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).
Tag: Singapore
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.
Best and worst equities sector funds
Funds focused on India, Japan and North America were among the best-performing products in Hong Kong and Singapore in 2016, while Europe and Latin America were at the bottom.
Singaporean HNWIs hold more cash than HK counterparts
High-net-worth individuals in Singapore hold more amounts of cash and deposits compared to their Hong Kong counterparts, according to Ivan Han, a Singapore-based senior analyst at Cerulli Associates.
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.
Study: Singapore, HK lead with women fund managers
Singapore and Hong Kong are among the countries that have the highest percentage of women fund managers internationally, according to a Morningstar study.
Asia’s wealth business `rationalisation’ to continue
The BOS purchase of Barclays’ assets has completed, but it is only one of several wealth management acquisitions in Asia as the trend toward scale continues, according to Mark Wightman, EY’s Singapore-based partner for wealth and management advisory.
`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.
Bank of Singapore to open PB services in Dubai
The bank intends to offer services including wealth planning advisory to its HNWI and UHNW clients in the Middle East.
