09/18/2020
Grow Super founder pleads guilty
Grow Super founder Josh Wilson and former Grow employee Ben Trevisiol have plead guilty to using insider information to place a bet.
Legal, Regulation & Compliance
09/18/2020
Harneys advises Fulu Holdings Limited on its HK$826.6 million IPO
The Harneys team was led by Partner Raymond Ng with support from Legal Manager Nicholas Fong.
09/17/2020
UOB freezes wages, slows hiring amid continued fallout from Covid-19
Other banks indicated that they may take steps to keep a lid on costs.
09/17/2020
Korean Financial Groups to Start Publishing Integrated Disclosures
Pursuant to the best practice guidelines on the supervision of financial conglomerates
09/17/2020
Hong Kong Banking Compliance: A Convolution of Contradictions
Global banks have always lived in contradictions
09/17/2020
Malaysian FIs to Pilot Implementation of Climate Risk Taxonomy
According to the joint statement, a revised document will be published in early 2021
09/17/2020
Bank of Japan keeps policy on hold, upgrades economic view
The BOJ revised its assessment of conditions, saying the economy has started to pick up with activity resuming gradually.
09/17/2020
Aware Super joins forces with Dutch pension fund
Following the agreement, APG and Aware Super hold an equal economic interest in City ID, which the Dutch pension fund acquired a stake of in 2019.
09/16/2020
Singapore trader Rhodium sued by Maybank for US$3m payment
The Kuala Lumpur-based bank didn't accuse Rhodium of any wrongdoing, or provide reasons for the default.
09/16/2020
Thailand’s SEC Proposed to Raise Fees on Futures Trading
The SEC says it is “still assessing the new fee structure” and will evaluate opinions received from business operators, the SET (Stock Exchange of Thailand) and other stakeholders in the capital market.
09/16/2020
APRA, ACCC Update MoU on Financial Sector Cooperation
APRA and the ACCC also agree to seek input from, or collaboration with, each other to achieve or improve regulatory outcomes, particularly in policy development, industry consultation, and statistical collections.
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.
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.