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.
Legal, Regulation & Compliance
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
12/17/2015
A Stern Warning from the Supreme Court in England to Spouses who Hide their Assets - Withers
Implications for Hong Kong?
12/16/2015
Crunch Time for Indonesia Central Bank as Fed Prepares to Raise
Yet policy makers are signaling they are not ready.
12/16/2015
Doing Business in China: Unlock Investment Opportunities - King & Wood Mallesons
Emerging opportunities in e-commerce, finance and new ways to appeal to China’s increasingly sophisticated consumer base, are transforming the commercial landscape for investors.
12/16/2015
South Korean tycoon Lee Jay Hyun jailed for fraud, tax evasion
The court also handed down 25.2 billion won (S$30 million) in fines.
12/16/2015
Hong Kong Court refused to make a grant of administration ad colligenda bona for lack of special circumstances and special justification
The application related to the interests of the deceased in a BVI company called Five Star. Five Star held a substantial number of shares in Paladin, a listed Hong Kong company, which in turn owned a valuable property on the Peak (Peak Property).
12/16/2015
China takes important step to boost international co-operation against tax evasion
The G20 Leaders have repeatedly stressed their commitment to automatic exchange of information, most recently at their November meeting in Antalya, Turkey.
12/16/2015
US and Chinese Financial Intelligence Units sign Memorandum of Understanding to facilitate information sharing
Regulators are working more closely than ever before