10/29/2019
In rare win for regulators, Australia's Westpac loses case over marketing cold calls
The court gave ASIC and Westpac two weeks to agree on what public declarations the bank must give.
Legal, Regulation & Compliance
10/29/2019
Labuan IBFC Signs MoU with China Construction Bank
The MOU will allow the benefits of Labuan IBFC to be shared with CCB’s extensive clientnetwork through its 15000 branches in China and globally.
10/29/2019
Offshore: The unsilent majority
Traditionally a safe haven for offshore firms, 2019 has seen Hong Kong riven by unrest amid more than 100 days of protests.
10/29/2019
China approves more investment advisory licences
The regulator has approved five asset managers for onshore investment advisory services, continuing the shift from product sales-orientation to service-orientation
10/29/2019
Philippines plans to allow banks to set up Islamic banking units
The country has 45 universal and commercial bank groups, only one of which -- the Al-Amanah Islamic Investment Bank of the Philippines -- operates under Shariah principles.
10/29/2019
Australian watchdog slaps permanent ban on Brisbane adviser
Radke provided administrative services via a related company of Fitzpatricks Private Wealth between 2011-2018.
10/28/2019
Use of trusts in succession planning in Hong Kong
The extent of powers and functions given to a settlor, a protector and the trustee are therefore one of the most critical decisions to make when setting up a trust.
10/28/2019
Denied: memo lists Morgans’ rejection of problem-branch claims
Clients levelling claims at Morgans were instead referred to the government’s Financial Ombudsman Service
10/28/2019
DBS selects Allfunds platform
The Singapore bank has chosen the Allfunds B2B platform to access third-party mutual funds.
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.
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.