05/04/2018
NAB Retreats From Wealth
Asian banks with scale and healthy cost-income ratio's have been keen acquirers.
Legal, Regulation & Compliance
05/04/2018
Australia's AMP denies modifying report, inquiry finding of criminal offense
AMP CEO Craig Meller and Chairwoman Catherine Brenner have both quit in recent weeks following disclosures that the firm misappropriated funds of thousands of clients over the last decade by charging them without providing advice, and that it repeatedly l
05/03/2018
Government announces overhaul of data landscape in Australia
The Consumer Data Right will be implemented first in the banking sector, followed by the energy and telecommunication sectors.
05/03/2018
Former Credit Suisse banker gets 4-year ban for dishonest conduct: MAS
Finance professionals who engage in dishonest conduct to frustrate the detection of such suspicious transactions must be dealt with firmly.
05/03/2018
S Korean prosecutors to examine Elliott deal with Samsung C&T
Investigation follows activist fund’s claim for compensation from Seoul
05/02/2018
The Australian Parliament introduces Asia Region Funds Passport
It is envisaged that the Passport will appeal to Australian fund managers looking to offer their products in participating economies.
05/02/2018
CBA ordered to boost capital until governance failings fixed
“Executives are gone, board members are gone. More will go,” Australian Treasurer Scott Morrison told reporters in Canberra when asked about the APRA report’s implications for the bank.
05/02/2018
New rules for asset management welcomed
Revised regulations mark end to the old era of financial regulatory arbitrage caused by outdated, inconsistent rules
05/02/2018
NZ banks under scrutiny after misconduct in Aus
The regulators have previously said they were watching the inquiry with interest and would look closely at its findings with the first report due out on September 30.
05/02/2018
VOFF demands accountability from regulators
The advocacy group said that Trio Capital creditors were similarly charged fees for no service, including by ANZ and National Australia Bank custodians, and KPMG and WHK auditors.
05/02/2018
Japan’s regulators battle over more than just a banking merger
Both FSA and FTC believe they are acting in the best interests of the country
05/02/2018
ASIC deregisters 117 SMSF auditors
About 287 of the SMSF auditors who were served final notices eventually filed.
05/01/2018
China to raise cap on foreign ownership in securities firms
The rules will also equalise the caps on foreign ownership in listed as well as unlisted securities firms.
05/01/2018
Australia banks watchdog adds $750 mln to CBA's capital requirements
Australia's CBA ordered to boost capital until governance failings fixed
05/01/2018
CBA enters APRA EU
The findings have seen APRA accept an EU to establish a framework by which CBA will address the full set of recommendations in a timely manner.
05/01/2018
Japan, UAE to expand cooperation
The UAE is Japan’s main trading partner in the Middle East, accounting for about a third of Tokyo’s trade in the region.
05/01/2018
Indonesia's Financial Industry Can Withstand Much Weaker Rupiah: Regulators
Bank Indonesia Governor Agus Martowardojo repeated that the central bank would be prepared to raise the benchmark interest rate to halt a rupiah slump if it threatened the inflation target or financial stability.
05/01/2018
Report: Swiss begins criminal probe on 1MDB's JV partner
"US investigators have previously alleged that US$1 billion of Malaysian public money meant for a joint venture between 1MDB and PetroSaudi was siphoned off to a Malaysian businessman.
05/01/2018
Singapore’s MAS consults on raising bar for individual accountability
The proposed guidelines include a requirement that financial institutions, or “FIs” as it calls them, identify senior managers who are responsible for core management functions, and that they clearly specify these individuals’ accountabi
04/30/2018
Nick Bolton back on ASIC radar
Nick Bolton was previously Keybridge's managing director.