Singapore is one of the first economies to report growth data since the virus outbreak began, and the dismal figures add to signs the world is heading for a deep, painful recession with more than three billion people now under lockdown.
In May 2019, Martin pled guilty to offences that saw him dishonestly obtain $208,000 in client funds.
The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.
The proposed schemes, promoted in Hong Kong and Bermuda, sought to compromise those debt securities with US$41.4 million paid upfront and new notes being issued to the value of the remaining debt.
Separately, the SC has announced further relief measures for licensed entities and individuals, including annual licensing fee waivers and reductions of CPE (Continuing Professional Education) and professional training requirements.
To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a
The other bribery charge alleges that on or about December 21, 2017, Lum offered the HK$2m to Yeoh for the same purpose.
Chew and Yap will be imprisoned for 45 and 42 months, respectively. William Lin, former representative of OCBC Bank, was issued an eight-year prohibition order and will be jailed for 16 months for cheating a client.