08/20/2020
APAC Regulators Issue Nearly $4bn in Fines in H1 2020
Fraudulent activity brought on by Covid-19 related initiatives may result in enforcement actions later in the year and into 2021, says Fenergo’s Rachel Woolley.
Legal, Regulation & Compliance
08/20/2020
Law firm demands Pahari documents from AMP
The firm also wants to see all communications between Burns and AMP and AMP's lawyers regarding Szlakowski's complaint and the investigation, a copy of the draft report and all documents relating to the disciplinary action taken against Pahari.
08/20/2020
Cayman Grand Court departs from Hong Kong Court in dismissing Winding-Up Petition
The Cayman Court adjourned the hearing of the Cayman petition pending judgment of the Hong Kong Court, so as to avoid conflicting judgments (noting that comity and cooperation are particularly important in cross-border insolvency).
08/19/2020
No pension increase in September
Each payment is reviewed every six months, in March and September, to reflect changes in living costs and wages.
08/19/2020
Singapore’s iFast Corp gets Malaysia regulator’s nod for securities dealing
The company had S$11.5 billion (US$8.41 billion) of assets under administration as at June 30, 2020.
08/19/2020
FFIS Charts Growth of Public-Private Partnerships in New Report
The report finds that public-private financial information sharing partnership collaboration enhances the quality of regulatory reporting, and improves law enforcement outcomes to disrupt criminal networks.
08/19/2020
Taiwan to Tighten Rules on Investments from Mainland China
The amendment will also extend the definition of whether a company is considered to be under the control of Chinese capital to include those that are under executive control of a Chinese organisation
08/19/2020
1MDB scandal: Malaysia and Goldman finalise US$3.9 billion settlement
The firm must make a US$2.5 billion cash payment to Malaysia within 10 days, sources say
08/19/2020
Singapore: Extending Jobs Support may only delay the inevitable - Retrenchments
Foreign investments, companies and talent have been at the cornerstone of our exponential growth as a nation.
08/19/2020
MAS bans ex-Prudential agent and ex-Bank of Singapore staff for fraud, dishonest conduct
The orders took effect from 18 August 2020.
08/18/2020
Football: Newcastle United in takeover talks with Singapore investors
The group added that the talks with Newcastle United owner and British businessman Mike Ashley had taken place in recent days and were ongoing.
08/18/2020
AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year
Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest
08/18/2020
China Rushes to Ramp Up Post-Sanction Defenses
Hong Kong is facing increasing pressure from Washington over the perceived undermining of freedoms in the city.
08/18/2020
Credit Suisse Splits Up With Australian Partner
The decision to go their separate ways came after Jarden launched a new boutique with its headquarter in Sydney, according to a separate report by «Euromoney».
08/18/2020
RBNZ Extends Mortgage Deferral Scheme Another Six Months
As of end-July, banks have deferred repayments on consumer loans totalling around NZD 21 billion for over 61,000 customers; and business loans totalling over NZD 1.2 billion for over 3,000 customers.
08/18/2020
China’s P2P Crackdown Leaves Just 29 Operators in Business
The initial scrutiny of the sector revolved around the use of unregulated and highly leveraged P2P loans to fuel margin trading in the stock market.
08/17/2020
Singapore central bank picks up 11% of ICICI Bank's Rs 15,00 crore QIP
The second-large investor is Morgan Stanley Investment Management
08/17/2020
Malaysia enters recession in Q2; central bank downgrades GDP outlook
A technical recession is defined as two straight quarters of negative GDP growth.
08/17/2020
313 people arrested for e-commerce scams and money laundering totalling over $1.2 million
During the operation, five men and four women, aged between 16 and 56, were arrested for their suspected involvement in cases of cheating and criminal breach of trust.
08/17/2020
CBIRC Projects ¥3.4tr in Bad Loans for 2020, More in 2021
According to Guo, the Covid-19 epidemic has interrupted the sales of well-run companies and compressed their orders, making the rebound of non-performing loans “inevitable”.