03/31/2020
MAS Monetary Policy Statement - April 2020
The measured adjustment to the policy stance was assessed to be appropriate given muted inflationary pressures.
Legal, Regulation & Compliance
03/31/2020
Noah Singapore granted Capital Markets Services licence
The firm states that it is actively expanding its global footprint and has established a strong presence with offices in Hong Kong, Jersey, New York, Silicon Valley, Vancouver, Melbourne, and now Singapore.
03/31/2020
Australia pension industry will face scrutiny if withdrawals can't paid
As part of Australia's fiscal stimulus package worth 10% of its gross domestic product, the government this month announced measures allowing workers to take up to A$20,000 out of their superannuation savings over the next two years in response to th
03/31/2020
People’s Bank of China’s RMB 10 Billion Six-month Bills Offering In Hong Kong SAR
PBOC’s continuous issuance of RMB Bills in Hong Kong SAR helps further cultivate the range of high credit rating RMB investment products and RMB liquidity management tools in Hong Kong SAR
03/31/2020
Coronavirus: Stay Tuned – Hong Kong to resurrect Chapter 11–style corporate rescue bill
The major drawback is the lack of a statutory moratorium of legal claims against the company, and any creditor not contractually bound could petition to wind up the company and derail the restructuring efforts.
03/30/2020
Noah Singapore gains capital markets services licence
Noah Holdings Singapore is a wholly owned subsidiary of Noah Holdings Limited, which is based in Shanghai, China.
03/30/2020
Nomura's new CEO faces tough initiation juggling overhaul and virus
This latter piece will demand Okuda’s attention as he takes forward a sweeping overhaul of Nomura even with the outbreak creating fresh challenges.
03/30/2020
Challenger shuffles life portfolio asset allocations
Challenger is also currently redeeming absolute return fund holdings, which is expected to complete by end of this month.
03/30/2020
China Financial Technology and Regulations: Monthly Update – March 2020 Issue
The measures also clarify the responsibilities of trust companies, including during a change in equity, on equity-related affairs and also in managing shareholders’ behaviour.
03/30/2020
Westpac still some way off settlement with AUSTRAC, court hears
The court ordered the regulator and Westpac to produce a partial statement of agreed facts and admissions, despite protests by AUSTRAC.
03/30/2020
COVID-19: Audi, McDonald’s And Other Brands Redesign Logo To Promote ‘social Distancing’
Meanwhile, several corporate brands have come up with innovative ideas to promote the message of social distancing at the time of the public health crisis.
03/27/2020
Singapore’s GDP contracts sharply on virus pandemic
Singapore is one of the first economies to report growth data since the virus outbreak began, and the dismal figures add to signs the world is heading for a deep, painful recession with more than three billion people now under lockdown.
03/27/2020
Labuan IBFC's Financial Services Community Band Together to Contribute to the Relief Efforts in Combating COVID-19
The Labuan IBFC Community is deeply concerned about the growing scale of the COVID-19 pandemic and its social and economic impact, particularly on Labuan island.
03/27/2020
Super scammers pose as authorities
One superannuation member the scammers would not have hoped to answer their unsolicited calls is Argurion Finance Group principal Chris Craggs.
03/27/2020
FraudWatch International to Actively Target and Take-Down COVID-19 Online Scams
They use COVID-19 as the theme to lure victims into opening malicious attachments or visit fraudulent websites to disclose personal information or credit card details.
03/27/2020
Former AMP adviser sentenced
In May 2019, Martin pled guilty to offences that saw him dishonestly obtain $208,000 in client funds.
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.
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.