12/05/2017
Plans for more transparent Sibor seen benefiting borrowers
The one- and three-month ones are most widely used, and account for more than nine in 10 contracts that use the Sibor benchmark.
Legal, Regulation & Compliance
12/05/2017
Barclays Africa, China Development Bank sign agreement to cooperate on development projects in Africa
Barclays Africa will also extract synergies from the CDB’s focus on inclusive finance to provide capital to SME’s and low income communities.
12/05/2017
Hong Kong SFC issues Consultation Conclusions on the regulation of fund managers
An explanation of any such tools and exceptional measures should be disclosed in the fund offering documents or otherwise be made freely available to investors.
12/05/2017
Former Billionaire Steel Magnate Banned From Leaving China
Thirty-six-year old Li Zhaohui was once considered one of the country’s most promising entrepreneurs.
12/04/2017
MAS report finds Hong Kong, Korea and Singapore banks vulnerable to FinTech disruption due to reliance on payment fees
The report notes that FinTech presents opportunities for banks to improve their profitability from both the cost and revenue angles, whether exploited either internally within banks or through collaborative partnerships with FinTech companies.
12/04/2017
Hong Kong latest jurisdiction to vanish from HMRC ROPS list
In the past, HMRC has, without warning, removed all, or nearly all, of the schemes that had featured on its list only a few weeks before of such jurisdictions as Australia, Guernsey, the US, Canada, France and Italy.
12/01/2017
Korea’s Central Bank Raised Benchmark Interest Rate in 77 Months
The interest rate adjustment is based on a determination that the South Korean economy’s solid recovery is likely to continue for a while.
12/01/2017
China Minsheng Bank handed fine in fake wealth management products case
China Banking Regulatory Commission said the case exposed lax internal control and risk management at the Beijing-based lender
12/01/2017
Harneys officially launches Shanghai office after receiving China licence
The Shanghai team is led by Kristy Calvert, who has more than 15 years of experience working on cross-border transactions, ten of which were gained in the PRC.
11/30/2017
Australia Bows to Pressure With Inquiry Into Bank Misconduct
The Australian government has bowed to growing pressure by announcing a high-level inquiry into misconduct in Australia's financial sector.
11/29/2017
Banks invited to work on Great Wall’s $2bn Hong Kong float
Asset management company tasked with cleaning up China’s bad debt plans IPO for 2018
11/29/2017
Wrong Turns In Paradise
It Transpires That There Is A World Of Difference Between The Panama Papers And The Paradise Papers
11/29/2017
ANZ Dismisses Bankers
Now the bank has made the news again for reasons other than providing professional financial services.
11/28/2017
China Development Bank files insolvency case against RCom
Reliance Communications owes close to $2 billion in syndicated loans to China Development Bank
11/28/2017
Law firm explores Asian business ‘super-blocs’
“Our lawyers are frequently asked to explain the differences between Asian businesses and their European and American peers,” he said.
11/28/2017
Hong Kong Regulator Moves to Ease Fintech Dialogue
The AI's will have access to both the fintech facilitation office and the banking departments of the HKMA through the chatroom.
11/28/2017
US charges 3 Chinese Nationals With Hacking, Stealing Intellectual Property From Companie
The Three Charged By The US Attorney In Pittsburgh Were Working For A Chinese Intelligence Contractor
11/27/2017
China clamping down on vast shadow banking sector
Broad effort to regulate off-books products could choke weak banks' funding
11/27/2017
EFG set to emerge from BSI scandal as 5th-largest Swiss bank
The year's largest deal in the Swiss private banking space that was touted as transformative turned hellish mid-sale.
11/27/2017
Aurora CFO terminated as $1m vanishes from listed trust
Aurora has notified the incident to ASIC "as required under the conditions of its Australian financial services licence and the insurer under its investment management insurance policy."