02/23/2017
NAB throws full support behind broker commissions
We welcome that regulatory oversight as it legitimises even further the role that brokers play in the marketplace.
Legal, Regulation & Compliance
02/23/2017
India’s Central Bank Tells Banks: Go Digital or Become Obsolete in the FinTech Age
The banning of India’s largest banknotes, the Rs 500 and Rs 1,000 notes in November, to help tackle corruption, black money, and terrorism, could make the digital move simpler
02/23/2017
Former Deutsche Bank, HSBC traders in Singapore jailed for cheating employers
Justice See Kee Oon said that deterrent sentences were justified
02/23/2017
Private placements up next for China’s whack-a-mole regulators
Share sales to be cut or cancelled after curb on ‘excessive and frequent’ fundraising
02/23/2017
Singapore's 25 largest law firms 2017
Falling commodity prices and China’s economic slowdown further dampened the outlook in 2016, but clients continued to see opportunities in the region and call for legal and professional services.
02/22/2017
China to Draft Rules to Rein in Asset Management Risks
Households and companies have poured into asset management products, seeking higher returns than bank deposits can offer.
02/22/2017
China offers banks lure of lower reserves to get more money to ailing sectors
The statement confirmed a Reuters report on Monday that the central bank is extending a programme that allows financial institutions that support rural finance and small enterprises to apply for a lower required level of cash reserves.
02/22/2017
China regulators set new rules for asset managers as debt fears grow
The proposed new rules aim to unify the regulation of the asset management industry under leadership of the central bank in order to improve oversight of the sector.
02/21/2017
HSBC Boosts CEO Gulliver's Pay as Bank's Bonus Pool Drops 12%
He received 64 percent of his potential bonus, while he will also get a new long-term incentive that could be worth 4 million pounds for 2016 if all targets are met by 2019.
02/20/2017
Islamic finance has alot to offer today’s financial systems
Importing principles of Islamic finance into the global economic market would strengthen the system’s overall transparency, ethics, and real asset base.
02/20/2017
Insurers braced for ruling in Hong Kong directors’ case
The SFC pressed market misconduct charges against Citic in 2014 for failing in 2008, when it was called Citic Pacific, to disclose immediately billions of dollars in losses on a currency hedge gone wrong.
02/20/2017
AIA forms new asset management entity to serve group businesses (Amended)
AIA Singapore's former chief investment officer Cheong Poh Kin has been appointed chief executive of AIAIM and will lead the team of investment professionals.
02/20/2017
A call for a duel on bank secrecy
How can he conceal the fruits of his crime?
02/20/2017
Hong Kong brokers, fund managers struggle to get their heads round new SFC rule
New requirement that firms appoint individuals to control eight ‘core functions’ is proving harder than it sounds
02/20/2017
Bank of China to pay fine in Italy money-laundering
The Bank of China said the plea deal was aimed at "avoiding a long trial and allowing the Milan branch to concentrate on developing its own business.
02/20/2017
HSBC Stops Issuing P-Notes As Government Steps Up Clampdown
(Sebi) has shared with the government a list of foreign fund houses that are found to have issued the Offshore Derivative Instruments (ODIs) to Indian nationals.
02/20/2017
India’s Largest Insurance Merger Stuck As Regulator Seeks Attorney General’s Advice
The Insurance Act allows for mergers between two life insurance companies but does not make provision for the merger of a life insurance company.
02/20/2017
Pakistan to access citizens’ past financial details in foreign countries
The official said the exchange of information between the signatory countries would be restricted to the present details in case of accounts with deposits below the mark of one million dollars.
02/19/2017
Coalition cites ANZ credit card rate cut as proof no royal commission is needed
Malcolm Turnbull welcomes the interest rate cut as evidence the house economics committee is holding banks to account
02/19/2017
HSBC, UBS stop issuing Participatory Notes as India steps up clampdown
These instruments are not allowed to be issued to Indians, NRIs or Persons of Indian origins.