03/17/2020
J.P. Morgan and Macquarie Expand Work-From-Home
We are actively reviewing how we can best support you at this time,» the group said in an internal memo.
Legal, Regulation & Compliance
03/17/2020
CBA in court over RC case studies
It also alleges CBA breached sections 131(1) and 133(1) in failing to assess that the credit limit increase was unsuitable and in subsequently providing the credit limit increase.
03/16/2020
PBOC Announces Second Reserve Requirement Cut of 2020
The central bank has been encouraging banks to lend more to small firms and other vulnerable sectors, and to tolerate late payments
03/16/2020
Appleby Advises Infrared NF On Its USD45.9 Million Financing Investment In China
The team advised InfraRed NF on the debt and security structure from a BVI and Cayman Islands law perspective and assisted them throughout the transaction as offshore counsel.
03/13/2020
Health crisis should not be allowed to morph into a banking crisis
Fiscal and monetary measures by authorities aimed at counteracting stuttering or contracting economies will end up coming back to haunt the banks
03/13/2020
Wirecard and Grab Announce Payments Partnership
Through this partnership, Wirecard will process card transactions for GrabPay via its digital financial commerce platform and will extend GrabPay to more merchants to expand the acceptance of the mobile payment method.
03/13/2020
Financial adviser pleads guilty to multi-million fraud
‘Many victims lost their retirement savings and are not in a position to recover financially’
03/13/2020
Singapore Financial Markets Functioning Well Despite Heightened Volatility
The nominal effective exchange rate of the Singapore Dollar has eased in an orderly manner within the MAS policy band, in line with weakening economic conditions.
03/12/2020
Kyobo Securities freezes withdrawal from overseas fund, stokes fund scare
WBL still operates as normal despite liquidity problem, it added, and the company has opted to agree on the withdrawal suspension for fear of rising uncertainty before redemption.
03/12/2020
Philippine pension SSS inks pact to provide insurance for pensioner loans
Borrowers cannot be more than 85 years old by the end of the repayment period, and must not have any other outstanding loan with the SSS.
03/12/2020
Nair & Co, PK Wong & Associates merge to form full-service law firm
The new entity, which now has a total of 23 lawyers
03/12/2020
Hong Kong resurrects Chapter 11-style corporate rescue bill after a 24-year hiatus as Singapore powers ahead with reforms
The government plans to finalise its proposal and potentially table a bill during the legislative session beginning in October, official says
03/12/2020
ASIC Finalises New Licensing Framework for Foreign Firms
From 1 April, new foreign providers may apply to obtain a ‘foreign AFS’ licence to provide financial services in Australia to wholesale clients
03/11/2020
South Korea's Central Bank Burns And Quarantines Cash
The Bank of Korea said it is also putting currency notes through a high-heat «laundering» process before releasing them for circulation.
03/11/2020
Singaporean tycoon sues Concord Pacific president for $245 million
Oei and his companies, Hong Kong Expo Holdings Ltd. and Canadian Metropolitan Properties Corp., filed a notice of civil claim in BC Supreme Court on March 3
03/11/2020
Challenging times: The effect of an economic downturn on divorce settlements
Particular care should therefore be taken in such an economic environment.
03/11/2020
KPMG makes note of Key Risk and Regulatory Developments
Moving on from Covid-19, Data standards are discussed, as the SFC is seeking to standardise the data that Licensed Corporations need to hold and produce
03/11/2020
India: Yes Bank Co-founder Arrested Over Illicit Kickbacks
The central bank has superseded the bank’s Board, placed a 30-day moratorium on it, and imposed a INR 50,000 limit on cash withdrawals – while it finalises a rescue plan.
03/11/2020
Life insurers breach own code consistently
"I applaud the LCCC for taking these breaches seriously and for using them to identify the continuing systemic problems within the industry."
03/11/2020
Tardy price disclosures a risk to watch in private banking chase
In the 31-page report, the regulator detailed observations from thematic inspections of unidentified private banks in Singapore, and set out supervisory expectations.