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.
Legal, Regulation & Compliance
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The central bank has superseded the bank’s Board, placed a 30-day moratorium on it, and imposed a INR 50,000 limit on cash withdrawals – while it finalises a rescue plan.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.
03/11/2020
Will India’s Proposed Data Protection Law Protect Privacy and Promote Growth?
To better balance privacy and innovation, India’s data protection legislation must be narrowly focused and designed to protect individuals and society against any injury resulting from data processing.
03/10/2020
JPM AM to launch two equity products in Singapore
This move comes after the firm registered a multi manager hedge fund with the MAS in January.
03/10/2020
Hong Kong's stricter ESG disclosure rules may lure Western investors
The Hong Kong Exchanges and Clearing Ltd unveiled the new rules in December.
03/10/2020
Singapore banking sector downgraded by analysts as the Fed slashed rate
The analysts also accounted for the “highly probable” 25 to 50 basis point rate slash in the upcoming Federal Open Market Committee meeting. They opined that “the resilience in Singapore dollar rates may falter”.
03/10/2020
Australia: ‘Perfect Storm’ of Regulatory Change Squeezing Smaller Banks
COBA is additionally calling for the government to “think carefully about phasing and targeting” the wave of regulatory change already queued up for implementation over the next few years.
03/10/2020
IFC invests in Bank OCBC NISP gender and green bonds
Investment aims to reduced gender inequalities and help Indonesia reach greenhouse gas emission targets
03/09/2020
ACC okays charge sheet against ex-AB Bank chair, 7 others
The commission director for public relations Pranab Kumar Bhattacharjee said that the commission’s investigation found that the money was siphoned off to the UAE by two business firms.
03/09/2020
AUSTRALIA: Expanded definition of significant global entity proposed
The changes originally were announced as part of the 2018-19 Federal Budget.
03/09/2020
Philippine Lawmakers Warned of Urgent Need to Pass AML Reforms
If the AMLA amendments are not passed, the Philippines will be grey-listed.