09/05/2012
ANZ comments on IMF class action
ANZ today confirmed it will continue to vigorously defend the class action bought against it in regard to exception fees by the publicly listed litigation funder IMF (Australia) Ltd.
Legal, Regulation & Compliance
09/05/2012
Singapore's MAS Investigating Property Listings On United Overseas Bank Website
"MAS is looking into the property listings in question. We note that the listings have been removed."
09/04/2012
Swiss Attorney General Probes UBS Over Malaysian Timber Proceeds
The case against UBS was opened on August 29, following a criminal complaint by the Bruno Manser Fund over the bank’s close ties with Sabah Chief Minister Musa Aman.
09/04/2012
Basel III to benefit Indian banking system: Subbarao
The Reserve Bank of India (RBI) Governor, D. Subbarao, on Tuesday, said that the Basel Committee was working on establishing a minimum set of principles for domestic systemically important banks (D-SIBs), including some large banks in India.
09/04/2012
Walkers Continues to Grow Asian Insolvency, Restructuring and Litigation Capability
Walkers has announce the continued growth of its Asian Insolvency, Restructuring and Litigation team.
09/03/2012
Regulators need to monitor shadow banking sector closely: analysts
Shadow banks are less scrutinised by regulators because they do not take customer deposits.
09/03/2012
International law firm boosts Family and Matrimonial Practice
The firm has announced that it has expanded its practice areas by adding a Family and Matrimonial Practice Group led by experienced practitioners
09/02/2012
UBS Probed Over Alleged Malaysia Money Laundering
Swiss bank UBS AG (UBS) said Friday that it will "certainly fully cooperate" with authorities after Swiss prosecutors began a criminal probe for alleged money laundering related to rainforest logging in Malaysia.
08/30/2012
Asian regulators express concern regarding overseas application of Dodd-Frank rules
“The impact from any resulting (likely significant) increase in compliance costs and the potential reduction in liquidity of [over-the-counter] derivatives markets should not be underestimated,” the groups said in the letter, according to Reu
08/30/2012
DLA, Jones Day, K&L Gates Bid for Singapore Law Licenses
“Asia is a key driver of global economic growth,” said Sushma Jobanputra, the partner in charge of Jones Day’s Singapore operations. “With that growth will come the increased need for Singapore law advice.”
08/29/2012
Asian regulators urge CFTC to review Dodd-Frank swap rules
In a rare unified move, five Asian regulators have sent a joint open letter to the Commodity Futures Trading Commission.
08/28/2012
Regulation severity cuts off IFA choice in Hong Kong
Since the financial crisis of 2008/2009, which revealed the widespread sale of ultimately worthless Lehman Brothers-linked mini-bonds, regulatory bodies in Hong Kong have been tightening the distribution of investment funds.
08/28/2012
International law firm nabs Linklaters banking partner
He has a particular focus on inbound and outbound investments to South-East Asia, particularly Indonesia and India.
08/28/2012
MAS fines former UOB Kay Hian remisier for share manipulation
Mr Teoh has admitted to civil penalty liability for contravening the SFA. Besides the fine, he will be barred for a period of three years from conducting business in any regulated activity or acting as a representative in respect of any regulated activity
08/28/2012
$21m tax case against Brisbane millionaire
A WHISTLEBLOWER who leaked sensitive client details from a secretive bank in Liechtenstein supplied critical evidence in a successful $21 million tax case against a Brisbane millionaire.
08/27/2012
Scottish firm Gillespie MacAndrew to open office in Perth
This will be the firm’s second office in Scotland, after having a presence in Edinburgh for the past 15 years.
08/27/2012
Axiom gears up for India and Singapore launches
Axiom, which specialises in providing bank lawyers for in-house legal functions, is scheduled to open a service delivery centre in Gurgaon, India in late November.
08/27/2012
Singapore: Banks warned against European tax evaders
A German media report put an unwelcome spotlight on Singapore, Asia's prominent wealth management centre, earlier this month, saying that some Swiss bankers had advised clients to transfer funds there before the implementation of a deal to tax German
08/27/2012
Clayton Utz recruits new talent to Corporate practice
She joins Clayton Utz from RBS (formerly ABN Amro), where she has held various legal and banking roles for nearly a decade.
08/27/2012
SSgA calls for change to QFII rules
The firm says it wants the flexibility of the RQFII scheme to be adopted in order to create a level playing field between Chinese, Hong Kong and foreign ETF operators.