Account holders in Singapore have been told by the taxman to fully cooperate with their financial institutions as they determine the tax residency status of their clients under the Common Reporting Standard (CRS).
Category: Regulation
Ex-Citibank HK banker penalised for copy-and paste signature
A former Citibank senior personal banker in Hong Kong has been penalised for copy-pasting a client’s signature to deceive the bank into accepting the signature as genuine.
Singapore charges Falcon PB official
Swiss national Jens Sturzengger has become the first westerner to be charged by a Singapore court as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
Fidelity’s WFOE obtains first private fund license in China
The firm will be allowed to create onshore investment products for eligible Chinese institutional and high-net-worth investors, and UBS AM is expected to follow.
HK allows broader use of indices for L&I ETFs
Starting January 9, issuers can apply for listings of leveraged and inverse ETFs tracking all broad-based indices except mainland China- related indices, Hong Kong’s Securities and Futures Commission said.
SFC sets new rules for senior management oversight
Senior managers at financial firms must take greater accountability for corporate wrongdoing, according to a circular released by the Hong Kong Securities and Futures Commission (SFC) on Friday.
MAS wants ethics training requirement
In the wake of the 1MDB scandal, the Monetary Authority of Singapore is consulting with the industry to introduce an ethics module in the exam taken by representatives appointed by financial advisers and capital markets intermediaries.
Pioneer suspends two fund managers
Two top fixed income fund managers, including one who manages funds for sale in Asia, have been suspended by Pioneer Investments, industry sources have confirmed.
MAS bans star dealmaker, fines SCB, Coutts over 1MDB
The Monetary Authority of Singapore has slapped a ban on an ex-Goldman Sachs banker while Standard Chartered and Coutts have been hit with record fines for their roles in Malaysia’s 1MDB scandal.
Eight firms granted new RQFII, QFII quotas in November
Aberdeen, Eastpring and Thailand’s Kasikorn Asset Management are among the firms granted investment quotas in November.
