09/11/2017
China regulators are putting pressure on lending by trusts
Regulators provided no further details about the case.
Legal, Regulation & Compliance
09/08/2017
ASIC to get stronger powers to ban financial services workers
The taskforce also said the threshold for ASIC to exercise its banning powers should be expanded, and trigger when the regulator forms the view the person is not fit and proper to provide a service or to perform a management role.
09/08/2017
Ex-bank manager to face charges in Philippines for cyber heist, others cleared
Philippine prosecutors recommend the filing of charges against a former bank manager for her part in laundering of tens of millions of dollars stolen from Bangladesh’s central bank last year
09/08/2017
Financial crime crackdown curbs emerging markets
IFC says cut in bank ties has depressed legitimate growth
09/08/2017
New York regulator kicks Pakistan’s Habib Bank out of US
NY watchdog says company ‘opened the door’ to terror financing and fines it $225m
09/08/2017
Offshore Law Firm Hits Hong Kong
The firm was also included as a 'firm to watch for 2017' by Asian Legal Business.
09/06/2017
More cooperation in the financial space
A letter of intent has been signed with Indonesia's Financial Services Authority in Jakarta to work out a bilateral agreement on the establishment of qualified Asean banks between the two countries under the ABIF.
09/06/2017
Mourant Ozannes advises on facilities for Chinese manufacturing acquisitions by Platinum Equity
The Mourant Ozannes team was led by Partner Simon Lawrenson with Associate Peter Vas, alongside lead onshore counsel, Linklaters.
09/05/2017
Indonesia's regulator eases investment rule to aid infrastructure funding
The government is trying to create a market for such instruments.
09/05/2017
China's central bank issues instant ban on inital coin offerings
The ICOs also employ blockchain-based technology, enabling issuing companies to raise funds without using venture capitalists, investment bankers and other intermediaries associated with traditional fundraising.
09/05/2017
Regulatory approval received for the acquisition of Trinity Fund Administration in Dublin and the Cayman Islands
Regulatory approval is conditional upon the transaction being completed within 12 months.
09/05/2017
Moroccan Attijariwafa Bank, Japanese Sumitomo Corporation Team up for Africa’s Development
The agreement will also enable Sumitomo Corporation to have access to the network and expertise of Attijariwafa bank group
09/05/2017
Aussie watchdog turns spotlight on IFA remuneration practices
The regulator said it will crack down on practices that pose the greatest risk to consumer confidence.
09/05/2017
ASIC's responsible lending battle with Westpac heats up
Westpac said the court action did not concern any current lending policies or practices.
09/05/2017
What is an ICO, and why is China’s central bank banning it?
Cryptocurrencies can be designed to be widely used, as with bitcoin, or to operate within an online network like the Ethereum network that uses ethers to make payments.
09/04/2017
Slater and Gordon to break away from its UK operations
Slater and Gordon has broken off all ties with its ill-fated UK business after it handed over operations of its UK division to its senior lenders, led by the hedge fund Anchorage Capital Group. The move has come as part of a second recapitalisation plan
09/04/2017
ASIC targets retirement products and services
These stages include initial decision making about commencing retirement income.
09/01/2017
FSA to probe card loan biz as personal bankruptcies climb
While consumer finance companies can lend only up to a third of a customers’ annual income, banks can offer card loans regardless of income.
09/01/2017
China tightens grip on fund industry
The number of investors in a single private fund should not exceed the number of persons required by law.
08/31/2017
Retired stockbroker sues Credit Suisse over US$26m investment losses in 2008
The lawyers said Credit Suisse had promised Mr Koh "the heavens and the stars" when trying to get him to open a private wealth account with the bank.