09/17/2020
Malaysian FIs to Pilot Implementation of Climate Risk Taxonomy
According to the joint statement, a revised document will be published in early 2021
Legal, Regulation & Compliance
09/17/2020
Bank of Japan keeps policy on hold, upgrades economic view
The BOJ revised its assessment of conditions, saying the economy has started to pick up with activity resuming gradually.
09/17/2020
Aware Super joins forces with Dutch pension fund
Following the agreement, APG and Aware Super hold an equal economic interest in City ID, which the Dutch pension fund acquired a stake of in 2019.
09/16/2020
Singapore trader Rhodium sued by Maybank for US$3m payment
The Kuala Lumpur-based bank didn't accuse Rhodium of any wrongdoing, or provide reasons for the default.
09/16/2020
Thailand’s SEC Proposed to Raise Fees on Futures Trading
The SEC says it is “still assessing the new fee structure” and will evaluate opinions received from business operators, the SET (Stock Exchange of Thailand) and other stakeholders in the capital market.
09/16/2020
APRA, ACCC Update MoU on Financial Sector Cooperation
APRA and the ACCC also agree to seek input from, or collaboration with, each other to achieve or improve regulatory outcomes, particularly in policy development, industry consultation, and statistical collections.
09/16/2020
Australia eyes trade with India as China spat exposes dependence
This has Australia looking to its democratic, cricket-loving ally to fill the void.
09/16/2020
State Street cops $1.25m fine from AUSTRAC
State Street was handed a $1.25 million fine by AUSTRAC for allegedly breaching 99 times its obligation to report international transfers to the agency under Anti-Money Laundering and Counter-Terrorism Financing laws.
09/16/2020
Hong Kong Govt Enhances 100% Loan Guarantee Scheme
The total guarantee commitment is being raised to HKD 70 billion, according to HKMC Insurance
09/15/2020
Changes to Hong Kong OFC Regime Take Effect Immediately
Private OFCs are no longer subject to investment restrictions and securities brokers are now eligible to be OFC custodians, among other changes.
09/15/2020
Standard-setters Kick Off Initiative to Harmonise Sustainability Reporting
The IFRS Foundation is proposed as the body that is “optimally positioned” to lead and coordinate the creation of a new sustainability standards board.
09/15/2020
The Storm before the Calm or the Calm before the Storm?
Analysis of market positioning suggests that traders do not have significant sterling shorts yet.
09/15/2020
Raffles Family Office Seals Three-Year Partnership with Juventus
The partnership will see RFO and Juventus collaborate on a range of branding and marketing activations including exclusive incentives for RFO's ultra-high-net-worth clients, business partners and employees.
09/15/2020
Hong Kong crime family arrested in HK$3 billion money-laundering investigation
Parents and three children had over 100 personal bank accounts between them, with officials looking into 6,000 suspicious transactions
09/15/2020
NAB super entities hit by $57.5 million court penalties
The Federal Court made declarations to the effect that NULIS and MLC Nominees breached the ASIC Act for misleading and deceptive conduct and by making false or misleading representations, for which the civil penalties have been ordered.
09/15/2020
China Tightens Against Non-Financial Players
Qualified companies that are denied regulatory approval must sell their stakes in the financial companies or give up control.
09/15/2020
Australian Ethical rejigs insurance
In addition, the premiums members will pay are set to be based on age, gender at birth and occupation, increasing annually on the members' birthday.
09/15/2020
Trial of former JPMorgan banker begins in Hong Kong with plea of not guilty
Leung made no comment in court apart from her plea and declined to comment when approached by Reuters after the first day of her trial.
09/15/2020
Will the BVI follow the DIFC, USA and New Zealand?
One of the recommendations that is most likely to affect the BVI Commercial Court is the recommendation for the removal of the requirement in CPR Part 7 that the court's permission is required before a claim form can be served out of the jurisdiction
09/14/2020
NAB fined $57.5m in 'fees for no service' case
The action against NAB, which was launched shortly after a gruelling appearance by the bank at the royal commission into financial misconduct, was against two NAB-owned trustees, NULIS Nominees and MLC Nominees.