09/07/2023
Alleged Launderer Assets Seized at Julius Baer, CS
Previously, Vang also had $2.6 million frozen at RHB Bank Bhd. and S$600,000 at UOB Kay Hian Pte.
Legal, Regulation & Compliance
09/07/2023
Singapore's Wealth Surge Faces Challenges Amid Money Laundering Scandal and China's Economic Strains
The aforementioned scandal, which saw the involvement of banks, real estate firms, and jewelry merchants, has remained a major topic of discussion.
09/07/2023
Bank of Japan policymaker calls for keeping ultra-easy policy for now
An increasing number of Japanese companies were raising prices and wages, Nakagawa said, adding that there was a chance inflation could accelerate more than initially expected.
09/07/2023
ASIC issues new legislative instruments for financial resource requirements and platforms
The new legislative instruments were made after industry consultation.
09/06/2023
MAS Bans Mr Ng Chong Hwa for Life
Mr Ng’s severe misconduct has given MAS reason to believe that it would be contrary to public interest to allow him to carry on business as a representative.
09/05/2023
Indonesia Introduces Golden Visa to Woo Foreign Investors
These funds can be channeled into government bonds, shares in public companies, or simply placed as deposits within the country.
09/01/2023
Aisling Dwyer Named Top Offshore Litigator in Asia
As a seasoned offshore litigator, Aisling regularly advises ultra-high-net-worth families, financial institutions, private equity houses and major corporates, often as part of a global litigation team working on proceedings across several jurisdictions.
09/01/2023
MUFG-Morgan Stanley JV Sued Over CS AT1 Sales
The lawsuit was filed on behalf of 66 plaintiffs who demanded 5.2 billion yen ($36 million) in compensation over the losses.
09/01/2023
BOJ policymaker warns against premature monetary tightening
Tightening monetary policy before rising prices are accompanied by higher wages would hurt domestic demand and corporate profits
09/01/2023
Korea appeals World Bank ruling on Lone Star dispute
The government cited the ICSID's procedural violation and the absence of reasoning on the ruling for its appeal.
09/01/2023
Australian court emphasises limits on refusing enforcement of foreign arbitral awards
This, in turn, bodes well for Australia’s future as a respected seat of international commercial arbitration.
08/31/2023
Two Singapore Banks Are Creditors to Alleged Launderers
DBS and Bank of Singapore are creditors to suspects in the recent money laundering scandal involving more than S$1 billion ($741 million) of assets
08/31/2023
Commonwealth to disclose climate risks in sovereign bonds
The case, filed in 2020 by retail investor Kathleen O'Donnell, was represented pro bono by Equity Generation Lawyers principal David Barnden.
08/31/2023
Fostering Digital, Financial, and Green Inclusion for MSMEs"
The great potential of MSMEs is that can be nimble and adaptive – critical success factors in an economic landscape characterised by continuous change.
08/31/2023
APRA releases 2023 superannuation performance test results
This year’s test was expanded to evaluate the performance of 805 “trustee directed products”
08/30/2023
Mirae Asset Securities Claims Allegations of Lime Fund Favoritism Belong to Asset Manager
Mirae Asset Securities will actively cooperate in the event of investigation assistance or data requests.
08/30/2023
SEBA Hong Kong Awarded Approval-in-Principle
SEBA is set to become the first licensed corporation in Hong Kong with crypto capabilities backed by a Swiss crypto bank, SEBA Bank providing it with the platform to operate regulated activities in virtual assets.
08/29/2023
Standard Chartered announces sale of its global aviation finance leasing business to AviLease
The Consideration is subject to adjustment with reference to the net asset value of the business at completion.
08/28/2023
Rising costs and regulation to drive SFO consolidation wave
With requirements on single family offices becoming more onerous for smaller players, a growing number are looking at joining multi-family offices or considering alternative structures to cut costs.
08/28/2023
Website Alert – Fraudulent website related to CMB Wing Lung Bank Limited
The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions.