Published by The Business Times – 27th February 2017
The Monetary Authority of Singapore has formed a Corporate Governance Council to review the Code of Corporate Governance. It will be chaired by former chairman of the Singapore Exchange (SGX), Chew Choon Seng.
The CG Code was last reviewed in 2012, when changes were introduced to strengthen board independence and enhance remuneration practices and disclosures, said MAS in a statement issued on Monday.
Published by The Business Times – 6th February 2017
Bank of Singapore announced on Monday that it has entered into a first-of-its-kind strategic cooperation agreement with Swiss banking group, Bank Vontobel AG.
This arrangement will allow its Asian ultra-high and high net worth clients to open an account with Vontobel to place their assets in the Swiss wealth manager’s Zurich booking centre. Clients will have the option of choosing Vontobel or Bank of Singapore to manage their assets booked in Zurich.
Swiss bank Credit Suisse has announced it has reached a final settlement with the U.S. Department of Justice related to its legacy Residential Mortgage-Backed Securities business, paying a multi billion dollar fine.
The litigation over mortgage securities was one of the last large chunks of litigation hanging over Zurich-based Credit Suisse (CS) – a vestige of the years before the financial crisis of 2008-09, when the bank was a Wall Street powerhouse.