10/28/2019
Cayman ‘Economic Substance’ Crackdown Impacting HK Hedge Funds
In short, the new ES legislation will impact on the fund industry in Hong Kong to the extent any offshore entities are utilised.
Legal, Regulation & Compliance
10/28/2019
No precious stone left unturned: the burden of AML compliance in Singapore
Now, the new law mandates customer due diligence not just for transactions that bust that budget, but also if the dealer suspects money laundering or has doubts about other information that was given by the customer.
10/28/2019
Philippines Central Bank Issues Islamic Finance Rules by Year-End
Fonacier's statement was made close on the heels of the Filipino government’s enactment of a law to promote Islamic finance which was signed by President Rodrigo Duterte in late August.
10/28/2019
Australian Watchdog Imposes Restrictions on Wealth Manager IOOOF
ASIC will use its licensing power, including through the imposition of tailored licence conditions to address governance weaknesses
10/27/2019
HSBC to embark on job cuts across the MENA region in November
The global banking and markets and commercial banking units may bear the brunt of the reductions, sources said
10/25/2019
Singapore Doesn’t See Significant Inflows From Hong Kong as Protests Rage
Singapore’s officials have emphasized that the disruptions in Hong Kong aren’t helpful for the region’s economies, even as some figures suggest it’s gaining from the turmoil in its financial-center rival.
10/25/2019
Aberdeen Standard launches its first Fixed Maturity Product
The fund has been reported to have raised over USD120 million across Europe and Asia.
10/25/2019
What Are The Key Trends Shaping The Fund Finance Industry In Asia?
The event aims to bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market.
10/25/2019
Mourant Partners once again named 'leaders in their fields' by Who's Who Legal Aviation: 2020
In the last 12 months the team, which is widely recognized in the aviation finance sector for its expertise, won the ‘Overall Deal of the Year' award at the Airfinance Journal Awards.
10/25/2019
Australian regulator suspends AFS licence of KP International Group
ASIC also found KP International’s professional indemnity insurance cover had exclusions that made it inadequate for the licensee’s business and any liabilities arising from potential compensation claims.
10/25/2019
An Australian regulator’s view on financial technology
A speech by ASIC Commissioner Cathie Armour at the China Financial Summit 2019, 22nd China Beijing International High-Tech Expo, Beijing, 23 October 2019.
10/25/2019
Singapore sees cash starting to flow from turbulent Hong Kong
The extra cash is welcome news for Singapore, whose economy is slowly slipping towards a recession as speculation grows that Prime Minister Lee Hsien Loong will announce an election well before one is due in April 2021.
10/25/2019
Malaysia regulator gives green light to two robo-advisers
oday, Malaysia has three licensed and fully operational robo-advisors — namely StashAway, MyTHEO and Wahed Inc.
10/24/2019
The global war on money laundering is a failed experiment
The deeper problem isn’t that national anti-money laundering laws are being flouted.
10/24/2019
Three accused of cheating victims out of $3.6m
Financial-sector staff also charged with criminal breach of trust, money laundering
10/24/2019
Forum: Strict scrutiny needed to keep dirty offshore deals out of S'pore
And it has done reasonably well so far in putting in place due-diligence requirements for financial institutions that handle wealth on behalf of both local and offshore entities.
10/24/2019
Meeting the Regulatory and Compliance Challenges that Lie Ahead
Staying ahead of the game - A firm-wide commitment to compliance Guests agreed that it is essential to take a proactive approach to regulation and compliance
10/24/2019
MUFG and SAGIA promote Japanese investment in Saudi Arabia
The Kingdom has some of the largest oil reserves in the world and is a major producer and exporter of energy.
10/23/2019
Singapore and China Regulators Reaffirm Cooperation Commitments
This MOU affirms the close partnership between both regulators.
10/23/2019
Fosun Considers Bid for German Bankhaus Lampe
Sources also added that KPMG is currently advising the Oetker family, the controlling shareholder, on the potential sale of Bankhaus Lampe.