08/28/2018
JPM AM aims for onshore private fund license
Other foreign fund houses have set up a wholly-owned business in China through an IM WFOE structure.
Legal, Regulation & Compliance
08/28/2018
OneVue and boutique fund manager ink platform deal
OneVue is building a private-label platform for a $6 billion boutique investment manager.
08/28/2018
Malaysia Brings Eight Money Laundering Charges Against Low
The charges cover approximately USD260 million in funds that Low is accused of receiving between December 2013 and June 2014.
08/28/2018
Banks ditch 'sales-focused' volume-based commissions
A cross-industry body that includes brokers and banks will on Tuesday point to signs of progress, including the phasing out of "volume-based" and "campaign-based" commissions.
08/27/2018
CIMB first to commit to UN’s responsible banking principles in Asean
“As a leading universal bank in ASEAN, we have always perceived our role as going beyond providing great financial products and services.
08/27/2018
Accused Canara officials flouted bank manuals: CBI chargesheet on Winsome Diamonds case
The CBI has said that Mehta along with others purchased gold from bullion banks abroad such as the Bank of Nova Scotia, Standard Bank, and Standard Chartered bank against the Standby Letters of Credit issued by Indian banks.
08/27/2018
Morgan Stanley Wealth Management Australia required to amend false claim of independence
Advice firms need to have adequate processes and controls in place to ensure any public statements they make comply with the Corporations Act.
08/27/2018
China and Britain to discuss 'top notch' free trade deal
Britain has pushed a strong message to Chinese companies that it is fully open for business as it prepares to leave the EU next year
08/27/2018
Australia inquiry finds pension funds broke rules
The Royal Commission inquiry into financial services misconduct began earlier this year
08/27/2018
Bank of Baroda looks to sell subsidiaries in Ghana, Trinidad and Tobago
Bank of Baroda selling its subsidiaries in Ghana, and Trinidad and Tobago, is seen as part of a strategy to rationalize international operations
08/24/2018
China to block more than 120 offshore cryptocurrency exchanges as crackdown escalates
China is poised to block more than 120 foreign cryptocurrency exchanges as part of the government’s broader crackdown on activities related to digital money, according to state media. Authorities will block access in China to 124 websites operated
08/24/2018
‘Wilful defaulter’ Winsome Diamonds diverted $750 million to dummy companies, says probe
The dummy companies then routed these funds to an entity called Docklands Investment Ltd.
08/23/2018
Fintech Without Borders: Regulators Consult on Global Financial Innovation Network
The Consultation builds on the FCA’s proposal earlier this year to create a “global sandbox” for innovative financial services firms.
08/23/2018
Ogier shortlisted for best in offshore in Asia-Pacific Dispute Resolution Awards 2018
The awards ceremony will be held on September 20 at the Island Shangri-La in Hong Kong.
08/23/2018
Fieldfisher has expanded its Chinese operations
The new partners include Zhongran Lian who specializes in commercial arbitration and litigation with over 30 years of experience advising both state owned and private companies.
08/22/2018
KPMG chairman Alison Kitchen against 'name and shame' over audit quality
Ms Kitchen also reaffirmed her view that the firms should not be broken up.
08/22/2018
Malaysia, China in deal to cooperate on accounting, audit
The deal will help the countries benefit “in areas of mutual interest relating to accounting and auditing", Securities Commission Malaysia says in a statement on August 20.
08/22/2018
Indonesia’s Bank Mandiri is on track to list its Islamic finance unit in 2020
The Islamic bank is seeing 16% to 17% growth in savings, triple the pace at conventional banks, he said.
08/22/2018
Legal tech project recruits big City firms
Among other participants are nine small and medium-sized local law firms, two corporate counsel and nine legal tech companies.
08/22/2018
Tech firms could become top shareholder of Internet-only bank: regulator
Choi also said that big companies in non-technology business sectors would be banned from becoming a top shareholder of an Internet-only bank.