11/04/2021
EBRD expects Central Asian economies to grow by 4.9 per cent in 2021
The report notes that in 2021 growth was driven by the normalisation of domestic activities following a gradual relaxation of Covid-19 restrictions.
Legal, Regulation & Compliance
11/03/2021
Australia Introduces Payment Times Reporting Scheme Requirements
The deadline to submit reports is 30th September 2021 provided that the first reporting period ends on 30th June.
11/03/2021
Brunei Darussalam: Requirement for Registerable Controllers Information
Companies incorporated on or after 31st October should submit the particulars of their registrable controllers within 30 days of incorporation, whereas companies incorporated before the 31st October 2020 should have filed this information by the 31st Dece
11/03/2021
MAS Proposes Changes to Classification of Investment Products for Retail Investors
"With these proposals, we strive to maintain the balance between providing retail investors convenient access to a range of investment products, while ensuring that sufficient safeguards are in place to enable them to make informed investment decisio
11/03/2021
FASEA releases consultation – Financial Planners & Advisers Code of Ethics 2019 – Standard 3
Pursuant to section 921U(1)(b) FASEA is required to review instruments regularly.
11/02/2021
Better Advice Act broadens ASIC’s regulatory responsibilities
ASIC’s engagement with the financial advice industry has been broadened with the passage of the Better Advice Act (the Act).
11/02/2021
ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees
ASIC is seeking civil penalties, declarations and other orders.
11/01/2021
India regulator proposes ESG funds invest only in assets with sustainability disclosures
There were eight ESG funds in India with 120.85 billion rupees (US$1.6 billion) of total assets under management as of end-September 2021.
10/29/2021
Evergrande Dodges Default Again
Earlier this month, two deals fell through including an attempt to sell its Hong Kong headquarters in a proposed $1.7 billion deal and another deal involving part of its property services unit in a $2.6 billion deal.
10/29/2021
CBA pleads guilty to criminal charges for mis-selling consumer credit insurance
ASIC Deputy Chair Sarah Court said ‘ASIC has been concerned about the consumer harms associated with add-on insurance for some time.
10/29/2021
MAS Announces 60 Finalists for the 2021 Global FinTech Hackcelerator and FinTech Awards
Ten finalists each were shortlisted through the Local Programme and the International Partner Programme.
10/29/2021
Futu, Tiger Brokers fall sharply as Chinese central banker warns on offshore trading by online brokers
China’s strict data privacy law goes into effect on November 1, raising risks for online brokers, state media said recently
10/28/2021
Two charts that show why you should ignore China’s index
Despite the doubters, China has not become uninvestable. But which Asian stock market has performed best since the MSCI China index was launched in 1992? Clue: it’s not China.
10/28/2021
China warns unlicensed online brokerages they are breaking the law
Nasdaq-listed shares of Futu and Fintech have since plunged, amid concern that the sector will be next in Beijing's regulatory crosshairs
10/28/2021
Victorian director disqualified for two years and six months
Showerline and Gracro were involved in the manufacturing and selling of bathroom and/or plumbing goods.
10/28/2021
HK regulator bans Standard Chartered manager for life
The disciplinary action follows Lau’s convictions under the Prevention of Bribery Ordinance (POBO) in May 2018 and the SFO in September 2020.
10/27/2021
Surveillance of investment switching by super fund executives identifies concerns with trustees’ conflicts arrangements
ASIC will continue to follow up with trustees about areas for improvement in their conflict management frameworks.
10/27/2021
ASIC quarterly update July to September 2021
"We continue to work closely with market operators to identify and disrupt actions that threaten the integrity of markets"
10/27/2021
Singapore: Withers KhattarWong represented Blue Ocean Resources Limited in successful restructuring
The team prepared and reviewed, negotiated and advised on all documents related to the scheme including the scheme document itself and the transaction agreements relating to the restructured facility and its related security documents.
10/26/2021
Hong Kong Authorities Target Property of Security Law Violators
NSL was imposed by Beijing to Hong Kong on June 30 last year, prohibiting any activities deemed as subversion, secession, terrorism or colluding with foreign forces with a maximum penalty of life in prison.