The banks, which are classified under the government’s Qualifying Full Banks Programme, will be evaluated based on their market share of domestic deposits.
The fifth partner is Jason Carmichael, who focuses on corporate and M&A. He joins from local Hong Kong firm CdB and JC& Co, which he co-founded in 2009 after he left Clyde & Co’s Hong Kong office.
The announcement confirmed the terms of the report late on Thursday. In the year to end-March, 59-year-old Watanabe was paid 128 million yen ($1.6 million), including options.
The chief executive of CIMB Group also said that following this year’s deals for parts of RBS's investment bank in Asia and a commercial bank in the Philippines, he has finished the acquisition spree that increased staff 40 times and grew the b
Forty-four per cent of the promotions were made in the firm’s Asia Pacific practices, where 28 partners were elected, with 20 across its Europe, Middle East and Africa offices, nine in North America and six in Latin America.
Besides the fine for rejecting claims, the regulator has also penalized the company for paying unauthorized commissions to group companies, including HDFC, HDFC Bank and HDB.
Matsushita, head of Japan's Financial Services Agency, made the comments a day after prosecutors arrested former SMBC Nikko Securities executive Hiroyoshi Yoshioka and three others on insider trading allegations.
According to the report, the evolving regulatory framework for asset managers in a number of Asian countries, particularly with regard to consumer protection and fair dealing, is as tough as in Europe and the US.
Japan’s Securities and Exchange Surveillance Commission and Yokohama city prosecutors are investigating former SMBC Nikko executive Hiroyoshi Yoshioka, 50, and the other individuals, the financial watchdog said in a statement.
Bank Indonesia deputy governor Halim Alamsyah said in the Bank Indonesia Regulation on Banking Ownership Structures, BI differentiated three categories — ownership of up to 40 percent, up to 30 percent and up to 20 percent.
After the financial crisis of 2008, many financial institutions had to be bailed out by their respective governments. This necessitated stricter regulations, including higher capital requirements for banks to weather future shocks relatively better.
He didn't provide examples of excessive fees or specify any banks. But banks in general have come under criticism for charging high fees for a range of services, particularly as they record unusually strong profits.
Mr X, as the person has been referred to by tribunal, denied he owned an account with the UK-based UBS Wealth Management, called Customer A account, used by some UBS officials to make large-scale unauthorised transactions.