A former BSI Bank wealth planner went on trial in Singapore on Monday for attempting to pervert the course of justice as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
Category: Regulation
More transparency rules for HNWIs
The Common Reporting System — a partnership among various countries’ regulators — will make it more difficult for Asian HNWIs to keep undisclosed money offshore, said Richard Corrigan, interim director of financial services for the Government of Jersey.
HK bans short-seller for five years
The Hong Kong Market Misconduct Tribunal ruled that Andrew Left, the founder of Los Angeles-based short-seller Citron Research, has to repay HK$1.6m ($206,250) of net profits from short-selling China Evergrande Group in 2012.
Farringdon gets asset management licence for Singapore
Farringdon Asset Management, part of the Malaysia-based Farringdon Group, has received a licence to operate in Singapore where it will focus on focus on providing expat clients with discretionary portfolio management services.
Asia-Pac, EU regulators meet behind closed doors in SG
Representatives from Europe and Asia Pacific’s regulatory bodies met in Singapore on Friday to hold “in depth, closed-door” discussions on financial regulation and collaboration.
MAS shuts down Falcon Private Bank’s Singapore operations
The regulator slams the Zurich-based bank for poor anti-money laundering controls and improper conduct by individuals over 1MDB.
Two ex-BSI bankers in Singapore charged in 1MDB probe
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).
Life-ban for former HSBC relationship manager
Hong Kong’s SFC disqualifies Chen Chia-hui from the financial services industry following her bribery conviction.
The world will ban commission within five years, says JPMAM
Regulation is moving at such a fast pace that within five years all financial services markets around the world will ban commission and implement an RDR-like regime, Jasper Berens, head of UK funds at JPM Asset Management has predicted.
Regulator slaps HSBC with HK$2.5m fine
Hong Kong’s Securities and Futures Commission has publicly scolded and fined HSBC for regulatory breaches and internal control failings.
