05/30/2018
One Million Indian Bank Employees Go on Strike in Pay Dispute
All bankers in this country cannot be penalized for the bad lending decisions taken by some of the top management.
Legal, Regulation & Compliance
05/30/2018
Liabilities of Legal Representatives and Directors of Chinese Companies
Chinese law does not require a legal representative to have actual knowledge of, or be personally involved in, any of the violations stipulated above.
05/30/2018
Chinese internet group gets shareholder approval to reorganize in Cayman
The Beijing-headquartered company intends to proceed with the liquidation of the Delaware entity on May 31.
05/29/2018
China $10 Trillion Shadow Bank Crackdown Has Long Way to Go
Initial success combating interbank borrowing, asset products
05/29/2018
Swiss Re 'open' to anchor investor as SoftBank talks fail
The collapsed talks mark the end of nearly four months of deliberations about how SoftBank would invest in Swiss Re, though the two companies said Monday they may yet agree to collaborate on some businesses.
05/28/2018
Robeco wins two mandates worth $500m
Robeco was awarded mandates, collectively representing $500 million, by two financial institutions in Australia and New Zealand.
05/28/2018
Former adviser faces fraud charges
A former financial adviser permanently banned by ASIC in 2016 has appeared in court, charged with $5.9 million of fraud.
05/27/2018
Any ban on advice commissions faces 'constitutional difficulties': ANZ, AMP
Changes under the Future of Financial Advice regime in 2013 banned conflicted remuneration for advice but some commissions were allowed to continue; they were grandfathered.
05/25/2018
Westpac's decision to fight ASIC pays off
One suspects, however, that Lindsay Maxsted and Brian Hartzer have the most reasons to feel relieved.
05/25/2018
Nomura, LINE, and LINE Financial Sign Joint Venture Agreement as part of Financial Business Alliance
Under the joint venture agreement, Nomura and LINE Financial plan to establish LINE Securities Corporation1 on June 1, 2018.
05/24/2018
Singapore bourse presses on with India derivatives launch despite lawsuit
According to SGX, it has "full confidence" in its legal position and will "vigorously defend this action"
05/24/2018
Malaysia’s new finance minister says 1MDB wealth fund president is ‘utterly dishonest’
Malaysia’s Finance Minister Lim Guan Eng met with people involved in the scandal-plagued fund and said its directors had confirmed that 1MDB was insolvent and “unable to repay its debts
05/24/2018
Ant Financial partners with China Everbright Bank and Everbright Technology
On May 18, 2018, Huabei, Ant Financial's consumer finance service, announced it would partner with various financial institutions, including banks
05/24/2018
Could 50% of advisers exit industry?
The Adviser Ratings research pointed to almost 7,000 advisers having left the industry since 2015, with the future attrition rate expected to increase and described IOOF and AMP as being the majors most at risk from adviser churn motivated by FASEA.
05/23/2018
'I was sent a bullet' probing 1MDB, says Malaysian anti-graft chief
Shukri told a news conference he had called Najib into the agency to record a statement, not to arrest or charge him.
05/23/2018
HSBC case: ED seizes Rs 21 crore assets of Dabur director
The assets have been seized in lieu of those held abroad by Dabur group director Pradip Burman, ED has said.
05/23/2018
Pakistan hires UAE banks to raise $200m loan
Pakistan needs to raise funds to offset a drop in international reserves
05/23/2018
China central bank aims to improve information disclosure and transparency
“We will continuously improve the central bank’s credibility and transparency,” the PBOC said in a notice published on its website.
05/22/2018
Malaysia sets up task force to probe 1MDB scandal
The special task force will be charged with seizing back assets and pursuing legal action against those suspected of breaking the law in relation to the fund
05/22/2018
UAE banks get go-ahead to share Winsome information with India
Information of the movement of funds in and out of the bank accounts of Winsome Group firms, subsidiaries, and its clients in Dubai could help Central Bureau of Investigation establish the money trail.