12/23/2016
How a Malaysian Scandal Spread Across the World
The money allegedly moved through Singapore, Switzerland and other wealth centers before being used to buy real estate, art, and other assets in New York, Beverly Hills and elsewhere.
Legal, Regulation & Compliance
12/23/2016
MBSB gets nod for talks on proposed merger with Asian Finance Bank
MBSB has a goal to become an Islamic financial institution by 2020 through merger with an Islamic lender
12/22/2016
Hong Kong on track with China’s bond connect plan, HKMA says
The stock markets between Hong Kong and China have been closely connected after the launch of the Shenzhen-Hong Kong stock connect scheme earlier this month
12/22/2016
RBI fines five foreign banks for FEMA violation
A penalty of Rs 10,000 each has been imposed on Bank of America, Bank of Tokyo Mitsubishi, The Royal Bank of Scotland, Standard Chartered Bank.
12/22/2016
Malaysia's MBSB renews merger attempt, eyes tie-up with Asian Finance Bank
The central bank requires that the negotiations be completed within six months, MBSB said.
12/21/2016
Philippines to set up bank dedicated to overseas workers
OFW Bank to target $25 billion per year in remittances
12/21/2016
Thailand Frees Swiss Key Witness in 1MDB Case
The Swiss citizen has now been freed by Thailand and will be able to spend Christmas in his home tome of Geneva.
12/21/2016
Ex-BSI banker found guilty in Singapore of charges linked to 1MDB probe
Yeo is facing seven separate charges
12/19/2016
Singapore regulator plans to make share short-selling transparent
Aggregate information on short sell orders and short positions would be published.
12/19/2016
‘Black Money’ Disclosures Not Immune From Criminal Liability: Taxation Laws (Second Amendment) Act, 2016 Came In To Force
The scheme has made it clear that there will be no immunity under the Criminal Acts with respect to the disclosures made under this scheme.
12/19/2016
Pakistan to exchange bank accountholders’ details with OECD
The FBR is discussing modalities with the banks to set up a system for exchanging information
12/19/2016
Australian Government Introduces Bill to Mandate Professional Standards for Financial Advisers
The Australian Securities and Investment Commission Regulatory Guide 146 sets out ASIC’s minimum expectations in terms of the knowledge, skill and education level as guidance.
12/19/2016
FSC calls for further internationalisation of Taiwanese companies
Mr. Huang encouraged Taiwan’s fund managers to work on developing their business overseas
12/19/2016
Legislative panel rejects rise for China-led Asian Investment Bank – ‘Pilots must be returned to KAC’
The Minister of Finance has asked the committee to approve $536 million after reducing the quota, but the Committee has rejected the government request.
12/19/2016
Hong Kong SFC Freezes Client Account
The SFC is not investigating either IBLLC or IBHK, which have cooperated with the SFC’s ongoing investigation.
12/16/2016
Ex-BSI banker becomes 2nd person convicted in Singapore's 1MDB probe
Prosecutors asked for a two-week jail sentence.
12/15/2016
ANZ and Macquarie fined for cartel conduct
The banks were also ordered to contribute to the ACCC's costs.
12/15/2016
16-440MR ASIC releases world-first licensing exemption for fintech businesses
ASIC’s 'fintech licensing exemption' is unique
12/15/2016
16-438MR ASIC releases new instrument for nominee and custody services and amends platforms class orders
The new nominee and custody services instrument and updates to the platforms class orders follow a public consultation released on 21 July this year.
12/14/2016
India-Cyprus tax treaty renegotiated: key provisions
The agreement may have important implications for investors that have already made investments