01/02/2019
China’s Securities Firms Under Pressure to Consolidate
The transaction has not yet been finalised and is still subject to regulatory approval.
Legal, Regulation & Compliance
12/31/2018
Hong Kong SFC fines Ardon Maroon Fund Management $800,000
The SFC found that Ardon Maroon gave instructions to a brokerage to execute a cross trade for 15 million shares of a listed company on the Stock Exchange of Hong Kong on 8 August 2014, which resulted in the AM Fund conducting a wash trade.
12/31/2018
Bitcoin Trader Charged in Philippines Murder
Tomi Masters was a small-town gal swept off her feet by a California cryptocurrency mogul. Now she’s dead and he and a friend are charged.
12/28/2018
China central bank pledges prudent monetary policy and a stable yuan
Market analysts expect the PBOC to keep policy relatively loose to support China's slowing economy as it deals with trade frictions with the United States and pressure from a multi-year deleveraging campaign.
12/27/2018
Blogger Leong Sze Hian files defence and countersuit against PM Lee
PM Lee initiated legal action against Mr Leong last month, after he shared on his Facebook page part of the headline of the article from Malaysian news portal The Coverage, with a link to the full article.
12/26/2018
Thailand becomes 1st country in Southeast Asia to legalize medical marijuana
The changes, which become law when published in the Royal Gazette, legalize the production, import, export, possession and use of marijuana and kratom products for medical purposes.
12/26/2018
Expat retirees in Thailand may be forced into compulsory private health insurance
With the exception of Bangkok, Thailand’s other major cities and resort islands have been home to a high number of Western expat retirees, some of whom have been settled in the country for several decades.
12/21/2018
HKMA set to turn up the heat on bank culture in 2019
The Supervisory Measures include requiring AIs to complete and return self-assessment forms regarding their culture to the HKMA, and undertaking on-site reviews focused specifically on culture.
12/20/2018
Singapore’s MAS bans Tim Leissner for Life
This comes after an admission to criminal charges brought against the former employee by US authorities
12/20/2018
Singapore central bank bans former Goldman Sachs' banker for life
This follows Mr Leissner’s admission to criminal charges brought against him by the United States Department of Justice.
12/20/2018
Third Canadian detained in China amid Huawei case
Asked why the government had not done more to have the Canadians released, he said, “Political posturing or political statements aren’t necessarily going to contribute... They might actually hinder Canadians’ release.
12/20/2018
Citi to tighten rules for currency funds after Asia debacle
Bank tells hedge fund clients it is reviewing rules after facing up to $180m in losses
12/20/2018
ASIC suspends registration of Sydney liquidator
The orders were granted on the application of various partners from Jirsch Sutherland, the practice at which Ms Young was most recently employed, who have since been appointed as the external administrators to 22 companies where Ms Young had been the sole
12/20/2018
ASIC reviews allocations practices in equity raising transactions
The licensees appointed to manage these transactions for the issuer must appropriately manage conflicts of interest and confidential information about transactions.
12/20/2018
ASIC obtains freezing orders against Berndale Capital Securities and Stavro D’Amore
Berndale and ASIC appeared before Justice O’Callaghan in the Federal Court in Melbourne on 19 December 2018, following ASIC’s initial application and interim orders made on 5 December 2018.
12/20/2018
ANZ sees dealer group sale as a done deal
He said that in the past three years, ANZ had changed its business more than at any time since 1951 and that it had announced the sale and exit of more than 20 businesses.
12/20/2018
High-flying investment bankers, reclusive billionaires, and 'The Wolf of Wall Street': a guide to the major players in Malaysia's 1MDB scandal
A Malaysia Development Berhad billboard at the flagship Tun Razak Exchange development in Kuala Lumpur.
12/20/2018
Massive first strike on CEO pay at NAB
The blow comes just before the CEO is about to take extended leave to recharge his batteries, and shows just how much the Royal Commission has empowered investors to hold banks up to greater scrutiny.
12/20/2018
Value Partners’ flagship fund gets okay for China distribution
The Value Partners Classic Fund, which is focused on Greater China, was launched in Hong Kong in 1993 and has approximately US$1.04 billion of total assets under management currently.
12/20/2018
With eye on China, Germany tightens foreign investment rules
Under the new rules, which come into effect immediately, Berlin can intervene on grounds of public interest if a non-European investor buys a 10 percent stake in a company, sharply reducing the threshold from 25 percent.