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.
Legal, Regulation & Compliance
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”.
08/14/2020
RBNZ Announces Expansion of Large-Scale Asset Purchases
In May, it was expanded from NZD 33 billion to NZD 60 billion, and New Zealand government inflation-indexed bonds were included in the programme.
08/14/2020
FinCEN to Lift 13 Year Old Sanctions on Macau’s Delta Asia Bank
Delta Asia Financial Group chairman Stanley Au said the lifting of the was the result of “15 years of an unrelenting effort” and an important step forward for the bank.
08/14/2020
iProsperity accused of being a Ponzi scheme
Further evidence of director loans showed that Gu was paid $21 million since July 2018.
08/14/2020
Global Anti-Money-Laundering Fine Amounts Released
For years the U.S. has led the way in imposing major anti-money laundering (AML) fines, but regulators in Europe have recently started taking a much tougher line.