10/17/2023
Australia Plans to Require Licenses for Crypto Exchanges
The proposed rules, which are inspired by frameworks used in the UK, Canada and Singapore, will also include custody and transaction standards.
Legal, Regulation & Compliance
10/17/2023
“How the Financial Advisory Industry Can Serve Customers Better with 3 ‘T’s – Technology, Training and Trust”
MoneySense’s aim is to uplift Singaporean’s financial health and habits, and unbiased financial advice is certainly a key contributor to this outcome.
10/16/2023
Two Hong Kong Banks Violate Korean Short Selling Ban
Two unnamed Hong Kong-based investment banks had engaged in naked short selling transactions, according to a statement by South Korea’s Financial Supervisory Service (FSS), which is banned in the country.
10/13/2023
Harneys advises Maiyue Technology Limited on its Hong Kong IPO
The team’s significant track record includes advising on high-profile private equity transactions, landmark IPOs, as well as public and private M&A and joint ventures.
10/13/2023
MAS MD Ravi Menon received the Distinguished Leadership and Service Award from the Institute of International Finance
The IIF’s Distinguished Leadership and Service Award is bestowed on individuals who have made sustained contributions to the global economy through public service.
10/12/2023
ABN Amro ends corporate banking services as it surrenders licence here; clearing services unaffected
It planned to cut up to 800 jobs or a third of its corporate and institutional banking unit in a process that would take three to four years.
10/12/2023
Goldman Sachs Sues Malaysia in 1MDB Case
Roger Ng Returns to Malaysia
10/11/2023
What BCG, McKinsey revealed to the consulting inquiry
The committee also heard how BCG helps staff manage their workloads, while McKinsey said the PwC tax leaks scandal had been a “serious breach of trust in the consulting services industry in Australia”.
10/11/2023
APRA consults on increased transparency of super fund expenditure
APRA has written to superannuation trustees inviting their feedback on its plans to publish total fund expenditure and expanded asset allocation data by mid-2024.
10/11/2023
ASIC announces action against 11 SMSF auditors
All 11 SMSF auditors were referred to ASIC by the Australian Taxation Office
10/11/2023
Stephenson Harwood (Singapore) Alliance advises BNP Paribas on four JOLCOs
This follows the firm's involvement in Cetus Maritime's financing of two bulk carriers by a regional bank based in Japan earlier this year.
10/10/2023
Singapore banks sharpen scrutiny after $2 bln money laundering scandal
In a statement, the Monetary Authority of Singapore said financial firms must verify customers' identities, establish the sources of wealth and funds of higher-risk clients, and keep track of transactions.
10/06/2023
HKPF and SFC establish joint working group on VATPs
The working group was established after a high-level meeting of the two parties on 28 September 2023.
10/06/2023
Ex-Goldman Banker Will Return to Malaysia
The proposed schedule is agreed by Ng’s lawyers.
10/06/2023
Harneys advises 17Live on de-SPAC business combination
Harneys has a leading Equity Capital Markets practice with substantial experience regarding all aspects of capital raising by offshore companies
10/06/2023
Ocorian completes acquisition of Asia-Pacific Accounting & Secretarial Services (A-Pass)
This acquisition adds scale to Ocorian’s existing business in Asia creating a combined business with the ability to serve a broader range of clients’ requirements.
10/05/2023
MAS: Possible Family Office Links in Laundering Case
Ongoing investigations and supervisory engagements suggest that one or more of the accused persons in this case may have been linked to SFOs that were awarded tax incentives
10/04/2023
Cbus scolded over 'most galling conflict' in super
He questioned the rationale behind the commitment of $500 million of members' money to the HAFF, when the fund itself appears to have had "major doubts" about the bill.
10/02/2023
ASIC remakes sunsetting legislative instruments on takeovers, compulsory acquisitions and relevant interests
Based on consultation feedback, ASIC considered that the sunsetting instruments were operating effectively and efficiently and continue to form a necessary and useful part of the legislative framework.
10/02/2023
SFC publishes lists of virtual asset trading platforms
VATPs planning to apply for a licence with the SFC are reminded to submit fully completed applications with all the necessary information and documents, including external assessment reports.