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.
Legal, Regulation & Compliance
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.
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