2022 is set to be a turning point for US financial policy as the Biden Administration’s regulators ready a slew of regulations that are likely to increase the cost of compliance for Wall Street and corporate America. Biden’s top financial… Read More ›
On Wednesday, a group of banks, including Singapore’s DBS and UBS announced plans to create a new way of measuring the impact of environmental and social financing. The group, called Banking for Impact, also includes ABN Amro and Danske Bank;… Read More ›
According to a post in China’s securities website, U.S.-based asset manager AllianceBernstein’s Hong Kong unit has applied to set up a mutual fund in China. The website of China’s Securities Regulatory Commission shows that application documents from AllianceBernstein Hong Kong… Read More ›
According to a report from the Wall Street Journal which cites Chinese officials with knowledge of the matter at hand, Chinese President Xi Jinping had personally decided to pull the plug on Ant Group’s $37-billion initial public offering. The decision… Read More ›
On Friday, in a defense filing in Federal Court, Australia’s Westpac Banking Corp admitted that in a number of cases, it has failed to comply with anti-money laundering and counter terrorism laws. Westpac Banking Corp, Australia’s second largest bank admitted… Read More ›
Under the recent Phase 1 U.S.-China trade deal, China has agreed to expedite by nine months a previous December 2020 deadline for removing foreign ownership caps on securities firms, which includes investment banking, underwriting and brokerage operations. The Phase 1… Read More ›
On Tuesday, as per a statement from Australia’s corporate regulator, the life insurance arm of Commonwealth Bank of Australia has pleaded guilty to 87 counts of breaching a law banning sales staff from making unsolicited calls to sell financial products…. Read More ›
It is important to note that concessions made by China are largely insignificant and non-systemic. U.S. demands that it stops the forcible transfer of U.S. technology to Chinese firms, stop industrial espionage, stop non-compliance of U.S. intellectual property rights, have… Read More ›
With China opening up its financial sector, worth trillions of dollars, foreign financial institutions can finally tap the Chinese market. In a deal that will result in Morgan Stanley becoming the top shareholder of Morgan Stanley Huaxin Fund Management Co,… Read More ›
On Monday, the Commonwealth Bank of Australia named Alan Docherty as its chief financial officer following an unexpected exit of the previous CFO in May 2018. The development comes in the wake of the lender facing one of its worst… Read More ›
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