09/01/2020
Deloitte report reveals that Private Banks need to overhaul their AML processes
The survey also reports that many banks face challenges in meeting heightened regulatory expectations pertaining to AML and enforcing AML processes.
Legal, Regulation & Compliance
09/01/2020
Managers say Abe resignation won’t derail Japan’s policy efforts
Mr. Abe will remain influential within Japanese politics and the Liberal Democratic Party, which is "important from a continuity perspective.
09/01/2020
PBOC to Promote Interbank Repo Rates in Financial Products
The PBOC intends to promote the use of interbank repo rates in financial products including floating-rate bonds and floating-rate interbank certificates of deposit.
09/01/2020
Hong Kong, China regulators approve four ETFs for cross listing
The China funds will invest in the Hong Kong ETFs through the Qualified Domestic Institutional Investor programme, which allows Chinese investors to invest outside of the country.
09/01/2020
17th SSQ ALB China Law Awards 2020
The ALB China Law Awards recognise the excellence and outstanding achievements of China’s leading law firms and in-house legal teams, as well as the top deals and dealmakers of the past year.
08/30/2020
Singapore watchdog says falsehoods around financial sector hiring ‘unfair’
“Singaporeans are generally doing well in the financial sector, but MAS would like to see more of them move into the senior ranks,” the central bank said in the statement.
08/28/2020
ASIC grants frozen fund relief
ASIC is granting new relief measures to help investors facing financial hardship get access to money stuck in frozen funds.
08/28/2020
FSC Korea Extends Easier LCR Requirement Six More Months
The move is aimed at easing potential funding stress that could arise if volatility returns, and ensuring financial institutions can continue to provide funding to companies amid the Covid-19 pandemic.
08/28/2020
Bankers, lawyers on board for IOOF’s tilt at MLC Wealth
Investment bank Citi and law firm Allen & Overy are helping IOOF with its bid for National Australia Bank’s MLC Wealth.
08/28/2020
Hong Kong media executive says HSBC accounts frozen after arrest
Pompeo was retweeted by Jimmy Lai, the owner of Apple Daily and a fierce critic of Beijing, who was arrested alongside Cheung.
08/28/2020
Taiwan CSD Launches Consolidated Access to ESG Ratings
The Dashboard will be delivered on the TDCC Investor Relations Platform, an ESG initiative aimed at encouraging sustainable investing and enhancing companies’ performance on ESG issues.
08/28/2020
Aus Unity appoints CIO
Kerr-Smith said Fernandes’ leadership experience would improve the firm’s investment capability during a period of heightened economic uncertainty.
08/28/2020
Singapore Asset Manager Plans Indochina Expansion
Evergreen Assets Management is launching a fund to raise S$100 million ($73.27 million) to build on its decades-long track record of doing business in Indochina.
08/28/2020
‘Need strategic investments in redesigning anti-money laundering compliance in banking’
The report highlights siloed risk management approaches across banking operations, customer due diligence, sanctions screening and trade-based transactions as the root cause for systemic inefficiencies leading to fraud.
08/27/2020
ASIC Ends Years-old Probe into CBA’s AML Breaches
The bank ultimately settled the case for a record AUD 700 million (USD 506 million) penalty.
08/27/2020
Rajah & Tann wins Asia-Pacific Firm of the Year
The awards recognised Asia Pacific’s leading law firms in 10 practice areas, seven industries and 25 jurisdictions over the past 12 to 18 months.
08/26/2020
Cyprus Papers: secret migration of China’s rich, led by Asia’s richest woman, revealed in leaked documents
Chinese citizens may apply for permanent residency or citizenship in foreign countries, but obtaining citizenship abroad generally means losing Chinese citizenship
08/26/2020
Is the Asia passporting scheme on a standstill?
Fund managers are still waiting for the launch of the first ARFP fund.
08/26/2020
Malaysia and Indonesia regulators ink fintech pact
The regulators have agreed to establish a “collaborative framework to develop the fintech ecosystem in both markets”, the SC says in a statement on August 24.
08/26/2020
Bank of China provides B-loan financing on Kazak ring road
Sixty-six kilometre project will increase transit throughput, reduce local air pollution