09/24/2018
Australian fund admits wrongdoing to ASIC
The misconduct involved REST continuing to deduct insurance premiums when a person was no longer covered by insurance.
Legal, Regulation & Compliance
09/24/2018
Axa IM, Robeco score QDLP license
For each new license holder, the Amac places a six-month deadline for the first product launch.
09/24/2018
More regulation of Jersey residential leases on the way
The new law enables the Environment Minister and his officers greater legal powers to carry out inspections and to issue notices in respect of failing properties that could result in court action against landlords.
09/24/2018
Singapore regulators banking on blockchain to transform financial services
In a report by the South China Morning Post, Damien Pang, head of technology infrastructure office at the MAS said that the organization aims to regulate the use of blockchain rather than the technology platform itself.
09/24/2018
Mega bank mergers and the future of reforms
For a while it seemed the Modi government had a reforms plan for the banking system. But now it is left with mere optics
09/23/2018
SFC issues further reminder regarding paragraph 12.5 self-reporting obligation
It has recently come to the SFC’s attention that some intermediaries have not promptly reported breaches of or non-compliance with various legal or regulatory requirements to the SFC
09/23/2018
BVI Update - New Visa Exemption Order for Chinese Nationals
These letters must be addressed to the exempted persons, stating their work title, date of expected arrival, the duration of their stay and purpose of their visit and the amount of the fees charged or to be paid to anyone to be exempted .
09/20/2018
Schroders and UOB AM join fund passport scheme
Seven fund managers have joined the cross-border Asean Collective Investment Scheme since it opened in 2014.
09/20/2018
Guernsey connections explored in Hong Kong
Trident Trust launched the Guernsey element of its global fund administration business in 2004, after it received a request from its Hong Kong office to administer a Cayman fund structure.
09/20/2018
Leading offshore law firm advises Singapore family office on £180m London property deal
Working alongside onshore counsel Clifford Chance, the firm advised on all Jersey legal and regulatory aspects of the purchase, which was completed by way of acquisition of a Jersey Property Unit Trust (JPUT).
09/20/2018
SFC bans a former relationship manager of HSBC for 12 months
The customer data leakage was immediately detected by HSBC’s email monitoring system before Ngo joined another bank in a similar capacity the following day.
09/19/2018
Few countries are pricing carbon high enough to meet climate targets
New carbon pricing initiatives in some countries, such as China’s emissions trading scheme and renewed efforts in Canada and France to price carbon, could significantly reduce these gaps.
09/19/2018
Politician arrested in London for ‘money laundering’
The couple allegedly controls a UK property portfolio with more than 8 million pound for which they appear to have no legitimate source of income.
09/19/2018
Singapore’s new investment fund structure gets thumbs up
The move comes a year-and-a-half after MAS, the city state’s central bank and capital market regulator, held a month-long public consultation on the plan in March 2017.
09/19/2018
Indonesia woos millennials with 7.3t rupiah of online retail savings bonds
Nearly 80 per cent of the 21,672 investors were new, with about 41 per cent of them aged 18 to 38 years, which the ministry categorised as "millennials".
09/19/2018
Former Macquarie advisers banned
The corporate regulator's new Financial Services and Credit Panel found Landau and Campbell had deliberately engaged in conduct that was dishonest and involved knowing and willful contraventions of law.
09/18/2018
Trade wars step up, more to come
China may bide its time, but we expect they will follow with tariffs on a further $60 billion of imports from the US.
09/18/2018
India's Bank of Baroda, Vijaya Bank and Dena Bank to be merged
Bank of Baroda, Vijaya Bank and Dena Bank to be merged to for country's third largest bank
09/18/2018
AMP admits it kept charging more than 4,600 dead people for life insurance
Royal commission told $1.3m in premiums was charged to super customers AMP knew had died
09/18/2018
Investors hope central banks will extend a rescue line to ailing emerging markets
The pressure to hike will be particularly strong for Brazil and SA, both of which have seen their currencies plunge this year