06/22/2023
MAS fines DBS, OCBC, Citi, Swiss Life for money-laundering rule breaches uncovered in Wirecard probe
OCBC was imposed a composition penalty of S$600,000 for breaches between June 2015 and January 2016
Legal, Regulation & Compliance
06/21/2023
MAS Proposes Standards for Digital Money
Stakeholders using different wallet providers can transfer digital assets to one another without the need for customisation.
06/20/2023
SFC reprimands and fines Taiping Securities (HK) Co Limited $1.3 million for internal control failures over employee dealings
The SFC also found that TSCL failed to communicate its personal dealing policy applicable during the relevant period to all employees and ensure that they understood and followed its policy.
06/19/2023
HKMA’s global financial summit, BIS conference to bring hundreds of bankers to Hong Kong in November
The HKMA expects 280 CEOs and senior banking and finance executives to attend the summit, said CEO Eddie Yue Wai-man
06/19/2023
Philippine SEC holds back crypto framework so “people don’t get burned”, report says
Bahamas-based FTX was once the third-largest cryptocurrency exchange by volume with more than one million users.
06/19/2023
Maples Group Advises Nomura on Launch of Fund Providing Exposure to Bond Plus 7.0
The Fund's investment manager is Sompo Asset Management Co., Ltd. Nomura Bank (Luxembourg) S.A. will provide fund administration and custody services.
06/15/2023
Georgian Tycoon Awarded $926 Million in Landmark Verdict
The judgment, published on Friday, cited the bank's failure to protect Ivanishvili's assets from Patrice Lescaudron, an advisor at Credit Suisse Trust in Singapore.
06/15/2023
HKMA Questions Banks on Lacking Crypto Clients
In addition to being issuers of Hong Kong’s currency, the three lenders also hold the chair and two vice-chair posts at the Hong Kong Association of Banks, a local lobby group.
06/14/2023
Stephenson Harwood (Singapore) Alliance advises ABN AMRO Bank and CACIB on US$160 million sustainability-linked loan
The SLL includes a sustainability-linked margin adjustment with two key performance indicators: one linked to reducing fleet emissions and the second to increasing the number of female seafarers in BWEK's employment.
06/12/2023
MAS Launches AI in Finance Challenge for the 2023 Global FinTech Hackcelerator
The competition is conducted in partnership with AI Singapore (AISG) and powered by Oliver Wyman.
06/08/2023
Japan unlikely to ditch negative rates for another year-Nomura Asset Management
The BOJ jolted markets late last year by allowing 10-year yields to rise to a limit of 0.5%.
06/07/2023
Hong Kong, UAE to develop digital asset regulations, boost financial cooperation
A central theme in the discussion orbited around digital currencies, with both banking regulators noting the potential of the asset class in improving international payments.
06/05/2023
Stephenson Harwood wins four awards at WealthBriefingAsia & Greater China Awards 2023
These annual awards, which are part of WealthBriefing's global awards programme, recognise firms, teams, and individuals that have demonstrated innovation and excellence during the last year.
06/02/2023
Four Hong Kong Partners recognised in Asian Legal Business Offshore Client Choice 2023
Upon their recognition, Christopher, Mark, Norman and Paul shared their thoughts on how to maintain the edge in the increasingly competitive legal services market and the delivery of professional services to clients.
06/02/2023
Carey Olsen advises on Smarter Microelectronics' ¥1.5 billion IPO
The funds are intended to support SmarterMicro's plans to build a chip testing centre, its global headquarters and a research and development centre.
06/02/2023
Credit Suisse axes China bank plan to avoid regulatory conflict under UBS
Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China.
06/02/2023
Aussie regulator extends date for financial adviser registration
To allow Asic to assist industry with requirements
06/01/2023
SFC and Police joint operation against a suspect of illegal short selling and fraudulent activities
The suspected short selling took place on six trading days and the total proceeds from selling the shares of the four listed companies reached $17.7 million.
06/01/2023
ASIC builds on regtech innovation initiative into poor market disclosure
Eastern Analytica will be tasked with developing a technology solution to help ASIC analyse corporate disclosures.
06/01/2023
APRA agrees to court enforceable undertaking from Bank of Queensland
The CEU also incorporates the findings of an independent report on the root causes of these issues, which was completed at APRA’s request in April 2023.