11/01/2018
AustralianSuper to cut equities
"We are going to start reducing our share weightings because that's the most exposed part of the portfolio," Delaney said.
Legal, Regulation & Compliance
11/01/2018
Hong Kong Competition Commission publishes decision in respect of the Code of Banking Practice
The coming into force of the Ordinance in 2015 gave rise to some uncertainty as to whether certain provisions of the Code could raise issues under the First Conduct Rule (which prohibits anticompetitive agreements between competitors); see our previous e-
11/01/2018
Monetary Authority of Singapore announces tax framework for Variable Capital Companies
This announcement details the manner in which the Resident Fund Scheme of Section 13R and the Enhanced-Tier Fund Scheme of Section 13X of the Income Tax Act (Cap. 134) are to be extended to VCCs.
11/01/2018
Indonesia c.bank gov pledges to ensure banks have adequate liquidity
The country’s foreign exchange reserves rose in October
11/01/2018
HKMA in Tokyo Promoting Hong Kong’s Leading Platform as an International Financial Centre and Gateway of China
The seminar was part of the “Think Global, Think Hong Kong” promotion programme organised by the Hong Kong Trade Development Council in Tokyo.
10/31/2018
ANZ profit takes hit as it moves beyond wealth
This places ANZ in a stronger position to meet the challenges facing the industry.
10/31/2018
Sargon moves closer on Decimal transaction
Sargon’s acquisition of Decimal, when combined with earlier transactions involving IOOF’s corporate trust business and Madison Financial Group, gives the company strategic reach into the superannuation and wealth management arenas in Australia
10/31/2018
Asian Legal Business Recently Named Chris Cheng in “Top 40 Under 40” List
Chris Cheng’s practice areas span corporate, M&A, IPO’s, equity capital, markets and debt capital markets.
10/30/2018
Standard Chartered granted custody license in China
China is the third largest equity and bond market in the world, with total market size close to USD20 trillion.
10/30/2018
More Progress Needed on Basel III Implementation – BCBS
Twenty-six member jurisdictions also have final rules in force for the countercyclical capital buffer and the D-SIB (domestic systemically important bank) requirement.
10/30/2018
Australia is the latest country whose banks are planning to abandon London as Brexit looms
Many foreign financial institutions are frustrated — like many UK businesses — by the lack of any real clarity over what sort of Brexit the UK will actually achieve when the Article 50 period runs out in March next year.
10/30/2018
Superyacht Linked to Malaysia's 1MDB Scandal Goes up for Auction
A Malaysian court in August approved the sale of the 300-ft (91 m) Cayman Islands-flagged Equanimity, which was impounded months earlier near the Indonesian island of Bali and handed over to Malaysia.
10/30/2018
Hong Kong and UK regulations clash
Some retail funds in Hong Kong do not meet UK requirements for local distribution under new agreement
10/29/2018
Ex-Navitas boss Rod Jones signs protocols for $2b bid
Navitas’ board is said to be intent on taking as much time as it needs to get a thorough valuation of the company before deciding its next move.
10/29/2018
Russian Sovereign Wealth Fund Attracts Saudi Partner to Its Fund With China
RDIF and China Investment Corporation previously contributed $1 billion each to their fund, which has invested in more than 25 projects in the forestry, infrastructure, consumer goods, financial and other sectors since its establishment in 2012.
10/29/2018
Hana, LINE join hands for digital banking in Indonesia
Discussions are underway for the two entities to map out age-specific, needs-based business models to maximize customer preferences, following market research conducted by a joint taskforce.
10/29/2018
Global Banks in Crossfire Between Chinese Authorities, Wealthy Elite
This type of questioning has become business as usual for Asia’s biggest economy.
10/28/2018
The spy who came in from the void
On Thursday, Hasanah was charged with committing criminal breach of trust (CBT) over US$12 million worth of government funds.
10/27/2018
SEC issues warning on renegade ICOs
Information disclosure for investment decision-making is also inadequate, while these digital assets might not have sufficient liquidity to trade and cannot be converted into cash
10/26/2018
Foreign banks in China can sell government bonds
According to the new policy, it is possible to set up a wholly foreign-funded bank and branches at the same time