01/20/2022
MAS and ABS Announce Measures to Bolster the Security of Digital Banking
Banks will continue to work closely with MAS, the Singapore Police Force, and the Infocomm Media Development Authority (IMDA) to deal with this scourge of scams.
Legal, Regulation & Compliance
01/20/2022
APRA updates reporting schedule for new operational risk reporting standard
The letter to industry and clean and marked up versions of the reporting standard are available on the APRA website at: Revisions to the capital framework for authorised deposit-taking institutions.
01/20/2022
ASIC consults on revised ETP naming conventions
ASIC welcomes submissions on CP 356 from all interested parties by 3 March 2022.
01/19/2022
APRA releases new frequently asked questions on the Superannuation Data Transformation project
The FAQs are available on the APRA website
01/19/2022
Reliance joins calls for India to tighten marketplace rules -sources
Sign of growing rivalry between Reliance, Amazon -sources
01/19/2022
Greenwashing risk could stymie China’s rise as world climate leader
All the pieces are in place for China to step forward as a global climate leader, but the country’s next steps could determine whether its ambitious targets bring about substantive change or fade away into greenwashing.
01/19/2022
Allen & Overy advises UOB on the acquisition of Citigroup’s consumer business in four ASEAN countries
The franchise across the four markets comprises its unsecured and secured lending portfolios, wealth management and retail deposit businesses.
01/18/2022
Statewide Superannuation to pay $4 million penalty for misleading correspondence to members
The Court also found that, in making these representations, Statewide breached its obligations as an Australian financial services licence holder to act efficiently, honestly and fairly and to comply with financial services laws.
01/18/2022
BGC Partners pays $110,250 infringement notice
The Markets Disciplinary Panel noted that there had been previous compliance failures of this type by BGC Partners.
01/18/2022
Harneys Hong Kong recognised as “an established and trusted law firm” in Legal 500 rankings
Harneys Hong Kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in English, Mandarin, and Cantonese.
01/18/2022
Harneys Singapore commended as “progressive, reliable and responsive” in Legal 500 rankings
Our teams are always ready to offer advice across different offshore structures and initiatives.
01/17/2022
MAS Issues Guidelines to Discourage Cryptocurrency Trading by General Public
DPT service providers can only market or advertise on their own corporate websites, mobile applications or official social media accounts.
01/14/2022
When the rubber hits the road – making insurance claims under the new reforms
ASIC received over 300 applications for a claims handling and settling service AFS licence authorisation in 2021.
01/14/2022
Leading law firm for 14 areas in Asia Pacific in 2022 editions of Chambers Greater China and Legal 500
This closely follows our recent incredible showing in the Chambers Asia Pacific Guide 2022.
01/14/2022
Top Tier ranking for Carey Olsen in The Legal 500 Asia-Pacific
Lawyers are also praised for their ability to 'work quickly and efficiently whilst maintaining the very high standards they have always had' as well as their 'extensive experience in handling BVI litigation proceedings'.
01/14/2022
The Monetary Authority takes disciplinary action against 33 Financial Services Limited for contravention of the Payment Systems and Stored Value Facilities Ordinance
The Monetary Authority (MA) has reprimanded and ordered 33FS to pay a pecuniary penalty of HK$875,000 for contravening section 8Q of the PSSVFO as it failed to fulfil the minimum criterion relating to anti-money laundering and counter-terrorist financing
01/14/2022
Malaysia: Policy changes announced on taxation of foreign-source income, stamp duty remission
The finance act does not specify when income will be considered to be “received” in Malaysia.
01/13/2022
Malaysia Says Recovered 1MDB Funds Only Enough to Pay Debt Principal for 2022
The government has repaid 13.3 billion ringgit of 1MDB's debt so far, with 38.81 billion ringgit still outstanding as of Dec. 31, the ministry said.
01/13/2022
Appleby's Hong Kong Office Recognised as a Long-Established and Well-Regarded Offshore Firm by Legal 500
Appleby is one of the longest established offshore firms in Hong Kong
01/13/2022
Being on top of Ultimate Beneficial Ownership Compliance
While for lawmakers it is still a field for further discussion, companies in different jurisdictions are required to be compliant with the UBO laws already set out.