11/14/2018
Goldman Sachs to be Banned in Malaysia? Mahathir Drops Strong Hint Top U.S. Bank May be Blacklisted After 1MBD Fiasco
Mr Mahathir has also refused to rule out banning Goldman from Malaysia.
Legal, Regulation & Compliance
11/14/2018
Suruga Bank sues former management team for $30m
Japanese lender seeks to reform corporate governance after massive loan scandal
11/13/2018
Singapore central bank, partners create DvP prototypes for tokenised assets
MAS and SGX unveiled news of the prototypes in a joint statement on November 11, less than three months after the five-way partnership was announced on August 24.
11/13/2018
Korea Post Insurance seeks managers for US$150 million Chinese equity mandate
Applications for the China equity mandate will be open until November 16
11/13/2018
Maybank Asset Management and Schroders enter strategic partnership targeting Malaysian wealth market
Collaboration draws on strengths of two powerhouses, to co-develop range of specialist investment solutions
11/13/2018
Astana Financial Services Authority, Astana International Financial Centre Authority and Monetary Authority of Singapore sign Co-operation Agreement to boost fintech ties
The Cooperation Agreement was signed by Mr Mukhtar Bubeyev, Acting Chief Executive Officer of the AFSA, Mr Nurlan Kussainov, Chief Executive Officer of the AIFCA, and Mr Sopnendu Mohanty, Chief FinTech Officer of MAS.
11/13/2018
MAS introduces new FEAT Principles to promote responsible use of AI and data analytics
The Committee is co-chaired by MAS Chief Data Officer, Dr David Hardoon, and Mr Hsieh Fu Hua, Co-Founder and Advisor, PrimePartners.
11/13/2018
Inter-American Development Bank Group and MAS collaborate to promote inclusive financial services
We are happy to welcome participants from 15 countries in LAC to the Singapore FinTech Festival this year.
11/12/2018
How Goldman’s high-flying Italian partner was embroiled in scandal
Andrea Vella was placed on leave by the bank after being caught up in the 1MDB affair
11/12/2018
DOJ indicts Rappler, founder Maria Ressa for tax evasion
Ressa, meanwhile, is being held liable for the infractions as she was the president of the RHC at the time of transaction – following Section 253 of the Tax Code.
11/12/2018
Big relief for Deloitte, PwC, EY and KPMG as govt panel allows permission to operate in India
The government had formed a committee to look into the complaints made by an Indian firm where they argued that the foreign firms were apparently flouting norms and gaining an undue advantage.
11/12/2018
Australian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct
The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.
11/12/2018
Hong Kong Court of Final Appeal clarifies “innocent purpose” defence to insider dealing
Overturning the rulings by the MMT and the Court of Appeal on the applicability of the defence, the CFA held that Mr Yiu and Ms Wong could not rely on the defence as they sold their ATML shares taking advantage of their knowledge that the prices were sign
11/12/2018
Asia Region Funds Passport: What You Need to Know
The five countries currently participating in the scheme are Australia, Japan, South Korea, New Zealand and Thailand.
11/11/2018
Hong Kong takes the first step in regulating managers and distributors of virtual asset funds
This client alert describes the new regime and the action that should be taken by managers and distributors of virtual asset funds in Hong Kong.
11/09/2018
Japan to consider easing M&A rules as regional banks struggle
The plight of regional banks has become a headache for the BOJ, which is drawing criticism for hurting financial institutions' profits by keeping interest rates virtually at zero for years.
11/09/2018
Troubled Suruga Bank set to post huge loss, sue former execs
But the bank inflated the assets of the would-be owners when processing their loan applications.
11/09/2018
Huarong's ex-chairman accused of taking bribes of RMB1.65b
Huarong officials didn't reply to an e-mail seeking comment, and the China Banking and Insurance Regulatory Commission also didn't immediately respond to a fax seeking comment.
11/09/2018
Japan’s Shinsei Bank, Nippon Wealth Form Business Alliance with Blockchain Startup ConsenSys
The alliance between the four entities will focus on exploring the use of ConsenSys’ decentralized applications (DApps) to develop new financial products and services, with Nippon Wealth spearheading a study of blockchain infrastructure and protocol
11/09/2018
China proposes new rules to expand the share repurchase regime for listed companies
The proposals also provide for the list of permitted circumstances for share repurchases to be expanded in the future where specified in new laws and regulations.