09/13/2018
Australia’s ‘big four’ to be initial target for open banking
ACCC prepares to bust open bank data
Legal, Regulation & Compliance
09/13/2018
Bank-trust business risk control under new asset management rules
With the evolution of the bank-trust cooperation model, the scope of bank-trust cooperation business is also expanding.
09/13/2018
Banking royal commissioner Kenneth Hayne gets to heart of ASIC's regulatory capture
This was all about the exposure of an embarrassing and frankly troubling example of regulatory capture at the Australian Securities and Investment Commission.
09/13/2018
Blockchain, Cryptocurrencies and ICOs: An Offshore Lawyer’s Perspective
A cryptocurrency is a unique form of coin that is intended to be used as digital currency.
09/13/2018
SFC publishes AML/CFT inspection findings and urges intermediaries to ensure compliance
The SFC has indicated that it will continue to monitor and provide guidance to LCs and AEs in relation to AML/CFT compliance
09/13/2018
India and Singapore slammed for lax bribery controls
Countries on list of top offenders, which have “little or no enforcement” of anti-bribery laws
09/12/2018
More than 1,700 financial firms in Hong Kong share customer information with authorities in global tax evasion initiative
City will send information annually to local tax authorities in 50 jurisdictions with which it has agreements, with first exchange set for this month
09/12/2018
Singapore plans new Bill to attract more of world’s millions
While many asset managers have offices in Singapore, most of their funds are still registered in offshore jurisdictions
09/12/2018
Massive class action launched against retail super funds
At a press conference on Tuesday 11 September, Slater and Gordon head of class actions Ben Hardwick said the campaign will involve a series of class actions.
09/11/2018
FundForum: European Policy Impacts on APAC Asset Managers
Under MiFID II, which went live from January 2018, investment research is required to be priced separately from trade execution.
09/11/2018
Banks set to face massive class action over rip-offs
There would be a series of announcements over the coming "weeks and months", it foreshadowed.
09/11/2018
Australian inquiry brings threat of lawsuits against pension funds
"It's been about lining their own pockets, about propping up their profits and undermining the entire superannuation scheme," Slater & Gordon head of class actions Ben Hardwick told reporters.
09/10/2018
Indonesia’s Salim Group signs JV with Singapore’s Keppel to develop data center
The construction of the data centre’s core and shell as well as first phase fit-out is expected to be completed by the first half of 2020.
09/10/2018
NZ Treasury to start consultations on second phase of RBNZ review
Treasury said the consultation period on the second phase will run until late January and will be followed by two more rounds of consultation during 2019, suggesting any further legislative changes will be some time away.
09/10/2018
ASB, Westpac and BNZ to trial new technology to tackle errors and scams
People who accidentally miss-type the wrong number have to go to their bank to ask for the money to be paid back and the bank must get the consent of the account holder to whom it has been accidentally transferred.
09/10/2018
Singapore can't avoid next crisis, but it can strengthen its resilience: Heng
The tools to mitigate worst of business cycles have also evolved since bank's collapse
09/09/2018
Bank Fines Surge in China as Watchdog Battles Rising Bad Loans
The agency under Guo has imposed penalties as large as $110 million, fired banks executives, and publicly disclosed the violations.
09/09/2018
SEBI Panel Proposes To Relax Foreign Fund Ownership Rules
The report was submitted by a panel headed by HR Khan, former deputy governor of the Reserve Bank of India.
09/09/2018
In Depth: Is China on Verge of Private Equity Implosion?
The banners were intended for the team investigating the case of the Shanghai-based wealth management company Fuxing Group
09/07/2018
Choksi’s Indian properties seized
Choksi is at the centre of controversy surrounding a desire by the Indian administration to have him extradited from Antigua to face charges for an alleged US $2 billion bank fraud in India.