12/20/2017
KPMG partners face court contempt over China audit
Petitions to wind up China Medical were filed in the Cayman Islands, New York and finally in Hong Kong in 2012, and the company was placed into liquidation.
Legal, Regulation & Compliance
12/19/2017
Singapore issues more financial bans related to 1MDB scandal
Investigators have claimed that inflated PetroSaudi valuations were used to justify and obscure improper fund transfers at the heart of the 1MDB scandal.
12/19/2017
BlueBlood Ventures to buy Fullerton Securities and Wealth Advisors
BlueBlood expects the acquisition to lead to operational synergies and higher growth for the firm
12/19/2017
China state planner issues new rules for offshore investments
The new regulations represent the latest crack of the whip over what Beijing views as harmful and often illicit capital outflows.
12/19/2017
Half Australia’s big four banks to refund millions after overcharging home loans
Half of Australia’s big four banks have to refund millions to customers after coming forward to admit they overcharged on home loans for years.
12/18/2017
Japanese pension fund shouldering costs of BOJ's negative rate
Central bank's deposit fee squeezes bank handling GPIF assets
12/18/2017
Jersey – an IFC island in the mainstream of global finance
One of the Jersey Finance team’s key challenges is differentiation of jurisdiction and value proposition.
12/18/2017
Standard Chartered to partner Ant Financial
The bank is an industry leader in RMB, SME and Retail financial services, and has been supporting Chinese companies to expand their operations globally with innovative financial products and services.
12/18/2017
Regulatory Pressure for KYC Compliance Set to Ratchet up in 2018 for Hong Kong Firms
That analysis revealed that firms in the region see regulation as the primary motivation for AML compliance change
12/17/2017
New rules a boon for Indian real estate market
These much-awaited changes will benefit both real estate developers and investors, who represent a growing interest among hedge funds and other investors to gain exposure to the Indian real estate market.
12/17/2017
UK crime agency shares documents with NAB team
The NAB team also visited the UK Home Department and Pakistan High Commission in London, the sources said.
12/15/2017
Dutch asset manager to adopt Korea’s stewardship code
Prior to Robeco, Hong Kong-based investment firm Oasis Management Company and U.S. investment firm Dalton Investments LLC officially announced to support Korea’s stewardship code
12/14/2017
Australian FSR insights 2018 outlook
The kinds of rules and the frequency with which APRA will make them will likely vary.
12/14/2017
CBA admits to anti-money laundering breaches, AUSTRAC flags new allegations
It denied that this amounted to eight separate contraventions, but agreed it did not adhere to all transaction monitoring requirements relating to certain affected accounts.
12/14/2017
'That's not a lawsuit': Hogan suing Grill'd over famous line
The mugger demands Mick Dundee's wallet, with Kozlowski's character Sue telling him to comply because "he's got a knife".
12/14/2017
Licences for four foreign law firms to run till 2020
Law Ministry defers decision on renewal, noting firms' contribution to growth of legal sector
12/13/2017
Law firms’ bestie bond establishes new Asia-Pacific ties
It was established by founding partners Philippa Fee and Craig Langstone in the late 1980s, with an additional three people – Pauline Davies, Cecily Brick and Matthew Atkinson – joining the partnership over the years.
12/13/2017
Hong kong FSR insights 2018 outlook
The SFC has indicated that it will shortly be providing more granular guidance on cooperation in disciplinary, civil and Market Misconduct Tribunal proceedings.
12/13/2017
China’s graft watchdog warns officials over ‘concealed’ extravagance
President Xi Jinping has waged a five-year war on graft at all levels of the ruling Communist Party, from high-level “tigers” to lowly “flies”.
12/13/2017
Convoy raids put Hong Kong firms on notice
Hong Kong’s financial services firms can expect greater regulatory scrutiny as an unprecedented joint probe by the Independent Commission Against Corruption and the Securities and Futures Commission paves the way for future investigations.