03/27/2020
MAS Releases USD Auction Details
It aims to support more stable USD funding conditions in Singapore, and facilitate USD lending to businesses in Singapore and the region.
Legal, Regulation & Compliance
03/27/2020
Offshore Business Update: Hongkong
We will also provide links to updates in the offshore jurisdictions for which we offer legal advice
03/27/2020
PNP files charges against fake news purveyors on COVID-19 crisis
PNP Spokesperson BGen. Bernard Banac warned that "the PNP is dead serious to continue to take countermeasures against misinformation through cyber patrol operations and monitoring on all social media platforms.
03/27/2020
MAS Supports USD Lending through a New US$60 Billion Facility for Banks
It will also contribute to global efforts by central banks to maintain stability and normal functioning of financial markets.
03/26/2020
Tax in the time of COVID-19
The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.
03/26/2020
Coronavirus Job Listings and Money Laundering Schemes
Scammers posing as a legitimate charity foundation are hiring online customer service representatives that are required to do some groundwork in an initial stage.
03/26/2020
ICAC Charges Ex-HKEX Official for Bribery, Misconduct
The case is said to involve a total of HKD 9.15 million (USD 1.2 million) in bribes in connection with the IPO applications of various listed companies.
03/26/2020
Hong Kong Court looks again at the Rule in Gibbs in China Singyes
The proposed schemes, promoted in Hong Kong and Bermuda, sought to compromise those debt securities with US$41.4 million paid upfront and new notes being issued to the value of the remaining debt.
03/26/2020
Appleby Advises DBS Bank on Financing for Privatisation
The team advised DBS on the debt and security structure from a BVI and Cayman Islands law perspective and assisted them throughout the transaction as offshore counsel.
03/25/2020
Appleby advises DBS Bank on financing for privatisation
The transaction was led by Partner Fiona Chan, who was supported by Associate Karina Li.
03/25/2020
SEBI Grants Compliance Relief to Fund Managers, Brokers, Issuers
Late last week, SEBI also announced more stringent rules on short-selling in a bit to curb speculation.
03/25/2020
Malaysia Suspends Short-selling, Grants Relief to Licensed Entities
Separately, the SC has announced further relief measures for licensed entities and individuals, including annual licensing fee waivers and reductions of CPE (Continuing Professional Education) and professional training requirements.
03/25/2020
Holding the Line on Ultimate Beneficial Ownership
To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a
03/25/2020
Ex-Hong Kong exchange official charged for accepting HK$9.15m in bribes
The other bribery charge alleges that on or about December 21, 2017, Lum offered the HK$2m to Yeoh for the same purpose.
03/24/2020
MAS bans ex-insurance agents, bank staff for fraud
Chew and Yap will be imprisoned for 45 and 42 months, respectively. William Lin, former representative of OCBC Bank, was issued an eight-year prohibition order and will be jailed for 16 months for cheating a client.
03/24/2020
Australia's pensions industry in urgent talks on coronavirus crisis changes
Talks between industry representatives, the government and the country’s top regulators on how the changes will affect the industry during a time of financial market upheaval only began on Monday.
03/24/2020
Singapore and Australia Agree to Enhance Data Connectivity in Financial Services
The DEA ensures that financial institutions operating in Singapore and Australia are able to transfer information that they generate or hold more seamlessly across borders.
03/24/2020
Hong Kong Court’s first consideration of PRC law governed debt in sanctioning a scheme of arrangement: Gibbs Rule revisited
Confirming that in assessing this, the Court would take a robust and practical approach.
03/24/2020
Australia Unveils Stage Two Economic Package Worth A$66.1b
The first stage package was announced earlier this month
03/23/2020
China cbank official expects significant improvement in Q2 economic indicators
China’s economy is widely expected to contract in the first quarter due to measures to curb the spread of coronavirus.