09/06/2019
Hong Kong, China's measures to combat money laundering and terrorist financing
Hong Kong, China actively prosecutes money laundering from domestic offences.
Legal, Regulation & Compliance
09/06/2019
National wealth fund ideas came out of Jho Low’s kitchen—former Najib aide
The TIA had sprung, as far as he understood, from a partnership between the Terengganu government and the federal government that aimed to generate funds via foreign investments.
09/06/2019
Estate planning for Asian clients in the Cayman Islands and the BVI
Many of them are unaware that the probate process can be expedited with a BVI will, but have not been advised that forced heirship laws in their home jurisdiction may override a disposition by will.
09/06/2019
Australia's Westpac faces fee-for-no-service lawsuit
The firm did not specify what damages it was seeking from Westpac
09/06/2019
Australia's Westpac faces fee-for-no-service lawsuit
Westpac said it would defend itself against the civil Federal Court claim, which was filed against two of its subsidiaries by law firm Slater and Gordon Ltd on Wednesday afternoon.
09/05/2019
India and Switzerland to share bank accounts data
Information on Indians with Swiss bank accounts will be disclosed for the first time
09/05/2019
Global Impact Award: Hong Kong Monetary Authority
Among more traditional financial players, the central bank has encouraged incumbents to embrace new technology through the work of the Banking Made Easy task force.
09/05/2019
FATF and APG Praise HKMA and the Banking Sector in Combating Money Laundering and Terrorist Financing Risks
“While Hong Kong, China has a low domestic crime rate, it faces a significant risk of attracting those who seek to launder the proceeds of crimes such as corruption and tax evasion,” the FATF said.
09/05/2019
Adding Confidence to Captives
Globally, captives are the most prominent instrument for Alternative Risk Transfer (ART) market.
09/05/2019
Schroders partners with local bank in China push
The extended agreement includes the cooperation in public and private fund management products, innovative product development, domestic and cross-border business cooperation, pension, private banking, operations, financial technology, training and knowle
09/04/2019
Singapore Police, Banks Collaborate to Thwart Scammers
The key impetus of setting up the Anti-Scam Centre is to disrupt scammers’ operations and mitigate victims’ losses.
09/04/2019
APRA updates enforcement approach
The regulator said it will take into account financial stability of organisations and make its determinations on a case by case basis.
09/04/2019
Japan's regional banks load up on risk as they fight to survive
Authorities are scrutinizing the riskier behavior, which Moody’s Investors Service says could make their earnings more volatile and increase the cost for them to comply with financial regulations.
09/03/2019
SFC Launches Risk Indicator with Too-Big-To-Fail Banks
According to the SFC, the first submission should be made electronically on or before January 31, 2020.
09/03/2019
Singapore Takes Steps to Transition Away from SOR
Given that SOR relies on USD LIBOR in its computation methodology, the likely discontinuation of USD LIBOR after end-2021 directly impacts the future sustainability of SOR.
09/03/2019
Tikehau Capital and T&D Insurance Group form strategic partnership in Japan
This agreement enables Tikehau Capital to enhance its presence in Japan, following the opening of its Tokyo office in spring 2019, and gain greater proximity to Japanese financial institutions, which have a growing interest in gaining exposure to European
09/03/2019
China P2P crackdown ensnares billionaire property tycoon
Zendai Group founder Dai Zhikang surrenders to police after collapse of lending unit
09/03/2019
CBIRC Identifies Numerous Violations at Small and Mid-sized Banks
The CBIRC also found problems with off-balance sheet business, interbank business, and wealth management business.
09/03/2019
Philippines Signs Islamic Banking Framework into Law
The new law grants Islamic banks powers to carry out the business of a bank in accordance with Sharia principles, in addition to the general powers granted to corporations.
09/03/2019
SFC removes spate of asset management licences
In August, the Hong Kong regulator removed nine licences and year-to-date, a total of 23 Type 9 licence holders have de-registered. But what are the reasons behind it?