11/18/2019
NAB faces ‘significant’ penalties for money laundering breaches
The bank said it self-reported “a number of issues” to the financial intelligence regulator and peer authorities after discovering the problems.
Legal, Regulation & Compliance
11/17/2019
Appleby Advises China Automation Group ON HKD 391,998,649 Scheme Of Arrangement
The privatisation was approved at the meeting of independent shareholders on September 23, 2019 with the Scheme becoming effective on October 24, 2019.
11/17/2019
UBS fined $8.2 million by Singapore for misconduct by advisers
The enforcement action followed UBS’ reporting of the misconduct to MAS, and MAS’ subsequent investigations.
11/17/2019
Regulator wants Singapore to become hub for digital banks
Bryan TanRavi Menon, managing director of the Monetary Authority of Singapore (MAS), said new "players" would gain access to Singapore's own banking market to help them grow.
11/17/2019
China's central bank injects funds into banking system again
The People's Bank of China offered 200 billion yuan (S$38.9 billion) of one-year loans to banks.
11/15/2019
DFSA extends MoU with Chinese regulatory body CBIRC
The initial MoU, signed in Beijing on 24 September 2007, facilitated co-operation and information sharing between banking supervisors.
11/15/2019
State Bank of Pakistan fines HBL over non-compliance of regulatory requirements
This is not the first time the central bank has fined HBL.
11/15/2019
Strong endorsements for Carey Olsen's Bermuda, BVI and Cayman Islands practices in Legal 500
Lawyers and teams from across Carey Olsen's Bermuda, British Virgin Islands (BVI) and Cayman Islands offices have been recognised in the 2020 edition of Legal 500 Caribbean. In total, 24 of the firm's lawyers have featured in this year's ra
11/15/2019
As recession takes hold, Hong Kong banks worry about risk of easier mortgage rules
But as the protests take a heavy toll on the special administrative region's economy, banks fear a deepening recession, unemployment and bankruptcies, which could make it hard for borrowers to pay them back, two bankers said.
11/15/2019
Hong Kong protests prompt Citigroup to warn employees to avoid 'dangerous situations' after banker arrested
An officer accuses him in Cantonese of illegal assembly and says he is being arrested. The man tries to walk away and eventually to run away.
11/14/2019
Japanese giant acquires Hunt, grows multifamily banking business
The commercial real estate lender offers the full range of Fannie Mae, Freddie Mac, and FHA financing, as well as proprietary bridge, term, and subordinated products.
11/14/2019
Philippines National Security Adviser warns of threat Crypto presents to CFT
Terrorist entities using the threat of or carrying out of kidnapping to extract ransom fees or to raise funds through extortion allows organisation to fund themselves or facilitate terrorist attacks.
11/14/2019
SFC fines UBS for Overcharging Clients and related Internal Control Failures
UBS has undertaken action to compensate clients that have been affected by instances of overcharging, with the bank repaying the full amount that has been overcharged with interest, totalling an approximate value of HKD200 million.
11/13/2019
Fearing capital flight, Hong Kong eyes tax breaks for the rich
Territory's $1.5 trillion wealth industry lobbies for help amid the protests
11/13/2019
New Zealand: Tax evasion and money laundering linked to freezing of 15 Gisborne properties and $10m
He boasted to an undercover police officer about owning a large number of properties in New Zealand
11/12/2019
Despite liquidity Chinese issuers face challenges
Easing measures have helped further grow China’s onshore bond market but some issuers may still not get financing
11/12/2019
MAS to Establish Singapore as a Leading Centre for Green Finance
This will help to support the Singapore financial centre in promoting environmentally sustainable projects and mitigating climate change risks in Singapore and the region.
11/12/2019
Canadian Securities Regulators and MAS Strengthen Cooperation in FinTech
The agreement sets out the framework of collaboration between the CSA members and MAS.
11/12/2019
MAS, Deloitte, S&P Launch Fintech Investment Research Platform
This limits their view of all the companies in which they might deploy capital.
11/11/2019
British-Era Indian Accounts Lying Dormant in Swiss Bank, No Claim For Crores
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on AEOI .