12/29/2015
Macro prudential assessment system to be introduced in 2016 - PBOC
PBOC also noted that MPA system will be the replacement of current dynamic adjustment in bank reserves.
Legal, Regulation & Compliance
12/29/2015
China approves IPO reform proposal, new system could start by March
The State Council, or cabinet, had been awaiting approval on its plans to shift to a U.S.-style registration system for stock market floations.
12/29/2015
SEC: Traders In China And Hong Kong Paying $920,000 To Settle Insider Trading Case
Liu was a private equity associate at TPG Capital, which had ties to both of the deals, and maintains a personal relationship with at least one current TPG Capital employee.
12/29/2015
Sri Lanka secures support for Swiss bank account probe
The Swiss authorities agreed to co-operate and provide information if there are accounts in Swiss banks used for money laundering
12/28/2015
Indonesia sets new capital norms for financial conglomerates
As part of capital calculations, the OJK will require conglomerates to measure net equity as the total capital of the parent company and its units, minus the injection or fund placement from parent companies to the units.
12/28/2015
Law firms expanding employment practices
Law firms have been expanding their employment practices to meet a rising demand for litigation, bolstered by tighter labour controls
12/28/2015
Chinese watchdogs team up to punish wayward listed companies
Errant listed firms and their executives will face a more united regulatory front as more than 20 government agencies agree to share information
12/27/2015
Bank of Baroda picks E&Y to review KYC systems
A senior bank executive said the professional services firm (E&Y) is examining the system for international transactions for loopholes and weaknesses.
12/24/2015
17 banks have fund-manager licenses revoked
Instead, they have to set up subsidiary companies to engage in the business, but only after undergoing close government examination and approval.
12/23/2015
China regulator to revoke banks' private fund management qualifications
The banks had registered to conduct private fund management with China's asset management association earlier this year, data from the association show.
12/22/2015
Seven Mainland and Hong Kong funds granted MRF status
The China Securities Regulatory Commission stated on its website that the bureau and the Securities and Futures Commission would continue to register other funds under the MRF in the future.
12/22/2015
ASIC takes no action against UBS over NSW power sale research scandal
The first was headlined "Bad for the budget, good for the state". In the second, issued four hours later, the headline was more upbeat "Good for the state".
12/22/2015
Regulator's 'no action ruling' on UBS has broader implications
The Australian Securities and Investments Commission has used the UBS case to set out a template for control of the research function in large, complex investment banking groups.
12/21/2015
Court’s winding-up ruling on Hong Kong’s Yung Kee goose restaurant sends signal to offshore companies
Legal experts say court order for restaurant’s parent company based in British Virgin Islands could lead to resolution of more disputes in city
12/21/2015
Chinese lawmakers to consider registration-based stock listing reform
Compared with the old system, the new one is more market-oriented
12/21/2015
UBS to take remedial steps after Australia regulator inquiry
ASIC was concerned that UBS Securities' control framework relating to its research function, and its compliance with that framework, at the relevant times was not adequate for an investment bank of UBS' size and complexity
12/21/2015
India to Sign Agreements With Singapore, UAE and Hong Kong to Get Information on Illegal Bank Accounts
The CBDT spokesperson further revealed that AEOI will help create an environment of transparency between 75 countries that have signed the MCAA
12/18/2015
ASIC bans former Macquarie adviser for market manipulation
This was likely to have the effect of creating an artificial price for trading in the affected MINIs on ASX.
12/17/2015
IAG New Zealand's licence cancellation a technicality
Insurance giant IAG New Zealand is reassuring customers about the cancellation of two of its insurance licences.
12/17/2015
Malaysia’s First Home Grown Reinsurance Broker gains approval from Lloyd’s
AFR Asia Pacific Ltd has been approved as Lloyd’s first registered broker in Malaysia, making it one of only 219 Lloyd’s registered brokers across the world