09/01/2022
China Arrests Hundreds in Rural Banking Scandal
Regulators have been offering repayments to depositors since mid-April beginning with accounts that have smaller amounts before gradually moving to larger accounts.
Legal, Regulation & Compliance
08/31/2022
Alibaba Selected for US Audit Inspection
Alibaba’s accounting firm PwC has also been informed of the audit inspection.
08/31/2022
Islamic banking to continue seeing growth in South-east Asia
Players in the Islamic financial services industry have drawn similarities between the values of Islamic financing and recent sustainability trends.
08/31/2022
ASIC warns brokers considering high-risk offers to retail investors
To broaden their revenue base, some brokers are seeking to offer retail investors high-risk products or services that may be unfair, inappropriate or result in poor outcomes.
08/30/2022
Appleby’s Hong Kong Office Advises Burke Porter Group on its sale by CEL Global to AEA Investors
It has an extensive history of partnering with leading companies in the industrial technology and automation industries to achieve growth and operational improvements.
08/30/2022
APRA grants Vanguard superannuation licence
Harnessing the wider Vanguard group’s global investment expertise and more than 25 years’ experience serving Australians
08/26/2022
Beijing Nears Deal to Allow US Audit Inspection
The China Securities Regulatory Commission recently informed some accounting firms and companies about the plan with the possibility of US inspectors arriving in Hong Kong as early as next month.
08/25/2022
Conyers Shortlisted for ALB Hong Kong Law Awards 2022
His recent mandate includes HUTCHMED’s IPO which is also shortlisted in the ALB awards this year.
08/25/2022
Singapore Authorities Take Actions Against Noble Group Limited and Former Directors of Noble Resources International Pte Ltd
MAS has imposed a civil penalty of $12.6 million on NGL for publishing misleading information in its financial statements, in breach of section 199(b)(ii) of the Securities and Futures Act (SFA).
08/25/2022
Bank compliance for wealth management subsidiaries
When establishing BWMS, the qualifications and business capacities of shareholders, especially initiators and controlling shareholders, are of great concern and strictly examined by regulators.
08/25/2022
‘Absolutely glorious’: Malaysians hail jailing of Najib Razak
Malaysians say they hope Najib’s jailing serves as a warning against corruption as the former prime minister spends his first day in prison at a complex outside the capital.
08/24/2022
Ex-Malaysia PM Loses Final Appeal and Heads to Jail
The latest convictions are just part of one out of five trials that Najib faces over 1MDB-linked accusations.
08/23/2022
Finance ministry sets targets for banking system
The Ministry of Finance (MoF) has issued targets for restructuring banks in a bid to bolster the strength of Vietnam’s financial sector.
08/22/2022
Use of technology in arbitration and court proceedings in Hong Kong
There are also increased demands in the industry for the use of technology in court proceedings, and accordingly, innovative measures have been introduced in the Hong Kong Special Administrative Region.
08/19/2022
AMTD Digital’s Underwriter Probed by Hong Kong Watchdog
AMTD has been recently placed in the spotlight after the share price of its newly listed digital unit surged more than 32,000 percent
08/18/2022
UOB and Doxa team up to digitise trade financing and procurement
This will unify the financial ecosystem and we are excited to be part of this journey.
08/17/2022
ASIC secures over $102 million in remediation for Freedom Insurance customers, with more to come
AIA Australia, NobleOak Life, Swiss Re Life & Health Australia and ClearView Life Assurance issued the policies distributed by Freedom Insurance.
08/16/2022
Thailand securities regulator awards four new digital asset licences
Earlier this month, the central bank announced plans to kick off a pilot project to test its digital currency at the end of the year.
08/15/2022
ASIC bans West Australian financial services director for six years
Ms Hutchinson has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
08/12/2022
APRA releases final reporting standards on updated capital framework for banks
APRA has made changes to these new collections to better meet data needs, simplify reporting requirements, and reduce the need for future data collections and ad hoc requests.