06/02/2023
Credit Suisse axes China bank plan to avoid regulatory conflict under UBS
Embattled Credit Suisse had been preparing for years to set up a wholly owned local bank in China.
Legal, Regulation & Compliance
06/02/2023
Aussie regulator extends date for financial adviser registration
To allow Asic to assist industry with requirements
06/01/2023
SFC and Police joint operation against a suspect of illegal short selling and fraudulent activities
The suspected short selling took place on six trading days and the total proceeds from selling the shares of the four listed companies reached $17.7 million.
06/01/2023
ASIC builds on regtech innovation initiative into poor market disclosure
Eastern Analytica will be tasked with developing a technology solution to help ASIC analyse corporate disclosures.
06/01/2023
APRA agrees to court enforceable undertaking from Bank of Queensland
The CEU also incorporates the findings of an independent report on the root causes of these issues, which was completed at APRA’s request in April 2023.
05/31/2023
Malaysia Said Jho Low Sightings in Macau Confirmed
Revelations of Low’s alleged location follow the arrest of Kee Kok Thiam, a relatively unknown 1MDB suspect, several weeks ago after he was deported from Macau for overstaying beyond visa limits.
05/30/2023
More PwC staff to go, will remain anonymous
"Two independent, non-executive directors will be appointed to PwC Australia's governance board and this process is underway."
05/26/2023
Labuan IBFC Inc. and Qatar Financial Centre Authority enhance strategic partnership
Both parties have signed a renewed MoU to further collaborate on market development and promotional activities
05/25/2023
Harneys advises Edianyun Limited on its Hong Kong IPO
The Corporate team at Harneys advises on complex cross-border transactions involving the British Virgin Islands, Cayman Islands, Luxembourg, and Cyprus corporate vehicles.
05/24/2023
APRA releases quarterly private health insurance statistics for March 2023
Premium revenue in the year ending 31 March 2023 increased by 2.6 per cent through a combination of rising membership and premium increases.
05/24/2023
SFC concludes consultation on regulation of virtual asset trading platforms
Respondents generally welcomed the proposed requirements, while a number of them sought clarifications.
05/23/2023
AFCA outlines systemic issues in wealth management
In the superannuation sector, one identified issue concerned the provision of insurance attached to super funds.
05/22/2023
APRA finalises reforms aimed at strengthening recovery and resolution planning
The reforms are the culmination of several years of policy development to ensure the financial system is better prepared to manage periods of stress.
05/22/2023
7th MAS-CSRC Roundtable Deepens Cooperation in Capital Markets Supervision and Connectivity
The roundtable was co-chaired by MAS’ Deputy Managing Director (Financial Supervision) Ms Ho Hern Shin and CSRC’s Vice Chairman Mr Fang Xinghai.
05/19/2023
Double industry recognition for Carey Olsen's Amelia Tan
Amelia is also one of the few professionals globally who has been accepted into III's Class XII NextGen Leadership Program.
05/19/2023
Hong Kong Launches CBDC Pilot
The second rail focuses on research and pilots while the third rail focuses on the actual launch of the e-HKD.
05/19/2023
New York Fed and Monetary Authority of Singapore Publish Results of Joint Wholesale Cross-Border Payments Research Study
The experiment was conducted in a test environment and the hypothetical payments were settled using simulated wholesale central bank digital currencies.
05/19/2023
Harneys wins Offshore Law Firm of the Year at Asian Legal Business China Law Awards
The results were announced on 18 May at a ceremony attended by Partners Vicky Lord, Maggie Kwok, Wenhao Han, Calamus Huang and Raymond Ng.
05/18/2023
Angola Tycoon Fails to Access Seized Funds at BoS
He claimed that he had no other source of funds and needed the money to pay for his legal expenses in Singapore, Switzerland and Angola as well as for legal representations to various international organizations.
05/18/2023
Malaysia to Relax Rules for Second Home Scheme
Previously, the country approved 49,000 applicants of MM2H since its inception from 2002 to 2019.