02/20/2017
A call for a duel on bank secrecy
How can he conceal the fruits of his crime?
Legal, Regulation & Compliance
02/20/2017
Hong Kong brokers, fund managers struggle to get their heads round new SFC rule
New requirement that firms appoint individuals to control eight ‘core functions’ is proving harder than it sounds
02/20/2017
Bank of China to pay fine in Italy money-laundering
The Bank of China said the plea deal was aimed at "avoiding a long trial and allowing the Milan branch to concentrate on developing its own business.
02/20/2017
HSBC Stops Issuing P-Notes As Government Steps Up Clampdown
(Sebi) has shared with the government a list of foreign fund houses that are found to have issued the Offshore Derivative Instruments (ODIs) to Indian nationals.
02/20/2017
India’s Largest Insurance Merger Stuck As Regulator Seeks Attorney General’s Advice
The Insurance Act allows for mergers between two life insurance companies but does not make provision for the merger of a life insurance company.
02/20/2017
Pakistan to access citizens’ past financial details in foreign countries
The official said the exchange of information between the signatory countries would be restricted to the present details in case of accounts with deposits below the mark of one million dollars.
02/19/2017
Coalition cites ANZ credit card rate cut as proof no royal commission is needed
Malcolm Turnbull welcomes the interest rate cut as evidence the house economics committee is holding banks to account
02/19/2017
HSBC, UBS stop issuing Participatory Notes as India steps up clampdown
These instruments are not allowed to be issued to Indians, NRIs or Persons of Indian origins.
02/17/2017
Bakers makes Hong Kong arbitration addition
He brings to 11, the number of dispute resolution partners the firm has in Greater China.
02/17/2017
OurCrowd gets funds, partnership with Taiwan’s bank
Partnership will open door for investments to and from China and assist strategic deals between companies
02/17/2017
We Shouldn’t “Kill” Bitcoin But Regulate: Former Bank of China Governor to CCTV
Bitcoin runs on a peer-to-peer and decentralized architecture with the absence of centralized government and authority.
02/17/2017
Eversheds Sutherland in line to have another merger
The merger, which has been in the works for almost two years, will create Eversheds Harry Elias, a law firm which will have more than 90 lawyers in Singapore and Brunei.
02/17/2017
Why China’s Richest Worry About Moving Money Abroad
Affluent asset-holders are finding strict foreign exchange rules are bad for their wealth.
02/17/2017
1MDB: Emboldened Trusts Wrangle Over Jho Low Assets
Low is fighting in Los Angeles court to keep those assets, exposing an unseemly side of the private banking and trustee industry that is usually kept out of sight.
02/17/2017
Japan, Bahamas agree to automatic exchange of financial information for tax purposes
The Ministry said the new agreement provides for information exchange based on the latest international tax standards.
02/17/2017
Staying relevant in a new insurance landscape
Who says this will then influence the way advice gets given, as well as how it is remunerated.
02/16/2017
MAS proposes measures to simplify regulatory regime for VC managers
VC managers are subject to the same regulatory framework as other fund managers.
02/16/2017
PFRDA asks pension funds to maintain MF holdings with SHCIL
It is advised that all pension funds shall maintain the holdings in mutual funds with the appointed custodian
02/16/2017
Kyrgyzstan to amend legislation to introduce Islamic banking
The National Bank official noted that it was legally problematic to equate the Islamic banking with the traditional financial operations
02/16/2017
Faster, cheaper access to Singapore market soon for VC funds
Industry players applaud new MAS initiatives to expand VC pool and boost startup ecosystem