03/24/2014
CBA banks on privacy social contract for future smart services
Commonwealth Bank of Australia technology chief Michael Harte said trusted privacy protection will be the killer app for his business during the next decade.
Legal, Regulation & Compliance
03/24/2014
Why have regulators done so little to rein in the credit rating agencies?
It's the one question about the 2008 financial crisis that people still ask me more than any other: Why have regulators done so little to rein in the credit rating agencies?
03/23/2014
Sebi to issue guidelines for FATCA compliance next fiscal
With talks underway for an Indo- US agreement to combat possible tax evasion by Americans through Indian entities, Sebi plans to issue new guidelines for market intermediaries in this regard next fiscal.
03/21/2014
Eastern Caribbean Court of Appeal Stays BVI Unfair Prejudice Proceedings in Favour of Chinese Courts - Appleby
In a recent judgment the Eastern Caribbean Supreme Court, Court of Appeal, reversed the decision of Bannister J in Gao Chunhe v Najing Ocean (BVI) Co. Limited in the Commercial Division, and stayed BVI unfair prejudice / just and equitable winding up proc
03/21/2014
China regulator warns of risks in insurance asset management products
The CIRC is tightening supervision of the issuance of such products
03/21/2014
A&O and Allen & Gledhill lead on SocGen’s private banking sale in Asia
Allen & Overy is advising Societe Generale on the disposal of its private banking business in Singapore and Hong Kong to Singapore’s DBS Bank, which turned to Allen & Gledhill and Clifford Chance for advice.
03/19/2014
HK labour market short of compliance professionals, recruitment firms say
A struggle to comply with new market regulation is heating up the Hong Kong labour market for finance and accounting professionals, recruitment firms observe.
03/19/2014
Russian Hacker Accused Of Raiding Swiss Banks Arrested In Bangkok
He is accused of causing as much as $4 billion worth of damage to several Swiss banks.
03/19/2014
BLP seeks to formalise Indonesia relationship with new Asia Network
The firm has worked with a number of Indonesian firms, both large and small, including established Jakarta firm Ali Budiardjo Nugroho Reksodiputro (ABNR).
03/19/2014
ASIC publishes seventh market supervision report
ASIC Commissioner Cathie Armour said the results were testament to the significant energy dedicated by ASIC, and in particular its Market and Participant Supervision team, to the supervision and surveillance of Australia’s financial markets.
03/18/2014
Hong Kong regulator waives fees for 2 more years
The Hong Kong capital market regulator has waived the annual licensing fees for another two years, and says it sees this move benefitting 39,000 intermediaries.
03/18/2014
Warning over Hong Kong inheritance scam
He claims a person with the same name as the resident died leaving no will and 16.4million US dollars.
03/17/2014
Japanese bank accused over bitcoin losses
Mizuho Bank, one of Japan's largest lenders, has became ensnared in North American legal fallout from Mt. Gox, once the world's biggest bitcoin exchange
03/17/2014
Singapore: Financial services oversight drives rise in professional jobs
Morgan McKinley study shows 7.4% hike in Jan; 15% of job increases are from regulatory hiring
03/17/2014
Leading international law firm continues global expansion with Singapore office
The head of Harneys’ banking and finance practice group, will relocate from Hong Kong to Singapore
03/17/2014
Pakistan Central Bank Blocks Kuwait’s Noor From Selling Meezan Bank Stake
Pakistan's central bank stated the prospective buyer had not met its standards for suitability
03/14/2014
Japan banks to sidestep Volcker private equity restrictions
US regulators give green light to grey area structure
03/14/2014
Hong Kong banks' battle for deposits starts earlier
A regulatory directive that banks in Hong Kong fund the loans they make with deposits of longer tenor has spurred the lenders to begin their annual battle for deposits earlier this year.
03/14/2014
Singapore to regulate virtual currency intermediaries
Those who buy, sell or facilitate the exchange of virtual currencies such as Bitcoins for real currencies in Singapore will have to verify the identities of their customers and report suspicious transactions when new rules take effect.
03/14/2014
Hong Kong rate probe finds no rigging
Hong Kong's de facto central bank has notified banks in the city that a more-than-yearlong investigation found no successful manipulation of the local benchmark interest rate