The Monetary Authority of Singapore (MAS) has issued prohibition orders against those involved in the 1Malaysia Development Berhad (1MDB) state fund breach, one of the world’s largest money laundering scandals in recent history.
Category: Regulation
Second US firm receives RQFII quota
Boston-based Acadian Asset Management received an RQFII quota to invest onshore, becoming only the second US-based asset manager to be granted the allocation.
HK to review fund industry’s tax concerns
The Hong Kong government will be conducting a comprehensive review of the existing tax concessions applicable to the fund industry, according to Paul Chan, Hong Kong’s financial secretary.
Survey: Compliance most painful for Hong Kong PBs
Regulatory compliance and talent management are among the major challenges for private banks and wealth management firms in Hong Kong, according to a survey report from the Private Wealth Management Association (PWMA) and PwC.
SFC: More concern over discretionary mandates
Hong Kong’s regulator has identified additional concerns about firms engaged in managing private funds and discretionary accounts.
HKMA suspends ex-StanChart RM for forgery
The Hong Kong Monetary Authority has suspended Yip Wai Pang, a former relationship manager at Standard Chartered Bank for 18 months for forgery, according to a statement from the regulator.
China Ponzi scheme execs to spend life in prison
The architects behind a Ponzi scheme that cheated 900,000 investors out of RMB 50bn ($7.6bn) were given life sentences.
China tightens hold on $780bn MMF industry
Chinese regulators continue to rein in money market funds with new rules, but Tencent has launched its own MM product to compete with Yuebao, the world’s largest.
Hong Kong’s SFC reins in digital tokens
Following China and Singapore, Hong Kong’s Securities and Futures Commission has clarified its position on the offer of digital tokens in Hong Kong.
Thailand loosens cap on offshore investment
The Bank of Thailand (BoT) has raised the ceiling to $100bn for domestic investors who want offshore exposure.
