11/19/2018
Baker in largest non-life insurance acquisition
The transaction will enable Tokio Marine Nichido to become the second-largest motor insurance company and third-largest property and casualty insurance company in Thailand.
Legal, Regulation & Compliance
11/19/2018
Hong Kong SFC commences thematic review of risk governance and oversight frameworks, including assessment of risk management MICs
The review comprises three work streams focusing on the underlying risks of LCs’ remote booking models, operational risk and data risk.
11/19/2018
Super fund apologises for admin error
The fund has individually contacted most of the 100 members whose balances were higher than they should have been to personally address their circumstances, and a few members' current contact details are being located
11/19/2018
Bank of China Manila, Equicom Group explore possible cooperation, collaboration
The signing ceremony was held on Friday at the office of Bank of China Manila.
11/19/2018
HKICPA Orders Deloitte and an Accountant to Pay Fines
According to Hong Kong-based activist investor David Webb, the listed company is China Bio Cassava, now known as Cloud Investment Holdings Limited (8129).
11/18/2018
Bank bosses to face the music at inquiry
Bank bosses and head regulators will be questioned about policy matters at the financial services royal commission's final hearing.
11/16/2018
Frydenberg splashes $50m to pursue financial services crime
The CDPP is set to benefit most from the Treasurer's latest move in strengthening the action against misconduct in financial services, with $41.6 million to flow into its coffers over the next eight years.
11/16/2018
AFCA creates small businesses ombudsman role
"This change means that AFCA is now able to consider complaints from over 98% of small businesses."
11/16/2018
Philippines Enhances Fair Value Pricing of Financial Instruments
The new guidelines tweak rules on marking to market to align with international standards, promote transparency and confidence in the markets, and encourage active market trading.
11/16/2018
Norwich Pharmacal relief and the Confidential Information Disclosure Law, 2016
The judgment also provides welcomed guidance on the relevance of the Confidential Information Disclosure Law
11/16/2018
Australian businesses eager to avoid fintech legal risks, Baker McKenzie finds
The study found that the sector is more confident now in the transformative powers of AI than in 2016, Baker McKenzie said.
11/15/2018
Traydstream’s paperless trade solution to go live with Asian bank
Having closed its pre-series-A financing round, Traydstream is set to release new features and “grow exponentially” over the next few years, the firm’s CEO Sameer Sehgal tells GTR.
11/15/2018
More foreign AMs get onshore licences
Hong Kong-based Zeal Asset Management and New York-headquartered Two Sigma Investments have obtained IM WFOE licences.
11/15/2018
Regulators say they will muscle up against banks after royal commission highlights failings
A lot of APRA focus over recent years has been on making sure entities are solvent, have the right liquidity," he told a lunch hosted by financial services industry body FINSIA.
11/15/2018
‘Complex product’ regulations could limit HK distribution
Some distributors in Hong Kong may avoid ‘complex products’ because of the added risk of being non-compliant
11/14/2018
Singapore-based US banks beef up cybersecurity roles
They have the best teams, with different specialisations around cyber security technologies, both on defence and intelligence,” a Singapore-based cyber security expert told efinancialcareers.
11/14/2018
FPA fines Henderson $50k
The FPA is committed to standing with Australians for a better financial future and enforcement of the FPA Code is an important aspect of that commitment."
11/14/2018
Japan’s Banking Giant MUFG Signs MoU to Develop Ripple-Based Remittances to Brazil
“The new payment system [...] will assist the banks as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution between Japan and Brazil,”
11/14/2018
Innovate Finance and Singapore FinTech Association sign MoU
This agreement is representative of Innovate Finance’s continued support for both business and regulatory alignment between international FinTech Hubs.
11/14/2018
UAE, Singapore among eight exemptions in IoM disclosure change
Singapore and the UAE, alongside Argentina, South Africa, the EU and Qatar, Hong Kong and the UK are exempt by the Isle of Man from providing Key Information Documents (Kids) to clients that would fully disclose all fees and charges directly related to in