11/09/2020
Philippines probes money flows linked to Wirecard, says ex-official
The central bank has also banned former bank employees from the industry for allegedly falsifying documents for Wirecard.
Legal, Regulation & Compliance
11/09/2020
SEBI Doubles Overseas Investment Limit for Mutual Funds
Mutual funds can invest in overseas ETFs up to USD 200 million, subject to an overall industry limit of USD 1 billion.
11/06/2020
Singapore and Indonesia Central Banks Extend Swap Arrangement
It comprises a local currency bilateral swap agreement that allows for the exchange of local currencies between the two central banks of up to S$9.5 billion or IDR 100 trillion
11/06/2020
Former Macquarie financial adviser charged with dishonesty offences
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.
11/06/2020
Finance broker pleads guilty to making false statements to ASIC
Mr Wang admits that on each occasion he falsely certified that he, as the sole fit and proper person of his credit licence, had not had his accreditation cancelled or suspended by a lender for reasons other than volume.
11/06/2020
APRA Announces A$35b Reduction in Committed Liquidity Facility
Banks are required to make every reasonable effort to manage their liquidity risk through their own balance sheet management before applying for a CLF.
11/06/2020
Personal Data Protection (Amendment) Act 2020 in Singapore: Effects on Your Business
The amendments to the PDPA are timely in the fast-changing landscape of the digital economy, and bring Singapore’s personal data protection laws up to date and aligned with international standards, such as the GDPR.
11/06/2020
Ant IPO Suspension Needed to Protect Investor Rights: CSRC
The changes to the regulatory environment for fintech businesses cited by regulators are expected to impact the company’s business structure and profit model, which constitutes material issues at pre-listing stage
11/06/2020
Former advisers face huge fines
Acworth is currently on bail, with the matter scheduled to be heard again on 29 January 2021.
11/06/2020
BNP Paribas launches securities lending services in Hong Kong
Mr. McDonald will be responsible for trading activities and developing services for institutional lenders and borrowers in the Asian region.
11/06/2020
Apple must face shareholder lawsuit over CEO Cook's China sales comments
The lowered revenue forecast was the first by Cupertino, California-based Apple since the iPhone’s launch in 2007.
11/05/2020
Discontinuation of $1,000 Note Issuance to Pre-empt Money Laundering and Terrorism Financing Risks
The move is aligned with international norms and major jurisdictions have already stopped issuing such large denomination notes.
11/05/2020
Hong Kong’s SFC Proposes Climate Risk Requirements for Asset Managers
Large Fund Managers would also be required to assess the relevance and utility of scenario analysis for evaluating the climate resilience of their strategies and keep internal records of those assessments.
11/05/2020
RBA Slashes rates to 0.1%
This is the third time this year that interest rate has been cut.
11/05/2020
Guide to Restructuring, Turnaround and Insolvency in Asia Pacific
The challenges associated with successfully navigating restructuring and insolvency has been further compounded this year by COVID-19 related temporary or permanent changes to insolvency legislation.
11/05/2020
Ant Pullout Triggers Hong Kong Dollar Scramble
But just weeks after green-lighting the fintech giant for listing, regulators reversed their decision and the city is now attempting to unwind the excess liquidity.
11/05/2020
FSC Korea to Introduce FATF-aligned AML Rules for VASPs
Under the Act, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transaction worth more than KRW 1 million
11/05/2020
BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA
ESMA’s peer review focused on BaFin and FREP’s application of the Guidelines on Enforcement of Financial Information
11/05/2020
HKMA Seeks ‘Multi-CBDC Platform’ to Enhance Cross-border Payments
As part of the project’s second phase, the HKMA and BOT will soon bring banks and large corporates into trials to test the network using actual trade and capital market transactions.
11/04/2020
ADB approves US$483.8 million loan for Myanmar road project
The 64-kilometre expressway will help strengthen links with Thailand and other GMS countries