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.
Legal, Regulation & Compliance
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.
09/14/2020
Ogier's BVI and Hong Kong teams advise in liquidation matter involving secured creditors
Novel Blaze opposed the application on a number of grounds.
09/14/2020
Global Private M&A Guide
A practical tool covering key aspects of the legal and regulatory M&A framework in nearly 40 countries
09/14/2020
Thai Airways faces court ruling on landmark debt rescue plan
THAI creditors are likely faced with a protracted process: the company is estimating that the rehabilitation process could take as long as seven years.
09/14/2020
HSBC to Scrap More Fees for Hong Kong Retail Customers
A recent sequence of measures to shift to lower-cost, digital-first services for SME and retail customers is largely seen as a response competition from the new virtual banks.
09/14/2020
Thailand securities regulator mulls raising futures trading fee, report says
The move is necessary as the “growing volume on TFEX has increased the cost of operations and regulatory management by the SEC”, he says in the report published on September 11.
09/11/2020
Carey Olsen acts in London property deal
Carey Olsen advises Singapore real estate investment company on first London property acquisition