08/22/2019
ASIC wealth management investigations soar by 216%
Crennan, who is also the sponsoring commissioner for ASIC’s Office for Enforcement, said he hoped the use of regtech would lead to a fall in the number of ASIC enforcement actions
Legal, Regulation & Compliance
08/21/2019
World Bank issues second tranche of blockchain bond
The subsequent issuance builds on the success of the platform taking the total capital raised to A$160 million and further enables capital markets to leverage distributed ledger technologies for faster, more efficient, and more secure transactions.
08/21/2019
The ridiculous new laws that could see Australians JAILED for paying cash sums of more than $10,000 - as fears mount of a 'destructive' recession
Since the Federal Government first announced the proposed law during the 2018-19 budget, critics have openly slammed the idea.
08/21/2019
Super fund renews admin contract
The key terms of the contract include a fixed core fee in conjunction with variable based fees for core engagement services, transactional fee and fee for service charges for additional services.
08/21/2019
IOOF establishes super trustee office
Specifically, IOOF pointed out it has now actioned four items relating to the implementation of the Office of the Superannuation Trustee, which it failed to set up before its March 31 deadline earlier this year.
08/21/2019
DLF Investors Could Lose 95% of Principal If Interest Rates Remain at Current Level
DLF and DLS products are derivatives linked to the interest rates of major countries.
08/21/2019
ASIC to review industry transition towards ending grandfathered remuneration for financial advice
ASIC will also investigate any impediments to this transition, and the extent to which benefits are being passed on to affected clients.
08/21/2019
The views of participating shareholders prevail in solvent liquidations
As a matter of general principle, the court accepted that in the context of an investment fund
08/21/2019
Appleby Helps Over 1,500 Clients With Economic Substance Tool
We pride ourselves in providing comprehensive, multi-jurisdictional legal advice at the times most beneficial to our clients
08/20/2019
China’s Central Bank Bids to Join the Grown-Ups
Setting a regular date and time for a new rate brings Beijing closer to peers such as the Federal Reserve and European Central Bank.
08/20/2019
ASIC accelerates enforcement
In the same period last year, just 68 people were banned from providing financial services or credit.
08/20/2019
80 Percent of Thai Wealth Held Onshore
Lombard Odier’s ventures into building onshore revenue lines have been supported not only by its investment capabilities but also through effective delivery to meet non-investment needs.
08/20/2019
Singapore to raise retirement age reflecting global trend
Countries around the world are increasing retirement ages as they face demographic pressure and slowing economies
08/20/2019
NAB obtained evidence from UAE against Zardari money laundering
The arrest warrants against Nasser Abdulla have been cancelled; however, the final decision on his plea to become the approver will be made by NAB Chairman Justice (r) Javed Iqbal.
08/19/2019
ANZ, NAB to call for clarity at lending inquiry
Representatives from NAB and ANZ will speak at a public hearing in Melbourne on Monday held by the Australian Securities and Investments Commission regarding its revised Regulatory Guide 209
08/19/2019
Goldman’s Star in Hong Kong Turns Into 1MDB Scandal’s Enigmatic Man
Now as the U.S. weighs how to handle Goldman Sachs, Vella is the mystery man to watch.
08/18/2019
Woori, Hana Bank face inspections for mis-selling allegations
The DLFs that have come under scrutiny are those comprised of DLS products that have been tied to yields on Treasury bonds of Germany, the U.K. and the U.S.
08/18/2019
The way back to black: Saving a sinking company is tricky in a sea of divergent interests
Sometimes, these companies are just collateral damage in a sector downturn - for instance, the 2015 oil price rout that claimed companies such as Swiber Holdings, Ezra Holdings, Pacific Radiance and Technics Oil & Gas as hapless victims.
08/18/2019
NZ Inland Revenue lays out ruling on how to pay staff in cryptocurrency
There will be strict rules, and different types of cryptocurrency will be taxed differently.
08/16/2019
Hong Kong Faces New Threat as Chinese Companies Reconsider IPOs
Another banker said at least two companies are considering the same move for IPOs worth a combined $1 billion, adding that final decisions will depend on market conditions and whether the turmoil in Hong Kong eases.