02/17/2022
SFC's Brain Drain Threatens Hong Kong Hub Status
The situation is so severe that top management formally raised the issue to the board late last year
Legal, Regulation & Compliance
02/16/2022
New requirements in force for cross-border data transfers from China
Personal data processors whether in mainland China or abroad wishing to transfer personal data outside of mainland China must obtain a separate consent from the relevant individual.
02/16/2022
Philippines, UAE Agree to Start Talks on Trade, Investment Deal
The Philippines may serve as a UAE’s strategic hub for the Southeast Asian region, as economic activities continue to shift to Asia.
02/15/2022
FSCP panel members named
The appointments follow industry consultation.
02/15/2022
ASIC prosecutes 104 individuals for failing to assist liquidators
ASIC expects that company officers will always assist registered liquidators in their investigations
02/14/2022
Banks have firewall for ANZ cartel cases: lawyers
“Nothing like this will ever happen again,” one said.
02/14/2022
ASIC update: Compensation for financial advice related misconduct as at 31 December 2021
AMP, ANZ, CBA, Macquarie, NAB and Westpac (the institutions) undertook the review and remediation programs to compensate affected customers as a result of two major ASIC reviews
02/13/2022
What happens in the Bahamas... Vijay Mallya saves his signature London home - again
A favourable ruling by the Supreme Court of Bahamas on February 11, 2022, unlocks trust funds, means that UBS can redeem the mortgage on the house and any associated interest.
02/11/2022
Singapore to publish framework on liability for scam losses
Given this, the recent development whereby the regulatory authorities in Singapore are stepping in to commence a review of the practices which the financial industry can put in place to better protect consumers.
02/11/2022
Parliamentary Joint Committee on Corporations and Financial Services
Opening statement by ASIC Chair Joseph Longo
02/11/2022
Collective redress across the globe - Singapore
Representative actions remain a developing area of the law in Singapore.
02/10/2022
Managed investment schemes operator ordered into liquidation
The PE Capital Monthly Yield Fund and its three sub-funds and the PE Capital Master Fund were all registered, while the remaining schemes were unregistered.
02/10/2022
New listing regime for SPACs in Hong Kong – an offshore perspective
The new Hong Kong SPAC listing regime seeks a balance, introducing relatively stringent requirements for the quality of both listing candidates and also de-SPAC targets, addressing the commercial needs of SPAC sponsors whilst also raising the bar in terms
02/09/2022
IBF and MAS Set Out 12 Technical Skills and Competencies in Sustainable Finance
Thematic topics include climate change policy developments, natural capital, green taxonomies, carbon markets and decarbonisation strategies.
02/09/2022
Mercator : Key Regulatory Updates from 2021
Mercator by Citco continues to provide updates from across the entire set of jurisdictions that Mercator operates in to help keep our multinational clients informed and remain compliant.
02/08/2022
Ex-BofA Executive Loses Appeal in Hong Kong Police Case
The police officer later said he drew his baton in an attempt to apprehend a teenager who had jumped a turnstile.
02/07/2022
Only Goldman Banker Standing Trial for 1MDB Finally Headed to Court
Malaysia did not allow the film to be shown in the country, deeming it too risqué.
02/07/2022
Singapore: Combating dilatory conduct and non-participation in arbitration proceedings - The delicate balance
The use of dilatory tactics by recalcitrant parties is a common, if not expected, problem in arbitral proceedings.
02/06/2022
Philippine banks want more laws as cyber-crime losses mount
The bankers’ group is pushing to update a decade-old cybercrime law
02/04/2022
MAS-led Industry Consortium Publishes Assessment Methodologies for Responsible Use of AI by Financial Institutions
The Consortium also released an open-source toolkit [1] to help FIs adopt the Fairness Assessment Methodology.