The proposal to enhance fee disclosures should not have a big impact on banks and fund houses, but may impact the small intermediaries, according to industry players.
Category: Regulation
Disclosure issue prompts exit of StanChart’s regional CEO
Ajay Kanwal has resigned from his role as regional CEO for Asean and South Asia at Standard Chartered, with immediate effect.
`Masterminds’ of Singapore’s massive stock fraud charged
In the largest market manipulation case in Singapore’s history, regulators have charged John Soh and Quah Su-Ling for orchestrating a stock trading fraud on the Singapore exchange.
HK and Singapore in push for fee transparency
Following Singapore, Hong Kong’s Securities and Futures Commission has proposed that fund distributors cannot call themselves independent if they are receiving commission from distributing funds, and they need to state the fee amount at the point of sale.
SFC fines ex-fund house employee
For failing to declare commission and an improper know-your-customer process, the Securities and Futures Commission has banned Benedict Ku Ka-tat for one year and fined him HK$150,000 ($19,340).
CSRC acts on illegal Stock Connect trades
The China Securities Regulatory Commission has made its first crackdown on an illegal transaction via the Shanghai-Hong Kong Stock Connect.
Modi’s daring reform move gets little notice
Overshadowed by the US presidential election last week was a “bold and historic” move by the Indian government to ban 500 and 1000 rupee currency notes, which is expected to be “transformational” for the economy in the medium term, asset managers said.
Ex-offenders in Singapore can work in financial services
The Monetary Authority of Singapore (MAS) has no rules against hiring ex-offenders for positions in the financial services sector, deputy prime minister Tharman Shanmugaratnam has confirmed.
Singapore and Hong Kong race for fintech edge
Regulators are moving at uncharacteristic speed, signing cross-border fintech agreements, creating `sandboxes’ and talking up the advantages of their home markets as fintech innovation hubs.
HK bans former UOB rep for 10 years
The Securities and Futures Commission has banned Lawrence Lai from re-entering the markets for 10 years after misconduct in trading led to a HK$50m ($6.45m) loss in 2011.
