08/02/2021
Aisling Dwyer Wins International Women's Insolvency & Restructuring Confederation's Fetner Award
The award recognises exceptional contributions made by an international IWIRC member.
Legal, Regulation & Compliance
07/30/2021
SEC Thailand and CSSF sign a Fintech information sharing agreement
The Memorandum of Understanding provides a framework for cooperation between the two authorities with respect to promoting innovation in financial services.
07/30/2021
Court finds former superannuation trustee Tidswell Financial Services failed to act efficiently, honestly and fairly
‘ASIC will continue to work to ensure trustees comply with their obligations to properly monitor the promotion of their products by outsourced service providers.’
07/30/2021
Website Alert – Fraudulent website related to Public Bank (Hong Kong) Limited
The HKMA wishes to remind the public that banks will not send SMS or e-mails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions.
07/29/2021
China Regulator Gathers Banks to Restores Market Calm
After China clamped down on internet platforms – most notably by requiring prospective foreign listings by such firms to undergo a data security review for approval – the education sector has become the latest target.
07/29/2021
BIS Innovation Hub and Monetary Authority of Singapore publish proposal for enhancing global real-time retail payments network connectivity
The BIS Innovation Hub Singapore Centre is working on both.
07/28/2021
Munro exits China exposure
“Regulatory threats are going through in China and that is concerning.
07/28/2021
ASIC releases guidance and customer information requirements to implement the new add-on insurance deferred sales model
ASIC will continue to engage with industry in the lead up to the new laws commencing.
07/28/2021
ASIC obtains asset freezing orders against Queensland property developer Ian Chester
The orders have effect until a further hearing before the Court
07/28/2021
Hong Kong Proposes Climate Risk Management Guidelines for Banks
In this Legal Update, we highlight key aspects of the Draft Guidelines and takeaways for AIs considering how to approach these new proposals in Hong Kong.
07/27/2021
Banks Mull Evergrande U-Turn After HKMA Questions
An HKMA spokesperson said that the banking regulator would communicate with banks on different topics regularly but did not comment on specifics as a matter of policy.
07/27/2021
Crypto Mogul Calls Possible Full Ban for Bitcoin in China
Despite headlines about the ongoing crypto crackdown, it is still legal today to own bitcoin in China and trade it amongst friends and strangers but not through platforms or businesses.
07/27/2021
Asia: Understanding Subsidiary Governance
To support development in Asia specifically, we have provided three essential things to consider when planning for regulatory compliance.
07/26/2021
Tencent shares slide after Beijing crackdown on music rights
The company and its affiliated businesses have been told that they can no longer engage in exclusive deals over music rights and must dissolve any existing agreements within 30 days.
07/26/2021
PwC renews its salary structure, bonus payout and other benefits
“We’ve launched our new strategy in response to staff feedback,”
07/26/2021
BT Funds Management and Asgard Capital Management ordered to pay a $3m penalty for charging fees for no service and making misleading statements
The Court found that between September 2014 and August 2017, a total of 404 customers were harmed by BT’s and Asgard’s conduct.
07/26/2021
ASIC cancels AFS licence of Fentborough Pty Ltd
The cancellation of Fentborough’s AFS licence is part of ASIC’s ongoing efforts to improve standards across the financial services industry.
07/26/2021
BOJ Sets Out Strategy to Address Climate Change
The BOJ itself will also make disclosures with consideration for the TCFD recommendations and enhance its communication with the public on climate-related conduct in general.
07/26/2021
Exceptional 2022 Banker Pay or Expect Exits
There hasn’t been that middle layer of associates, analysts and VPs coming through
07/23/2021
Chinese Regulators Could Hit Didi Harder Than Alibaba
Issues expressed by regulators include concerns about data security practices such as disclosure of statistics on taxi trips taken by government officials.