawyer did not immediately respond to a request for comment.
05/21/2020
Shadow lenders get India central bank’s exceptional lifeline
The move follows a lukewarm response to previous attempts to steady these lenders, which have been reeling under a cash crunch for almost two years.
05/21/2020
New requirements to lodge information on Singapore's register of registrable controllers deferred to July 2020: ACRA
July 2020: RORC now required to be lodged with ACRA with limited access rights
05/20/2020
SFC Fines Southwest Securities for AML/CFT Failures
In some cases where third party deposits were identified by SSBL, the clients' relationship with the third party depositors (eg, friend) and the reason for these deposits (eg, busy at work) provided by the clients failed to explain the rationale for
05/20/2020
Competition Commission Signs Memorandum of Understanding with Securities and Futures Commission to Strengthen Cooperation
This is the CC's first MoU signed with a financial regulator, and represents a milestone in its endeavours to adopt a joined-up approach with relevant sector regulators in promoting competition and combating anticompetitive practices.
05/20/2020
Malaysia’s EPF okays 1.66 billion ringgit of early withdrawals by cash-strapped members
The EPF has approved early withdrawals by 3.51 million or 46.2% of its members under the i-Lestari scheme.
05/20/2020
Ant Financial forms partnership with FinTech Wave Money
As part of this partnership, Ant Group plans to invest USD73.5 million into Wave Money to become a substantial minority stakeholder, alongside the aforementioned existing contributors.
05/20/2020
Bridgestone South Africa secures US$21.7 million loan with JBIC
Development bank aims to boost Japan’s competitiveness, connectivity with Africa
05/20/2020
Australia approaches fiscal cliff: UBS
"The total cumulative fall over the seven weeks since March 14 is now 7.3%,
05/20/2020
Regulator Demands Access to Credit Suisse Text Messages
The investigators want to know whether the managers used an encrypted-messaging system to keep the content secret
05/19/2020
South Korea's SEMA seeks advisers to help set up 500 billion won multi-asset strategy
SEMA’s equity portfolio posted a return of 11% last year, recovering from a 27.6% loss in 2018 and boosting its overall investment return to 8.15% from 1.66%.