05/18/2020
Singapore central bank spearheads S$6 million grant for fintech firms
There are two components to the grant.
Legal, Regulation & Compliance
05/18/2020
Coronavirus: Asian companies seek emergency cash via rights issues to plug holes in balance sheets
Companies from Singapore to India raises billions via rights issues
05/18/2020
HK Police Arrest Three in HK$54m Money Laundering Case – Report
One of the victims was a 76-year-old woman, who lost HKD 25 million after being tricked into revealing her personal data and online banking details by fraudsters impersonating Mainland officials.
05/18/2020
Granting UBS a digital banking license could be a win-win for China
It has to be underlined that UBS' ambitious plan depends on securing a digital bank license to operate on the Chinese mainland, and its success will also depend on the fierce competition of domestic players such as Alibaba's MYBank, Tencent&
05/18/2020
Bankruptcy case casts doubt on US$96 billion of offshore Chinese bonds claims, puts pressure on financial products skirting capital controls
Around 16 per cent, or US$96 billion, of outstanding Chinese offshore bonds contain keepwell provisions: Redd
05/18/2020
Appleby Hong Kong Partner Fiona Chan and Counsel Vincent Chan are named in the Asian Legal Business Offshore Client Choice List 2020
The recognition marked the culmination of extensive research conducted by ALB which involved collating hundreds of questionnaires in their annual client survey with leading in-house counsel, lawyers in the onshore space and referees from financial institu
05/18/2020
Westpac Admits to Money Laundering Breaches
While admitting to the breaches, the Sydney-headquartered lender denied accusations that it enabled illegal payments between known child sex offenders including in the Philippines.
05/18/2020
Bankruptcy case casts doubt on US$96 billion of offshore Chinese bonds claims, puts pressure on financial products skirting capital controls
From British bank HSBC suspending dividend payments to rising defaults on payments due to bondholders, borrowers and governments are riding roughshod over investors' rights as they grapple with the fallout from the novel coronavirus pandemic.
05/15/2020
Clifford Chance advises on US$500m bond offering by Indonesia's Bank Mandiri
Bank Mandiri's transaction comes as Indonesia continues to battle the effects of the COVID-19 crisis.
05/15/2020
BIS Calls for Global Cooperation to Mitigate ‘Green Swan’ Risks
Due to the complexity of green swans, no single actor, whether national or global, will have a silver bullet for their solution, the paper says.
05/15/2020
ASIC Withdraws Trading Limits Imposed on Equity Market Participants
ASIC will continue to engage with participants, and take further actions where necessary and appropriate, to ensure that equity markets remain fair, orderly and resilient.
05/15/2020
Westpac files defence over AML failings
The defence also provides some explanation and clarity around a number of the allegations
05/15/2020
China Blacklists Six Executives Linked To $4.2 Billion Fraud
The China Securities Regulatory Commission also ordered the company, a producer of traditional Chinese medicines, to pay a 600,000 yuan ($84,558) fine.
05/14/2020
New S$6 Million Grant Scheme to Support Singapore FinTech Firms
Applications for the Grant will open on 18 May 2020 and will be available until 31 December 2021.
05/14/2020
China regulator permits Hannover Re branch to increase capital
CBIRC says seven foreign reinsurers, including Korean Re and Gen Re, and three domestic players have been licensed as of December.
05/14/2020
ME Bank pays industry funds no dividends
During the previous hearing of the committee, Wilson had also asked Industry Super Australia chief executive Bernie Dean whether ISA employs Beck.
05/14/2020
Adviser guilty of misuse of client money
The charges carry various maximum penalties of between 10 to 14 years' imprisonment.
05/14/2020
ASIC secures $160m in remediation over junk credit insurance
Over $160 million will be back in the pockets of close to half a million consumers sold this junk insurance.
05/14/2020
Canadian pension funds halt India investments over virus
A pause in investments by these major pension funds reflects a mood of risk aversion among institutional investors, which are now focusing more on protecting their existing investments instead of making more capital commitments.
05/13/2020
Indonesia scraps 999.6 trillion rupiah debt sale, turns to domestic issuance
The money raised will be used to finance the combined 436 trillion rupiah in three stimulus packages introduced to cushion fallout from the coronavirus pandemic, and for other development spending.