02/19/2019
The future of Cayman vehicles in Asian structures
Cayman Islands entities, when incorporated into a structure, can assist businesses compete for and service an international client
Legal, Regulation & Compliance
02/19/2019
SFC Fines Guosen Securities $1.94mn for AML Breaches
The SFC’s investigation revealed that between November 2014 and December 2015, Guosen had processed 10,000 third party deposits totalling approximately $5 billion for more than 3,500 clients.
02/18/2019
Senate Passes Bill Empowering ASIC to Pursue Harsher Penalties
The bill increases the maximum prison penalties ASIC can pursue to 15 years, for serious offences including breaches of director’s duties, false or misleading disclosure and dishonest conduct.
02/18/2019
Big Four Auditors Face Parliamentary Scrutiny in Australia
The risk here, of course, is that the big four audit firms now fail to fearlessly scrutinise the accounts and risks of the corporations that they audit
02/18/2019
European bank eyes PH operations
Several foreign banks have shown interest to open either a branch or subsidiary in the Philippines
02/18/2019
Super reforms hit AMP wealth management arm
The move would result in about $10 million of lost earnings to AMP's wealth management business in the 2019 financial year
02/17/2019
Navigating Regulatory Change in Asia Pacific
Educate, prepare and consolidate.
02/17/2019
Bank lending for ‘real economy’ key to boost China growth — central bank official
Perpetual bond issuance “is only one breakthrough” in reducing capital constraints
02/17/2019
Bank Indonesia mulls accumulating global sukuk as sharia buffer
The central bank began offering sovereign sukuk-backed securities, known as Sukbi, to conventional and sharia banks from last year and the instrument has found favour with the banks.
02/15/2019
Facing the future - Developing a response to regulatory change
Based on a survey of more than 100 senior legal and compliance professionals across the region, many organisations in Asia Pacific were found to be struggling to keep up with new compliance rules.
02/15/2019
Swiss Investigate 1MDB Whistleblower
The multi-billion corruption and money-laundering investigation was spearheaded by the U.S. and also involved Switzerland and Singapore.
02/15/2019
Australia's AMP sees more pain ahead for scandal-hit wealth unit
At the same time, regulatory and compliance costs were mounting and would affect earnings this year, AMP said, as it confirmed a pre-announced 35 percent fall in 2018 underlying net profit to A$680 million.
02/15/2019
ASIC consults on updating its responsible lending guidance
ASIC is also considering whether to provide an opportunity for key stakeholders to speak to the Commission at public hearings in addition to making written submissions.
02/15/2019
Praemium upgrades platform as part of rebranding
In a statment Praemium CEO Michael Ohanessian said: "This compares dramatically to traditional wrap platforms that have tried to overlay SMAs into their technical and regulatory architecture."
02/15/2019
SFTR: What Asian Financial Firms Need to Know
Once enforced, EU-based firms and their non-EU-based branches, as well as non-EU-based firms where the transaction is executed by an EU-based branch of the firm, will be obligated to report their securities financing transactions (SFT) to an authorised trad
02/15/2019
SFTR: What Asian Financial Firms Need to Know
Once enforced, EU-based firms and their non-EU-based branches, as well as non-EU-based firms where the transaction is executed by an EU-based branch of the firm
02/15/2019
ABC starts search for new managing director, even as Guthrie dismissal case continues
The final decision on the new ABC chairman rests with Prime Minister Scott Morrison, on the advice of Communications Minister Mitch Fifield.
02/15/2019
BigTechs, Outsourced Services Pose Financial System Risk – FSB
Additionally, that there could be new implications for financial stability from the entrance of BigTech firms into finance.
02/15/2019
Data Privacy, Cybersecurity, Conduct in Focus in APAC
According to the report, the annual spend on financial crime compliance at financial institutions around the world is estimated at between USD 900 million and USD 1.3 billion.
02/15/2019
CSRC Seeks to Control Speculation on Shanghai’s New Tech Board
“Regulators are concerned that it will in turn hurt investors.”