06/17/2019
South Korea’s Pension Fund to Adopt New Hiring Policy Amid Staff Exodus
The NPS has been having trouble attracting experienced portfolio managers — so it’s looking at training its own.
Legal, Regulation & Compliance
06/17/2019
Australian regulator slaps stricter conditions on AMP's pension funds
The new directions and conditions are designed to deliver enhanced member outcomes by requiring AMP Super to make significant changes to its business practices.
06/17/2019
Can another 1MDB happen again?
The scandal has led to an eight to nine percent increase in the cost of anti-money-laundering compliance for companies over the past two years – and the amount is expected to rise by a similar percentage this year according to a recent survey
06/17/2019
President Duterte vows to go after big, powerful landowners
The President also criticized communist rebels who carry out their own version of land reform.
06/17/2019
ED moves NCLT to stop liquidation of Winsome Diamonds
The ED wants the liquidation to be halted as it is in the midst of establishing the money trail that led to an alleged loan fraud of $1.26 billion (around Rs 8,800 crore) by the company in 2013.
06/17/2019
UBS puts economist on leave after pork comments offend China
The Swiss bank is reviewing the matter and evaluating whether more steps need to be taken, a spokesman said by email.
06/17/2019
Singapore's GIC ties up with local firm to build data centre in Indonesia
It will adopt a hyperscale model, to be leased on a large, long-term basis to wholesale clients," the fund says
06/17/2019
ASIC FAR, advice industry contract
The significant decline is likely a combination of natural attrition and also multitude of reforms impacting the industry at present such as education standards and changes to advice remuneration.
06/14/2019
Diamond group credit fraud investigation leads Indian authorities to Macau
The former Winsome Diamonds Director has justified the default by stating that that the group’s customers in the Gulf region were hit by derivatives and commodities trading losses of US$1 billion and were unable to pay him.
06/14/2019
Hong Kong, Singapore Cooperate on Personal Data Protection
We look forward to strengthening our working relations
06/14/2019
Taiwan registers 44% surge in insurance complaints
Sales agents giving false information regarding policy coverage, guaranteed interest rates or regulations on premium payments made up the majority of non-claims-related cases, it said.
06/14/2019
ANZ cleared of $50m fee bungle
It had provided the documented annual reviews from January 2014 to March 2018 to required clients and is expecting to complete remediation by mid-July for 1410 instances where annual reviews were not found to have been provided.
06/14/2019
AMP Super, board slapped with licence conditions
The new directions will force AMP Super to renew and strengthen its board.
06/14/2019
Monetary Authority of Singapore and UK financial authorities announce collaboration on cyber security
The collaboration will involve MAS and the UK financial authorities identifying effective ways to share information and exploring potential for staff exchanges.
06/14/2019
Nomura and Nomura Research Institute Sign MOU to Establish Joint Venture Company
The joint venture will make use of blockchain technology to develop a platform for exchanging securities and other rights.
06/14/2019
Noah receives advisory licences in Canada
With the new licences, the New York-listed Chinese wealth manager will be able to give financial advice to high net worth individuals and family offices in Canada.
06/13/2019
Invest in Sharjah to hold 5th FDI Forum in November
The fifth edition of the event is expected to host 1,000 leading regional and global names from a multitude of industries, who will be deliberating on the future of FDI behaviour worldwide.
06/13/2019
Pakistan austerity budget hikes tax target, ministers to take salary cut
As expected, defence budget has been retained at Rs1.15 trillion.
06/13/2019
Citigroup unit suspended from Japan bond auctions for manipulation
The suspension comes days after the Financial Services Agency fined the firm 133 million yen (S$1.67 million) and ordered it to improve internal controls for failing to detect instances of manipulation of the Japanese government bond market.
06/13/2019
Vanguard ties up with Ant Financial
The world’s second largest asset manager has set up a financial services joint venture with Alibaba affiliate Ant Financial, according to public records.