10/15/2018
FPA finds Sam Henderson guilty
The CRC found that nine out of the ten alleged breaches of the FPA Code were proven. Information in relation to sanctions will be released in due course.
Legal, Regulation & Compliance
10/15/2018
In divorce or separation...the financial adviser should be the 2nd call made says Cardena’s Iain Reid
Divorce and separation can be extremely stressful for all parties involved.
10/14/2018
China 'won't be found' a currency manipulator, bank lobby group says
Adams, who expects trade tensions between Washington and Beijing to drag on, said the yuan could decline further if the U.S. Federal Reserve continues to hike interest rates.
10/14/2018
Australian Bank Fires Over 200 Staff Due To "Bad Banking Behaviour"
Australia and New Zealand Banking Group fired over 200 staff for wrongdoing due in part to issues raised at a public inquiry into financial sector misconduct.
10/12/2018
Indonesia, Singapore Sign $10 Billion Swap Agreement
The two governments also signed other agreements on tourism promotion, protection of foreign investment and fintech cooperation.
10/12/2018
Monetary Authority of Singapore to Mediate Between Banks and Crypto Startups
Two weeks ago, some banks in Singapore decided to suddenly stop doing business with crypto startups without offering an explanation.
10/12/2018
Hong Kong to drop MPF’s offsetting mechanism, subsidise employers
The government will shoulder 50% of the cost for the first three years, after which will the sum will be reduced by 5% a year up to the twelfth year.
10/12/2018
Four Asean nations to lift barriers to cross-border investment advisory
At the ACMF, the regulators also introduced the Asean Social Bonds Standards and the Asean Sustainability Bonds Standards.
10/12/2018
IMF and World Bank unveil Fintech Agenda
Fintech could transform the financial markets through which monetary policy actions are transmitted
10/12/2018
China finance: why ‘accidental banks’ face a crackdown
Asset managers were big lenders to Chinese buyers of overseas assets but capital is drying up
10/12/2018
FPA finds Sam Henderson guilty
The Panel now provides the parties with an opportunity to make submissions as to imposition of any Sanction, in a manner and within the times that are to be advised
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/12/2018
Global Financial Markets Regulatory Review
Reported items include proposed legislation, rule changes, disciplinary actions, litigation, and other news.
10/12/2018
Australia investigates claims that bank probe strained lawyers
Legal workers said to have slept in offices to meet demands of royal commission
10/12/2018
Asia needs region-wide approach to harness fintech's full potential, says ADB
Disintermediation of fintech services or concentration of services among a few providers could also pose a risk to financial stability.
10/11/2018
ADB, OECD sign agreement to deepen partnership for Asia-Pacific
ADB said it has also played a key role in the United Nations Development Program (UNDP)-OECD Global Partnership for Effective Development Cooperation.
10/11/2018
Banks take steps to end fraudulent mischarging, bad practices
To end ‘fees for no service,’ banks are determined to change the way they manage ongoing financial advice.
10/11/2018
SFC fines up 200% this year
“The multiplier approach was adopted in that case to ensure that the penalty was proportionate to the misconduct, in order to achieve the intended deterrent effect,” Atkinson said.
10/11/2018
China issues rules for online financial bodies to battle money laundering
Earlier on Wednesday, the People's Bank of China said it would improve its supervision mechanism for fighting money laundering and for countering terrorism financing.
10/11/2018
Islamic Development Bank plans $1b infra funds focused on Asia, Africa
“This is a new policy of the IDB in terms of putting a focus on thematic areas, whether its infrastructure, science and technology or other areas.”