09/23/2020
MAS ‘Closely Studying’ Singapore Mentions in FinCEN Files
The SARs flagged bank clients in more than 170 countries who were identified as being involved in potentially illicit transactions.
09/23/2020
CBA, Macquarie face new $167m dirty cash allegations
Commonwealth Bank ended up copping a $700 million penalty as a result.
09/23/2020
ASIC Tells Fund Managers To Be True To Label
ASIC examined the appropriateness of the product labels used by the 37 managed funds and assessed whether the funds were described and promoted in a manner that reflects the underlying assets in terms of risk and liquidity.
09/23/2020
ASIC cleans up 'cash plus' funds
ASIC found 14 'cash' funds with $7 billion in assets had confusing or inappropriate labelling, resulting in changes to names, asset allocations or in one case, even a closure.
09/23/2020
“Bursa Malaysia will continue to collaborate with the FMC, SC and Bank Negara Malaysia in market development initiatives to elevate and enhance liquidity and accessibility in the Malaysian financial market,”
09/22/2020
HSBC exposed in $80m Hong Kong Ponzi scandal
The bank was forced to pay a record $1.9 billion in December 2012 to settle the allegations that it had knowingly allowed for the transactions to go ahead.
09/22/2020
Westpac Group sells Strategic Alliances (“Vendor Finance”) business
Completion of the transaction is expected to occur at the end of April 2021.
09/22/2020
The revelations underscore challenges for regulatory and financial institutions trying to stop the flow of dirty money despite billions of dollars of investments and penalties imposed on banks in the past decade.
09/22/2020
During this period, ASIC has successfully completed enforcement action in two long-running matters, Octaviar and Storm Financial, both of which related to directors’ duties obligations in Australia and resulted in civil penalties and disqualificatio
09/22/2020
Following a referral from the HKMA and a self-report by BEA
09/22/2020
The SEC's complaint alleges, for example, that a number of purchase orders were entered in Chen's brokerage account immediately following logins from IP addresses assigned to Yang's home address.
09/22/2020
The SARs contained in the FinCEN Files flagged bank clients in more than 170 countries who were identified as being involved in more than USD 2 trillion in potentially illicit transactions. Among the potentially suspicious transactions were more than USD
09/22/2020
Asset managers set to launch China’s first Star 50 Index ETFs
The funds will track the top 50 companies on Shanghai’s answer to Nasdaq
09/21/2020
The amendments set out the sources of information which licensed corporations should consider in their institutional risk assessments, and include guidance on the range of risk factors that should be taken into account when conducting such assessments.
09/21/2020
CIE said the appointment of WCM, a "top tier manager with an outstanding long-term investment track record", was a positive outcome for the company.
09/21/2020
Former Barclays Australia chief Cynthia Whelan will also join as s senior adviser.
09/21/2020
The proposal states that the tax concession only applies to carried interest distributed by PE transactions only.
09/21/2020
Due to the proximity between HK and Macao and the similar language and cultural background, there is plenty of vitality in talent mobility between the two cities.
09/21/2020
The AIIB is testimony to both the continuing potential for successful multilateralism and the need to carefully navigate the challenges and acknowledge the constraints that come with cooperation in today’s more divided world.
09/21/2020
The process led to a net inoculation of 80 billion Yuan into the market.