10/09/2018
SFC bans a former employee of Bank of China for life
The transfers were made purportedly to settle trades conducted in the securities accounts in the name of Lok’s niece and nephew-in-law when in fact the trades were Lok’s own trades.
Legal, Regulation & Compliance
10/09/2018
Monetary Authority of Singapore Posts Finalists for 2018 Fintech Awards
MAS says that past finalists at the Global FinTech Hackcelerator and the FinTech Awards have benefitted from the exposure and connections made as a result of their participation.
10/09/2018
The importance of international co-operation
Speech by Megan Butler, Executive Director of Supervision - Investment, Wholesale and Specialists at the FCA, delivered at The Pan Asian Regulatory Summit 2018, Hong Kong.
10/09/2018
Asia is “increasingly relevant” to Guernsey
Business is particularly strong in litigation, corporate and finance work, he said, while funds business is “bubbling up steadily”.
10/09/2018
Standard Chartered said to prepare for $1.5bn fine over Iran
Allegations of allowing customers to violate Iran sanctions said to date from at least five years ago
10/09/2018
Singapore eases rules for robo-advisors
This is on the condition that they put in place measures to mitigate the risks of providing unsuitable investment recommendations due to limited client information.
10/08/2018
ANZ cuts its profit forecast on $374m in compensation costs
ANZ said the bulk relates to customer compensation for "issues arising from product reviews" and "customers receiving inappropriate advice or for services not provided".
10/08/2018
China’s central bank to cut RRR for a fourth time
The move, an attempt to lessen the impact of US tariffs, should not result in pressure being placed on the yuan, the People’s Bank of China said
10/08/2018
FCA and SFC sign MoU on United Kingdom-Hong Kong Mutual Recognition of Funds
The MoU also establishes a framework for exchange of information, regular dialogue as well as regulatory cooperation in relation to the cross-border offering of eligible Hong Kong public funds and United Kingdom retail funds.
10/08/2018
Fourth former NAB banker banned over alleged home loan fraud ring
This conduct was the subject of the first case study before the Financial Services Royal Commission.
10/08/2018
New Zealand introduces financial services code of conduct
Breaches can incur fines of up to NZ$100,000
10/07/2018
Singapore takes another shot at growing Islamic finance industry
New Shariah-compliant index launched to provide benchmark for Shariah-compliant funds looking to invest in Singapore
10/07/2018
NSW government continues to back wealthy foreigner visa program
In order to be eligible, investors need to be nominated by state governments and must show a "genuine and realistic commitment" to residing in that state.
10/07/2018
Maybank gets nod for CFS business in Singapore
MSL will operate as a subsidiary of the Maybank Group with Asian Currency Unit capabilities in Singapore.
10/07/2018
China slashes banks' reserve requirements to spur growth
Reserve requirement ratios (RRRs) - currently 15.5 percent for large institutions and 13.5 percent for smaller banks - would be cut by 100 basis points effective Oct. 15
10/05/2018
Maybank gets regulatory nod to locally incorporate retail business and SME banking in Singapore
The effective date for the transfer is set at Nov 5, 2018.
10/05/2018
Societe Generale to issue NT$1.6 billion green bond in Taiwan
The proceeds of the issuance will be used to fund renewable energy projects in Taiwan, including the successful project financing of the Formosa 1 Offshore Wind project, Taiwan's first commercial-scale offshore wind farm
10/05/2018
Luxembourg and Australia agree fintech pact
Both our jurisdictions are leaders in funds management and other financial services. ASIC is very interested in learning from the fintech and regtech innovations that are taking place in the Grand Duchy.
10/05/2018
Indian reforms may change banking
It is a source of great optimism that India is adopting digital technology at such a fast pace.
10/04/2018
Malaysian Ex-First Lady Nabbed
Since the 66-year-old's husband, Najib Razak, was voted out in May, they have suffered a stunning fall from grace and reckoning in the scandal surrounding 1MDB scandal.