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Legal, Regulation & Compliance

12/16/2021

Praise for Carey Olsen's Singapore and Hong Kong SAR offices in Chambers Asia-Pacific

The latest edition of the highly respected international legal directory also saw Singapore partners Anthony McKenzie and James Noble, and Hong Kong partner Jeremy Lightfoot recognised individually.

12/16/2021

MAS Proposes to Introduce Due Diligence Requirements for Corporate Finance Advisers

The consultation paper is available on MAS’ website . MAS invites interested parties to submit their comments on the proposals here by 15 February 2022.

12/16/2021

Bedell Cristin advises first wholly owned Singaporean listed REIT

It is entering the UK REIT regime to future-proof the overall tax structure of EliteCReit and provide an improved platform for expansion within the UK market.

12/16/2021

Leading law firm for 10 areas in Singapore and Japan in Chambers Asia Pacific 2022

This is only possible through the thoughtful feedback provided by our clients and business partners.

12/16/2021

Why climate risk is also a human rights risk: KPMG and RIAA launch new guide for institutional investors

The guide points out that this gap is a risk to institutional investor trustees that must be addressed as an urgent matter of prudent risk management.

12/15/2021

Charge withdrawn against former director James Feng

The CDPP has conducted a further review of the matter and determined that the charge against Mr Feng be withdrawn.

12/15/2021

ASIC sues OnePath for fees for no service misconduct

ASIC is seeking declarations, pecuniary penalties and other orders from the Federal Court.

12/14/2021

21-346MR ASIC cancels AFS licence of Premier Wealth Management

Premier Wealth Management has the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.

12/14/2021

ASIC bans Sydney based financial advisers for five years

ASIC found Mr Allen was involved in Mr Cummings’ non-compliance with the requirement to provide Statements of Advice.

12/14/2021

APRA proposes changes to align capital and reporting frameworks for insurance with AASB 17

The proposals are also relevant for private health insurers, given APRA’s intention to align the private health insurance capital framework to LAGIC.

12/14/2021

APRA moves to strengthen capital standards in private health insurance

The proposals increase minimum capital requirements, however the industry is very well-capitalised and already holds capital significantly in excess of the new proposed regulatory minimums.

12/13/2021

Enhancements to the Code of Banking Practice

The revised Code is effective from 10 December 2021.

12/13/2021

Increasing the issuance of Exchange Fund Bills

The HKMA will continue to monitor market situations, and reserves the flexibility of adjusting or not executing the aforesaid eight increases.

12/13/2021

World Bank approves $600m funding for Philippine reforms

The Philippines lags peers in east Asia and the Pacific in direct foreign investment into areas such as retail, the bank said

12/10/2021

Singapore and China Regulators to Boost Supervisory Cooperation

The roundtable was chaired by MAS’ deputy managing director Ho Hern Shin and CBIRC’s vice chairman Zhou Liang.

12/10/2021

Super trustees offering default income protection insurance urged to check on member outcomes

ASIC has written to the five trustees outlining specific findings and areas for improvement.

12/10/2021

ASIC signs MoU with Croatian Financial Services Supervisory Agency

This MoU complements the 29 other supervisory cooperation arrangements ASIC entered into with EU securities regulators in 2013

12/09/2021

ASIC seeks feedback on proposed intervention orders for short term credit and continuing credit contracts

This consultation continues ASIC’s work to address high cost predatory lending impacting vulnerable consumers.

12/09/2021

ASIC highlights focus areas for 31 December 2021 financial reports under COVID-19 conditions

Entities may continue to face some uncertainties about future economic and market conditions, and the impact on their businesses.

12/09/2021

ASIC sues ANZ for misleading customers and failing to provide promised benefits – final Royal Commission investigation

ASIC also alleges that ANZ’s offset customers were entitled to interest rate reductions on eligible home and commercial loans but they were also not always provided to customers.

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