07/14/2019
$32 Million Crypto Heist Halts Tokyo Exchange
Four years earlier, Tokyo-based MtGox exchange was shut down after some half a billion dollars in bitcoin disappeared from its virtual vaults.
Legal, Regulation & Compliance
07/14/2019
Gold, jewels, ‘Islamic’ finance: how India’s I Monetary Advisory built a US$365 million Ponzi scheme
Some 50,000 investors have lodged complaints against the Bangalore-based I Monetary Advisory and its founder Mohammed Mansoor Khan
07/12/2019
Regulatory, capital market reforms needed to revive Singapore’s stock market
Such reforms can also reinforce our fund management sector
07/12/2019
Australian banks slapped with tougher capital requirements, pressure on dividends
Australia’s largest lender, Commonwealth Bank of Australia, was lumped with an additional A$1 billion capital requirement last year after it was accused of thousands of breaches of anti-money laundering protocols
07/12/2019
Laid-off expat bankers struggle to find new jobs in Hong Kong
At the same time, the city's famously expensive living costs, including some of the world's highest rents, mean that even senior bankers need to find new jobs fast in order to stay.
07/12/2019
OCBC, police use tech to boost fight against financial crime
Project Poet was launched yesterday by Mr T. Raja Kumar, deputy secretary (international and training) at the Ministry of Home Affairs.
07/12/2019
HSBC blasted by Hong Kong protest leader: Bank urged to apologise after boss praised Chinese regime
He accused HSBC of failing to understand what is really going on in China – and urged it to apologise.
07/12/2019
PNB scam: Enforcement Directorate attaches Mehul Choksi's Dubai assets worth Rs 24.8 cr
The agency has seized three commercial properties in Dubai, valuables, a Mercedes Benz E280 and fixed deposit account controlled by accused Choksi
07/12/2019
Japan Post Vows to Compensate Customers in Insurance Sales Scandal
Insurance sales have been a major source of income for Japan Post, which has been pressured by declining mail volumes.
07/12/2019
ASIC Review Finds Widespread Mis-selling of Consumer Credit Insurance
ASIC also noted widespread mis-selling, where consumers were given non-compliant personal advice to buy unsuitable policies, and sold CCI despite not being eligible to actually make claims.
07/12/2019
APRA sticks to rigid member outcomes deadline
By December 2019 end, APRA expects all trustees to update or be in the process of updating their strategic objectives, business plans and expense management.
07/12/2019
Investors launch legal action against ANZ as bankers of Ponzi scheme
The group says it represents investors in Ross Asset Management and is based on an investigation undertaken by the Financial Markets Authority into how ANZ handled Ross Asset Management's bank accounts prior to its collapse in late 2012.
07/12/2019
Japan tightens regulations on working hours and more
This unspoken arrangement between Japanese companies and their workers eventually became known as Yoshida’s lifelong employment system, and it continues to shape Japan’s working culture.
07/12/2019
DLA Piper advises IMF Bentham on new USD500 million fund
Fund 5 has been established as a Cayman Islands exempted limited partnership, with IMF Bentham and its related entities providing investment management and advisory services.
07/12/2019
TAIWAN: Explanatory ruling issued on definition of beneficial owner for treaty purposes
The explanatory ruling introduces a favorable self-declaration mechanism to mitigate the compliance costs of FINIs investing in Taiwan’s securities market and seeking DTA benefits.
07/11/2019
Life in the era of fintech: The evolving story of ASEAN’s banks
Fintech startups are disrupting traditional banking across the globe. How are ASEAN’s banks responding to this crisis of obsolescence?
07/11/2019
Bank of Singapore’s Hong Kong CEO on Developing a Greater China Proposition
Tan has been with Bank of Singapore since 2010 and since January 2018 leads the overall strategy to drive the bank’s presence in Greater China and North Asia, with a strategic focus on the Guangdong-Hong Kong-Macau Greater Bay Area.
07/11/2019
Australian watchdog to toughen licensing process in financial services
Applicants, who aim to provide certain financial services or operate in specific circumstances, will also come under the purview of new regulations.
07/11/2019
Former financial adviser jailed
ASIC said losses to Gibbs' clients came to a total of approximately $4.88 million
07/11/2019
VP Bank Eyes China Market Through Hywin Wealth
VP Bank Group offers comprehensive wealth management solutions for private individuals and intermediaries.