08/20/2015
No circular on fixing orders from offshore banks: Zeti
The central bank governor also reiterated that BNM had no plans to peg the ringgit.
Legal, Regulation & Compliance
08/19/2015
HSBC, Stan Chart’s compliance expansion scuppered by junior churn
Stan Chart is now set to continue its compliance hiring spree, which is focused on Asia
08/19/2015
Pua asks if 1MDB even knows how much ‘units’ in Singapore are still worth
Pua also contested Arul Kanda’s claim that Malaysia was “not a jungle” without laws
08/19/2015
Goldman Sachs's unit obtains Hong Kong banking license
A wholly-owned unit of Goldman Sachs Group received a banking license from The Hong Kong Monetary Authority (HKMA), the HKMA announced on Wednesday, in a step that creates a local subsidiary through which the U.S investment bank can book its trades.
08/19/2015
Switzerland's FINMA looking into possible Swiss connection to 1MDB
The fund has been dogged by controversy over its $11 billion debt and alleged financial mismanagement.
08/19/2015
India shakes up financial sector with payments bank licences
Designed to boost financial inclusion, payments banks will allow transfers and take deposits up to a limit of Rs100,000 ($1,532), and are expected to reach customers predominantly via mobile phones.
08/18/2015
ICBC chairman welcomes fintech regs
The rules stipulate that client funds be held at recognised banks, that traditional bank accounts be used to channel large payments, and increased the disclosure requirements for online lending or crowdfunding platforms.
08/18/2015
SEBI to assess salary cost of asset management companies
Some funds pay fancy salaries to their heads and other officials, resulting in erosion of capital, which ultimately affect the investor adversely.
08/18/2015
China shadow banks appeal for government bailout
Analysts worry that a series of bailouts in recent years has encouraged irresponsible lending by fuelling the perception the government will not tolerate default.
08/17/2015
SEBI Relaxes Norms To Make It Easier For Startups To Raise Funds And Get Listed
The new initiative is brought into the effect mainly to encourage Indian startups and entrepreneurs to stay in the country
08/17/2015
Viet Nam: DongA Bank put under special supervision
It said it would also comprehensively reorganise DongA for the bank's secure, healthy and sustained development.
08/17/2015
IRESS signs major offshore group to broking software
Financial services technology and software provider IRESS has signed a deal with global equities transaction broker to provide order management services for its local operations.
08/14/2015
Recent changes in Chinese Foreign Exchange Policy - RBC Global Asset Management
Facts and Implications
08/13/2015
Former Westpac financial planner permanently banned
The false policies contained invented details, including imaginary conversations and false signatures, and none were either requested or approved by any existing or new Westpac customer.
08/10/2015
Online equity financing platforms to be regulated by China
The inspection will focus on several aspects, including whether the online fund raisers have promoted themselves publicly
08/10/2015
Court takes ACCC back to basics
In ANZ, the ACCC contended for a market for the supply of loan arrangement services
08/10/2015
NZ Super Fund's debt claim against Portuguese bank OK'd for UK court
The central bank of Portugal bailed out BES, splitting its assets and loans into a good and bad bank, with the bank's main shareholders forced to leave their interests in the bad bank.
08/07/2015
Eversheds adds corporate partner in HK
The firm’s Asia corporate practice comprises 30 lawyers, including eight partners.
08/06/2015
Australian tax data exchange unlawful, court rules
A judge’s ruling that the Cayman Islands Tax Information Authority acted unlawfully when it handed over a trove of documents on two Cayman-registered companies to Australian tax authorities has been upheld by the Court of Appeal.
08/05/2015
China Central Bank Defends Online Payment Rules, Critics See Rules Stifling Industry Innovation
China’s central bank has moved to defend draft rules that would force online payment processors to channel large payments through traditional bank accounts