The Chinese government’s warning on financial risk this week has put pressure on the country’s equity and bonds markets.
The Hong Kong branch of Coutts has been fined by the Hong Kong Monetary Authority (HKMA) for failing in its anti-money laundering (AML) and counter terrorist financing (CTF) checks.
Three British nationals allegedly involved in a boiler room scam were arrested in the Philippines on Monday.
An early response suggests adoption by asset managers will depend on how the new corporate structure is taxed.
Hong Kong’s Securities and Futures Commission (SFC) has obtained an interim court order to freeze bank accounts connected with a suspected $15m US Ponzi scheme that invested in Brazilian and African gold mines.
Thailand’s Securities and Exchange Commission (SEC) has issued a regulation allowing asset managers to set-up hedge fund-like products for domestic institutional and high-net-worth investors.
Former Goldman Sachs director Tim Leissner has been banned from working in Singapore’s financial services industry for 10 years for his involvement with stricken Malaysian sovereign wealth fund 1MDB, with further prohibition orders expected.
Hong Kong’s Securities and Futures Commission will now require fund managers to disclose the ongoing charges figure (OCF) on their funds’ key facts statements (KFS), according to a circular from the regulator.
Guo Shuqing, the newly-appointed chairman of the China Banking Regulatory Commission (CBRC), has vowed to close cross-market financial product loopholes and tighten oversight of the nearly CNY30trn ($4.4trn) held in Chinese banks' wealth management products.