05/28/2019
11 Indians get notices in a day as Switzerland steps up process to share banking information
In April also, some such notices were issued including to one Mrs. J N V, as also to Mr. Kuldip Singh Dhingra and Anil Bhardwaj, among others.
Legal, Regulation & Compliance
05/28/2019
ASIC employee default superannuation fund
There is no change to arrangements for existing employees, including those who are members of Commonwealth Superannuation Scheme (CSS), Public Sector Superannuation Scheme (PSS) and Public Sector Superannuation accumulation plan (PSSap).
05/28/2019
India-Marshall Islands tax information exchange agreement enters into effect
This information generally relates to the determination, assessment, and collection of taxes; the recovery and enforcement of tax claims; and investigations, including prosecutions.
05/24/2019
Tokyo-Vegas investment chief gets 50 years in huge scheme
Fujinaga blamed changes in the dollar-to-yen exchange rate for problems while he headed MRI International Inc. for more than a decade.
05/24/2019
Former Beacon adviser banned
The banning order was made under the Corporations Act 2001 sections 920A(1) and 920B(2).
05/24/2019
Ogier recognised for work on Takeda's £46 billion acquisition of Shire
The deal became the highest value scheme to pass before the Royal Court in Jersey
05/24/2019
Malaysian police raid Deloitte office for 1MDB-related documents: sources
A representative for Deloitte could not be immediately reached for comment.
05/24/2019
Two Ogier partners make Asian Legal Business top ten offshore lawyers list
Individual recognition is always very welcome, but it reflects another year of hard work by our growing team
05/23/2019
Singapore sets up industry group to improve banking conduct standards
It comprises members from 12 other banks in Singapore, who have responsibilities in business, risk management and compliance.
05/23/2019
China proposes updated rules for online trading operators
They are open for public comment until 29 May 2019.
05/23/2019
HKMA takes first step towards regulating the use of big data analytics and artificial intelligence in FinTech
The EAF is expressly stated to be non-binding guidance, intended as a first step towards a privacy regime better equipped to address modern challenges.
05/23/2019
ASIC bans adviser over super theft
ASIC found McSweeny fraudulently misappropriated company money, used the company structure for his own dishonest means, showed a complete disregard of his director duties and failed to observe requirements to lodge documents with Australian Tax Office.
05/23/2019
Top banking officials in China’s Tianjin warned against corruption
Discipline violation is a common euphemism for corruption.
05/22/2019
Wolters Kluwer Survey Shows Singapore Bankers Still in Preparation Stage for Upcoming Regulations
The scope of new proposals in the Monetary Authority of Singapore’s overhaul of the MAS 610 reporting regime for banks has been far reaching with banks now preparing to meet the new obligations.
05/22/2019
Tech-heavy funds vulnerable to Huawei escalation
Mutual funds with substantial exposure to the technology sectors have been casualties of the US clampdown on Huawei.
05/22/2019
News from around the APAC region, May 22, 2019
This will also be Next Story's third hotel in Melbourne, complementing the 120-key Sage Hotel Melbourne in Ringwood and Next Hotel Melbourne which is slated to open in 80 Collins Street by Q2 2020.
05/22/2019
Disclosure of internal investigations – the Hong Kong SFC’s FAQs fail to relieve industry concerns
This includes whether the individual was subject to an internal investigation in the six months prior to their departure.
05/22/2019
Westpac Singapore's Mortgage Exit Leaves Borrowers Hanging
If the amount was not paid, the bank would take the client to a court or take possession of the related property.
05/21/2019
Could New SFC Rules Push More Taiwan Clients to Singapore?
Whilst many sophisticated Hong Kong and mainland China clients are unlikely to shift preferred locations merely due to tightened access to the product universe, Taiwan clients have already shown willingness to book in either or both booking centers.
05/21/2019
International Investment joins the World Islamic Banking Conference as media partner
The sophisticated capital market and financial infrastructure in the region enables constructively channelling the capital to invest in the Asia's growth potential.