07/04/2019
ASIC to offer AFSL relief to overseas firms
ASIC said the proposals reflect industry feedback that "there is a need for Australian professional investors to access funds management financial services providers outside Australia"
Legal, Regulation & Compliance
07/04/2019
BOJ Publishes Consultation on JPY Interest Rate Benchmarks
The Committee has discussed two approached for the per permanent discontinuation of JPY LIBOR.
07/04/2019
Ex-Goldman exec banned for life in HK
For involvement in the 1MDB scandal, Tim Leissner also has a lifetime prohibition on entering Singapore’s financial industry.
07/04/2019
China plans early end to foreign ownership limits
The abolition of ownership restrictions for foreign investors in the financial sector will happen in 2020, a year earlier than scheduled, says China premier Li Keqiang.
07/03/2019
Retirement age increase inevitable, but more should be done
An incremental three-month and four-month rise will be added to the retirement age for men and women, respectively, each successive year.
07/03/2019
Bank Indonesia looking for right time to cut rates
Governor Perry Warjiyo has said a rate cut is just a matter of timing and officials are watching the economic data closely.
07/03/2019
Australia's top lenders decline to pass on central bank rate cut in full to customers
As expected, the Reserve Bank of Australia lowered the policy rate by 25 basis points
07/03/2019
Important changes to China's individual income tax law
Significantly, the new regulations also affect foreign workers based in China.
07/03/2019
State Street cops $125m penalty
The overcharges included a secret markup that State Street attached to the cost of sending secured financial messages through the Society of Worldwide Interbank Financial Telecommunication network.
07/03/2019
China to Remove Foreign Ownership Limits a Year Early
China began allowing foreign firms to apply for up to 51 percent ownership in financial sector joint ventures, a controlling stake, which already represented efforts to open up.
07/03/2019
Singapore to issue up to five digital banking licences
"The move announced today extends digital bank licences to non-bank players," MAS says.
07/02/2019
UBS Rejects Accusations From Papua New Guinea
UBS welcomed the move by the new PM, the bank said in a statement.
07/02/2019
Maples Group Selected to Support Groundbreaking Indo-Japan Fund
The unique strategic intent of the Fund is to combine the core strengths of both countries to provide large investors with access to source ideation and technology, as well as to provide a platform for collaboration and strategic investment in start-ups.
07/02/2019
Atlas Wealth Management expands to Dubai with DIFC office
"The new office in Dubai is a testament to our commitment to the Australian diaspora when it comes to providing them world class financial advice" said James Ridley, managing director, APAC.
07/02/2019
NAB receives approval for Japanese Securities Registration
NAB Executive General Manager Markets Drew Bradford said receiving the registration was an important step forward for NAB’s presence in what is a critically important market for NAB in the region.
07/02/2019
Hong Kong Welcomes FATF ‘Overall Compliant’ Result
Hong Kong has strong framework and effective system for combating money laundering and terrorist financing
07/01/2019
SANNE secures new bookkeeping licence in China
The new licence will enhance our already well-established Asian network and market expertise, whilst complementing our existing fund offering in China.
07/01/2019
ASIC approves an updated Banking Code of Practice
ASIC is assessing those changes in two stages – we have approved the first stage of changes and are yet to decide on the second stage of changes.
07/01/2019
India slips to 74th place on Swiss money list; UK remains on top
By comparison, the top-ranked UK accounted for more than 26 per cent of the total foreign funds parked with Swiss banks at the end of 2018.
07/01/2019
Baker + McKenzie Add 81 New Partners – Bring Global Total to 1550
This year women make up almost 40% of the newly promoted cohort of 81 partners; a market-leading number for any law firm.