That assurance was given by Laura Cha Shih May-lung, formerly with the China Securities Regulatory Commission, who was appointed by Chief Executive Leung Chun-ying to chair the preparatory work on the council.
Home Affairs and Justice Minister Jason Clare said while the five-year, $113 million figure was alarming, the real toll was likely to be much higher as many victims were often too embarrassed to go to authorities.
Financial services minister Tadahiro Matsushita on Wednesday instructed an advisory panel of scholars and experts to review current regulations and propose new rules, including penalising those who pass on insider information.
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.