02/18/2022
APRA proposes major increase in superannuation data transparency
Executive Board Member Margaret Cole said APRA was determined to publish as much of the new data as possible.
Legal, Regulation & Compliance
02/18/2022
Three more jurisdictions sign MLI, which now has 99 signatories and parties
Thailand’s MLI position identifies 58 tax treaties that it wishes to be covered by the MLI, while Vietnam’s MLI position identifies 75 tax treaties that it wishes to be covered.
02/18/2022
New requirements in force for cross-border data transfers from China
Critical data infrastructure operators and specific categories of processors are required to store personal data on the mainland.
02/18/2022
ASIC and RBA update MoU with European Securities and Markets Authority
The parties express their willingness to work together to fulfill their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and systemic stability.
02/18/2022
ASIC consults on proposals to remake PDS, superannuation dashboard and FSG legislative instruments
ASIC has reached the preliminary view that the existing instruments are generally operating effectively and continue to form a necessary and useful part of the legislative framework.
02/17/2022
Aware Financial Services Australia fined $20 million
The Court also ordered that Aware FS publish an adverse publicity notice on its website for one year.
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
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.