10/24/2018
Blue Sky LIC gets a new suitor
Geoff Wilson has thrown his hat in the ring for the troubled Blue Sky LIC which last week reached an agreement to appoint a Pinnacle affiliate as its new manager.
Legal, Regulation & Compliance
10/24/2018
Prudential’s Eastspring obtains licence to sell funds in China
The company has registered the private fund management unit with the Asset Management Association of China (AMAC)
10/24/2018
UOB to support Shandong-based firms' Southeast Asian expansion with $600m funding
UOB and Shanghai Qilu will also promote bilateral trade and investment, knowledge sharing, and talent development between Singapore and Shandong.
10/23/2018
Malaysia’s RHB Bank bags approval to buy Vietnam Securities Corp
The proposed acquisition must be completed in 90 days from the date of approval.
10/23/2018
Australia’s big bank shake-up
Australia’s banks have had things easy for a long time, but, writes Brian Caplen, this may not continue.
10/23/2018
Thai regulator in wealth management initiative
Thailand’s Securities and Exchange Commission wants to extend the basic tools and best practices in HNW wealth management to all Thai investors.
10/23/2018
Massive tax evasion found in Ferrari, other luxury car resales in Japan
According to the sources, tax authorities including the Tokyo Regional Taxation Bureau and the Kantoshinetsu Regional Taxation Bureau penalised about 10 companies for intentionally hiding profits, or failing to report profits, from the sale of imported ca
10/22/2018
UBS warns staff over China travel after banker held in Beijing: source
The purpose of the meeting with authorities is not clear, but the bank has asked others in its China wealth management team to review their travel plans carefully.
10/22/2018
Australia Plans Tougher Prison Sentences for White-Collar Crime
The government has already taken steps to boost the powers of the industry regulator, the Australian Securities and Investments Commission, providing A$70 million in extra funding to enhance its enforcement capabilities.
10/22/2018
Japan's Biggest Bank CEO Joins Exodus From Saudi Forum
Pulls out after Saudi Arabia acknowledges dissident’s killing
10/22/2018
Post Royal Commission change is all talk: Shipton
Due process is important, but it must not be manipulated to disrupt the achievement of fair, appropriate and honest outcomes.
10/22/2018
Chief economist update: China's slowing fast
While retail spending continues to hold up, up by 9.2% in the year to September from 9% in the previous month, other economic data are pointing to further weakness.
10/22/2018
Australian retirement system weakens
Now in its 10th year, the MMGPI measures which countries are the most (and the least) prepared for tomorrow's ageing world; delivering on the twin goals of providing adequate financial security for retirees that is also economically sustainable.
10/22/2018
Revised HKMA Guidelines on AML/CFT to Take Effect from November
The amendments to the AML/CFT Guidelines aim to better align them with the latest international requirements, such as FATF recommendations to include a new category of international organisation PEPs (politically exposed persons).
10/22/2018
Japan FSA Updates Financial Sector Cyber Policy
The FSA’s policy document acknowledges the work by the G7 Finance Ministers and Central Banks on boosting financial system cyber resilience.
10/22/2018
Ogier partner makes prestigious Asian "Top 40 Under 40" list
David is one of ten lawyers from Hong Kong to make the list.
10/19/2018
NAB boss regrets customers' loss of trust
National Australia Bank chief executive Andrew Thorburn says his bank hasn't had the care and respect for customers it should have.
10/19/2018
Australian regulator says bigger stick needed to clean up financial sector
“Now is the right time to ask whether ASIC should be resourced differently to meet the community’s expectations and the unique challenges of Australia’s financial system,”
10/18/2018
Investors panic as Heera Group chairperson is arrested in India
Heera Group was offering 35% returns on investment, investors say
10/18/2018
Land Bank of Taiwan’s Singapore Branch Selects Wolters Kluwer’s OneSumX for Regulatory Reporting
The scope of new proposals in the Monetary Authority of Singapore’s overhaul of the MAS 610 reporting regime for banks has been far reaching with banks now preparing to meet the new obligations.