07/23/2012
Clifford Chance elects new Tokyo head
Capital markets partner Kanda will assume the role on 27 July.
Legal, Regulation & Compliance
07/22/2012
Singapore top of Simmons' international growth agenda
Hoyland also said that Singapore was “probably top of the agenda” in terms of international expansion but added that there was not a long list alternatives.
07/22/2012
Super-rich ‘hiding’ at least $21 trillion
The Price of Offshore Revisited was written by James Henry, a former chief economist at the consultancy McKinsey and commissioned by the Tax Justice Network.
07/19/2012
Hedge Fund Manager Dubbed ‘King of Tokyo’ Has Left Japan
Dubbed the “King of Tokyo” by traders, the 53-year-old American seemed to have it all: wealth, professional acclaim and status as a patron of contemporary art.
07/19/2012
Japan Banking Minister: FSA Will Deal With Wrongdoing Related To Tibor
"We should think of rates manipulation and internal controls as separate things," he said.
07/18/2012
Global Investment Management Industry Continues To Face A Regulatory Avalanche Of Disparate Rules: KPMG Report
Observers, however, are beginning to see some consistency regarding the implementation of new regulations across the globe, with the U.S. and Europe setting the bar and Asia catching up.
07/18/2012
Withers appoints first Chinese partner
She is Withers' first Chinese partner globally and is the seventh partner in Asia.
07/18/2012
Indonesia's new bank ownership rules leave door open for DBS deal
The long-awaited regulation announced on Wednesday is aimed at preventing lenders in the fast-growing G20 country falling captive to single interests and ensuring a diverse shareholder base to hold management accountable.
07/17/2012
Societe Generale is to repay HK wealth management clients $11 million
The Securities and Futures Commission said it had raised concerns that in more than 3,000 transactions, Societe Generale's clients had paid or received a different price for over-the-counter traded products than the price paid by the bank, with the d
07/17/2012
Hong Kong Court Refuses to Strike Deutsche Bank Lawsuit
Tin Lik, the developer, sold the Gateway Plaza in Beijing to the bank’s RREEF China Commercial Trust (625) in 2007 and alleged that investment bankers inflated rents from the property before the trust’s Hong Kong listing in June that year.
07/17/2012
HKMA and SFC release joint consultation conclusions & supplemental consultation relating to the proposed regulatory regime for the OTC derivatives market in Hong Kong
For a discussion of the HKMA and SFC's proposals in the Consultation Paper, please see our client briefing entitled "HKMA and SFC begin joint consultation process relating to the reporting, clearing and trading of OTC derivatives in Hong Kong&am
07/16/2012
Investors Weigh Extent of Sun Hung Kai Scandal Fallout
Barclays, which has an underweight position on the stock, downgraded its price target on the company to HK$87.50 ($11.25) from HK$92.16, warning that the shares could be vulnerable to heavier losses in the coming months. This represents a downside of abou
07/15/2012
Hong Kong property tycoons are charged with corruption
Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of Asia’s wealthiest men, were among five people charged with eight offences, an official statement said.
07/15/2012
South Korea, Switzerland TIE Protocol Takes Effect
The Finance Ministry stated that it had been agreed to make it easier for the tax authorities in each country to request and obtain financial information, allowing for the disclosure of information on bank accounts believed to be operated by those of the
07/12/2012
Ex-bank exec slapped with theft case
The Department of Justice approved the filing of 87 counts of qualified theft case against a former executive of Citibank for allegedly embezzling over P100 million of his client’s money.
07/12/2012
Op-Ed: Switzerland stung by allegations of Indian black money
The bilateral treaty between India and Switzerland, the Double Taxation Avoidance Agreement (DTAA), provides the framework within which Indian authorities can seek administrative assistance against tax evasion or fraud.
07/11/2012
Banks play cat-and-mouse with Beijing to comply with rules
This practice, which started last year, exaggerates the size and stability of banks' liquidity and masks any stresses on the country's financial system at a time when the world's second-biggest economy is expanding at the weakest pace since
07/11/2012
US banking giant to apologise over lax money laundering controls
In the note sent to employees on Tuesday, the London-based lender's chief executive Stuart Gulliver said the Permanent Subcommittee on Investigations would expose weaknesses in the bank's money laundering controls.
07/09/2012
Swiss HSBC account holders offered India amnesty, says official
India joins countries including the UK and the US in cracking down on rich people who haven’t disclosed offshore funds amid probes into money laundering and tax evasion.
07/09/2012
Finance council 'won't spark turf wars'
That assurance was given by Laura Cha Shih May-lung, formerly with the China Securities Regulatory Commission, who was appointed by Chief Executive Leung Chun-ying to chair the preparatory work on the council.