08/30/2019
Chinese Regulators Vow to Bring Quality Deals to Market
Investment bankers in China scrambled last weekend to update their clients about new opportunities in the Chinese IPO market.
Legal, Regulation & Compliance
08/30/2019
MAS Opens Applications for Digital Bank Licences
Digital full banks will be allowed to take deposits from and provide a wide range of financial services to retail and non-retail customer segments, while digital wholesale banks will be permitted to serve SMEs and other non-retail segments.
08/30/2019
Professional services alliance BOKS adds two new members in Asia
Geared toward SMEs seeking a “cost-effective, flexible networking alliance that facilitates global business opportunities”, BOKS is aiming to enter the top twenty before the end of next year.
08/30/2019
Malaysia Is Revising Rules Against Money Laundering
BNM to pursue more deterrent action against money laundering
08/29/2019
Ex-Commonwealth Bank Manager Stole Money to Gamble, Jailed for Fraud
Made large cash withdrawals to gamble; claimed purchase refunds to personal bank account
08/29/2019
No extension to FASEA deadline
Asked by Financial Standard whether a deadline extension is still on the cards, Senator Hume said: "I think we can say that we have heard the concerns and some of my concerns around the deadlines are really more about accessibility."
08/28/2019
Australia's watchdog bans financial adviser
ASIC said that, when providing personal advice, Goudie did not adequately identify his clients' objectives, financial situation and needs or investigate whether the financial products he was recommending would meet their needs.
08/28/2019
Fake-branded bars slip dirty gold into world markets
Fake gold bars - blocks of cheaper metal plated with gold - are relatively common in the gold industry and often easy to detect.
08/27/2019
SFC: Some Fund Managers Have Inadequate Liquidity Risk Management
The SFC reminds fund managers to implement robust risk management systems and establish well-documented liquidity risk management policies and procedures for the funds they manage.
08/27/2019
HKMA Liquidity Facilities Framework for Banks
The updated Liquidity Facilities Framework makes operational an important part of the resolution regime in Hong Kong and takes forward a key recommendation of the Financial Stability Board’s 2018 Peer Review of Hong Kong.
08/27/2019
Banks told to tighten security after payments data breach
The attack is the second breach of the PayID system since June and has experts asking why extra protections were not in place to prevent it from happening again.
08/27/2019
Consumers see value in financial advice, but lack of trust remains an issue
The move is part of a broader set of reforms aimed at increasing transparency in financial services, which includes Parliament giving ASIC power to collect and publish internal dispute resolution data at the firm level.
08/27/2019
What the renminbi breaking 7 means for China’s economy, credit markets
The depreciation of the renminbi will have an impact, but strong Chinese corporates should be well positioned to withstand further falls
08/26/2019
US government pension fund urged to reverse China investment
Senators say FRTIB is supporting Beijing’s military, espionage and security efforts
08/25/2019
ASIC sues NAB for unlicensed home loan introducers
n one of the first pieces of litigation as a result of the Royal Commission, the Australian Securities and Investment Commission (ASIC) has sued the National Australia Bank (NAB) for dealing with unlicensed home loan introducers.
08/25/2019
Taiwan's efforts to fight money laundering hailed by regional organization
Annual meeting of Asia-Pacific Group on Money Laundering held in Australia last week 865 google_plus_share
08/23/2019
Hong Kong Judge Orders Confiscation of Former UBS Exec's Bribes
Although Tu did not make a remark of “20 per cent” on the trade summaries, the client understood that he had to pay about $850,000 to Tu.
08/23/2019
Global businesses stick to caution in Hong Kong
They find there is a heavy price to be paid in access to the mainland if they don’t
08/23/2019
Carey Olsen among finalists at ALB's Hong Kong Law Awards
Winners of the Macallan Asian Legal Business Hong Kong Law Awards 2019 will be announced at a ceremony at JW Marriott Hotel Hong Kong on Friday 6 September.
08/22/2019
DC Circuit Court Requires Subpoenaed Chinese Banks to Produce Documents in Money Laundering Case
The banks requested that the US government submit a formal request for the records to the Chinese government through the Mutual Legal Assistance Agreement.