08/19/2014
Singapore bank reforms prioritise local depositors
It follows other countries such as the US in requiring foreign banks with a significant presence to locally incorporate.
Legal, Regulation & Compliance
08/19/2014
Banks told to cover all their problems
Australia's big four banks along with AMP Limited, Suncorp, Macquarie Bank and Challenger have been warned by the Australian Prudential Regulation Authority (APRA) that their conglomerate status will now allow them the luxury of avoiding losses incur
08/18/2014
Malaysia Airlines MH370: Two arrested as £20,000 siphoned from passengers' bank accounts
HSBC takes the security of customer accounts very seriously
08/18/2014
China's bank cleanup is gaining momentum
That tally is expected to jump to more than $US300bn in the next five years, according to the banking regulator.
08/18/2014
Macquarie Private Wealth remediation suggests a new approach from the regulator
With the enforceable undertaking (EU) against Macquarie Private Wealth moving into the remediation phase on Friday, it appears the regulator may be adopting a new template for tackling problems in the financial advice sector.
08/18/2014
ARC confirms £48m legal action against ex-trust manager
In 2010, Capital Partners had arranged an equity purchase agreement for RMB480m of stock in Orient Home
08/17/2014
Korean Supreme Court Rules in Favor of Goldman Sachs in a Fund Refund Case
In a lawsuit surrounding the retirement pension fund refund, Supreme Court justices ruled in favor of Goldman Sachs against the plaintiff Kyobo Life.
08/15/2014
Macquarie forced to contact 160,000 clients over bad advice
The corporate regulator has warned there remain widespread shortcomings in the financial planning industry as it announced a dramatic escalation of its actions against Macquarie Group
08/15/2014
Brazil denies links with property firm EcoHouse
Up to 1,500 investors in Singapore have reportedly poured S$70 million into projects linked to the UK-based company.
08/15/2014
Exclusive: PwC beats globals to get former KWM heads
Former King & Wood Mallesons managing partners Tony O’Malley and Tim Blue have chosen to join PwC over global suitors including White & Case.
08/14/2014
China sacks anti-monopoly adviser over Qualcomm payment: Xinhua
Against this backdrop, hiring relevant 'experts' from government departments to 'speak on behalf of foreign companies' is a violation of discipline
08/14/2014
Bribe-for-credit scam: Boutique investment firms under scanner
These 'conduits' are suspected to have influenced the decisions at banks and other financial institutions by paying bribes to their senior officials
08/14/2014
China says 18 fugitives linked to financial crimes now captured in overseas manhunt
Those arrested include two bank fraudsters who surrendered to Cambodian authorities
08/13/2014
Singapore central bank wants to strengthen oversight of credit bureaus
. Such agencies are not subject to regulation or penalties currently.
08/12/2014
Standard Chartered to scour mountains of data for money laundering, with penalty at stake
Both sources spoke on condition of anonymity as they are not authorized to speak publicly about the matter.
08/12/2014
Five Australian banks face class actions on fees
Australian legal firm Maurice Blackburn said on Tuesday it had filed open class actions against five banks over late credit card fees worth hundreds of millions of dollars.
08/12/2014
INDIA: Five lessons from bribery scandals in banks
Cracks in the banking system show that the sector needs an overhaul
08/10/2014
ICBC executive sued by ex-employer Deutsche Bank over US$4 million transfer
The lawsuit demands that Zhang Hongli, now senior executive vice-president of ICBC, pay Deutsche Bank more than US$6.3 million as compensation for all losses plus interest.
08/10/2014
India: Regulations alone won’t work to control India’s illegal finance market
Even as a new legislation empowers the Securities and exchange board of India to tighten its grip over entities running ponzi schemes above Rs 100 crore, such regulations could help only to cure the symptoms
08/08/2014
Thailand: Lawsuit against Noble 'aims to protect investors'
The dispute between SET-listed property developer Noble Development Plc and a group of shareholders has intensified after ABN Amro Nominee Singapore Ltd came out to defend itself.