08/14/2018
Government To Remove Former PNB Chief Ananthasubramanian From Service
The government also gave permission to the CBI to prosecute Sanjiv Sharan, former executive director of the PNB, the official said.
Legal, Regulation & Compliance
08/14/2018
How a Swiss bank was toppled by a financial scandal in Malaysia – and what can be learned from it
When in 2014 it was reported that 1MDB had amassed US$11 billion in debt, posing a threat to the Malaysian ringgit, the scandal began to unravel.
08/14/2018
Latest bank victory – Hong Kong High Court dismisses mis-selling claim
Apart from the contractual terms, the relative sophistication and character of the customer in question was also highly relevant to the court's decision.
08/14/2018
ASIC bans ex Macquarie Private Wealth advisers
It is understood the pair lodged an appeal with the Administrative Appeals Tribunal on Tuesday morning.
08/13/2018
World Bank hires Commonwealth Bank of Australia to issue first global blockchain bond
The new debt instrument named bond-i will be created and managed with distributed ledger technology
08/13/2018
Turkey sees long-term partner in China
President Erdogan says his nation, amid crisis with Washington, may be forced to seek out 'new friends'
08/13/2018
China moves to fight rising P2P risks with 10-point plan
Since June, 243 online lending platforms have gone bust amid an intensifying crackdown on shadow banking
08/13/2018
Private jet to join superyacht in 1MBD asset seizures
Authorities eye $35m jet bought by fugitive financier Jho Low
08/12/2018
Vietnam to limit new licences for foreign banks
Vietnam has so far licensed around 10 wholly-foreign-owned banks, such as HSBC Vietnam, Standard Chartered Vietnam, Hong Leong Vietnam, CIMB Vietnam, according to the State Bank of Vietnam, the country’s central bank.
08/12/2018
Fugitive South African lawyers own property in St Ives, Vaucluse, documents show
A Red Notice is not an arrest warrant, but a means of communicating information between international police forces.
08/12/2018
SEBI issues guidelines to control black money in Share Market
Brokers and sub-brokers should not accept cash from the client for the purchase of securities and/or give cash against the sale of securities to the clients.
08/10/2018
Gaining Momentum: Asia Region Funds Passporting
Paul Toepfer, Managing Director, Product Management APAC
08/10/2018
Now, claim money stuck in pension schemes
The regulator asked companies to trace policyholders or beneficiaries and return the money.
08/10/2018
Hong Kong, Singapore join global reg initiative
As part of the consultation, the group is seeking views on the mission statement for the GFIN, its proposed functions, and where it should prioritise activity.
08/10/2018
HK court rejects British ex-banker's last bid to appeal murder conviction
A three-judge panel at the Court of Final Appeal did not grant Jutting leav
08/10/2018
Nuix founder Castagna cops seven years jail sentence for offshore tax fraud
Ministers savage fraud detection software founder.
08/08/2018
Reflections from the Hong Kong SPOT conference 2018
One of the salient issues that most blockchain and crypto based companies face is not knowing how the jurisdiction they are domiciled in will regulate digital assets and not knowing how they will be governed.
08/08/2018
HKMA collaborates on consultation to explore the opportunities of a Global Financial Innovation Network
It will also create a framework for co-operation between financial services regulators on innovation related topics, sharing different experiences and approaches.
08/07/2018
Australia proposes more changes to financial advice industry
The “use of the term ‘advice’ should be limited to effort that is undertaken on a client’s behalf by a professional adviser,” the 686-page document said.
08/07/2018
China's softer approach to debt doesn't mean easy ride for banks
The Financial Stability and Development Committee, headed by Vice-Premier Liu He, emphasised last week that that it will continue to crack down on wrongdoing and illegal financial institutions.