06/18/2018
Westpac Charged For Wealth Flaws
Sinha was punished with a five-year ban last year for charging fees without providing all the advice customers had paid for.
Legal, Regulation & Compliance
06/18/2018
1MDB controversy: Legal eagles hired by parties involved
FARA requires agents representing the interests of foreign powers to disclose their relationship with the foreign government and information about related activities and finances.
06/18/2018
Aussie bank faces landmark lawsuit over bad advice
Asic is contending that, since Westpac held the financial services licence used by Sinha, the bank is liable for the alleged breaches, which carries a maximum penalty of A$1m (£564,084, €642912, $753,089) per breach.
06/18/2018
Open justice versus privacy of trust (HSBC Trustee (CI) Ltd v Kwong and others)
First published in ePrivateclient in May 2018.
06/15/2018
Malaysia to seek return of 1MDB money from banks, political parties
Having defeated his former protege in an election last month, Prime Minister Mahathir Mohamad’s administration has launched an investigation into how the fund founded by Najib lost billions of dollars.
06/14/2018
Royal commission: banks pledge transparency on valuations
CBA said its policy is to provide a copy of valuations to customers when customers have paid for it, "except in limited circumstances".
06/14/2018
China eases capital curbs on qualified foreign investors
The measure was imposed to prevent capital outflows caused by stock market volatility.
06/14/2018
PNB fraud: Enforcement Directorate asks Interpol to issue red corner notice against Nirav Modi in money laundering case
The agency's move comes in the wake of the charge sheet it filed against 23 people including Nirav Modi in a special court in Mumbai.
06/14/2018
Investors in no mood to buy the dip in Australian banks
Tougher regulatory climate and slowing housing market changes the equation
06/14/2018
Asset managers raise pressure on Japan's board appointments
Calls intensify for more outside directors and fewer cross-held shares
06/13/2018
Quantitative tightening puts Asian markets on volatile path
The ramifications of the Federal Reserve raising rates and unwinding its balance sheet, just as the European Central Bank looks set to end its bond-buying programme, is occupying investors in Asia.
06/13/2018
UK Tier 1 investor visa applications among Chinese nationals soars by 56%. Roman Abramovich no longer interested in UK Visa.
Perhaps some very wealthy people may wish to consider other UK visa routes such as the tier 2 sponsorship licence and tier 2 visa scheme
06/13/2018
Standard Chartered applies for virtual banking licence in Hong Kong
Standard Chartered has also been a founding sponsor of local fintech accelerator SuperCharger Hong Kong, since 2015.
06/12/2018
Billions in cryptocurrency wealth wiped out after hack
The exchange did not disclose the value of tokens stolen. The theft was of less well-known cryptocurrencies rather than bitcoin itself.
06/11/2018
Major South Korean Crypto Exchange Coinone Facing Online Gambling Charges
As such, margin trading in the US, for example, is heavily regulated by bodies like the Federal Reserve Board, the New York Stock Exchange, and the Financial Industry Regulatory Authority.
06/11/2018
Thailand unveils new detailed cryptocurrency, ICO regulations
According to the SEC decree, companies looking to conduct an ICO must signify the type of token being issued as well as other pertinent investment information.
06/11/2018
Mahathir woos Japanese investors in bid to move away from China
Cash-strapped Malaysian government can look to tap Japan's vast pool of low-cost capital
06/11/2018
Linklaters – Zhao Sheng joint operation in Shanghai Free Trade Zone
Karthi Chidambaram gave an written undertaking to appear before the concerned IT official on June 28.
06/10/2018
Tax Agency Finds South Korea's Biggest Cryptocurrency Exchange Not Guilty of Tax Evasion
Earlier this year, the government raided the headquarters of UPbit in Seoul for allegedly deceiving investors, and almost immediately after turned to Bithumb over potential malpractice and suspicious business activities.
06/10/2018
Russian firms involved in disputes may turn to Hong Kong as city’s rising arbitration skills shine bright
Restrictions may apply to the import or the use of services from companies registered in counter-sanctioned countries or from companies with any shareholding held by an individual or company from these countries.