03/16/2021
ASIC disqualifies Victorian director for five years
Fair Finance operated in the business and personal services industry and LD Scaffolding and DLP Scaffolding were involved in construction and labour hire services.
Legal, Regulation & Compliance
03/16/2021
APRA releases quarterly authorised deposit-taking institution statistics for December 2020
The ADI industry was resilient in the December quarter, with high capital ratios and strong liquidity and funding positions.
03/15/2021
Malaysia mulls higher social security contribution rate, not raised in 50 years, report says
Socso contributions are compulsory and are deducted from employees’ monthly salaries.
03/15/2021
FATF, Egmont Group Identify 35 Indicators of TBML Risk
The risk indicators provided in the new report are derived from a sampling of data received by the FATF and the Egmont Group.
03/15/2021
ASIC permanently bans Melbourne adviser and cancels AFS licence of The Australian Dealer Group Pty Ltd
ASIC found that Mr Bhandari acted dishonestly while assisting consumers to find and consolidate their superannuation and obtain hardship payments.
03/15/2021
Hong Kong Cross-Border Wealth Scheme Delayed by Pandemic
Hong Kong Banks Ready for Greater Bay Area Dive
03/12/2021
Chinese State-backed Funds Intervene to Calm Market
The CSI 300 Index closed 0.66 percent higher on Wednesday (10 March), though gains were capped by concerns of policy tightening.
03/12/2021
Market Misconduct Tribunal sanctions Magic Holdings International Limited and its directors for late disclosure of inside information
The MMT considered that Magic’s breach of the disclosure requirement was all the more serious
03/12/2021
BOT Unveils Results of ‘CBDC for Business’ Project
The BOT has announced the results of tests on its CBDC for Business Prototype Development Project.
03/12/2021
S. Korea Amends Bill to Protect Private Equity Fund Investors
The measures included requirements for PEFs to undergo regular audits, adopt new valuation guidelines, conduct regular liquidity stress tests, and cap leverage at 400 percent of assets.
03/12/2021
ASIC obtains compliance orders for court enforceable undertaking
ASIC Commissioner Danielle Press said, ‘ASIC first took action in this matter because the law requires that financial advisers act in their clients’ best interests.
03/12/2021
ASIC imposes additional licence conditions on retail OTC derivatives issuer AxiCorp Financial Services Pty Ltd
On the same day, AxiCorp applied to the Administrative Appeals Tribunal (the Tribunal) for a review and stay of ASIC’s suspension decision
03/12/2021
APRA closes investigation into Westpac anti-money laundering breaches
Having carefully considered the results of ASIC’s investigation, APRA has determined to close its investigation.
03/11/2021
Indonesia bourse to allow dual-class shares, SPACs to draw tech firms, report says
SPACs are shell companies that raise money via an initial public offering for the sole purpose of acquiring another firm.
03/11/2021
BOJ, FSA Urge FIs to Push Forward LIBOR Transition
The BOJ-FSA letter is aimed at helping financial institutions better understand the need to urgently take action to prepare for the cessation of LIBOR, in light of the latest announcements.
03/11/2021
ASIC consults on implementing a deferred sales model for add-on insurance products
The deferred sales model introduces a four-day pause between the sale of a principal product or service and the sale of an add-on insurance product.
03/11/2021
Singapore central bank to invest US$2 billion in green assets via select managers
“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey,”
03/11/2021
FSC Korea Extends Easier Liquidity Rules for Banks
The easier liquidity rules, after an extension in August, have been scheduled to end this month. The FSC has now decided to extend the measures until end-September.
03/11/2021
Myanmar Banks Fail to Resume Operations Despite CBM Order
The banks lack staff for functions ranging from counting money to providing payroll services to companies, the Financial Times reports.
03/10/2021
Ogier launches Talent4Impact fellowship for next generation of ESG professionals
This is a really unique opportunity to gain exposure to the ESG and Impact at specially selected local businesses and organisations striving to transition Hong Kong to a sustainable economy.