Regulators – Page 12 – Huddleston Jones

16 September 2016

Indonesians declare S$12.2b of Singapore assets under tax amnesty

Published by CNA – 16th September 2016

SINGAPORE: Indonesians have declared 117.3 trillion rupiah (S$12.2 billion) of assets held in Singapore, Indonesia’s Finance Ministry said on Friday (Sep 16) according to Bloomberg.

However only a small proportion – 14.1 trillion rupiah, or about 12 per cent – has been repatriated.

5 September 2016

Indonesian Tax Amnesty Gets Serious Backing

Published by Finews Asia – Monday 5th September 2016

When it was first launched it was met with doubts that it would be taken seriously. However high profile businessman Sofjan Wanandi along with well known property tycoon James Riady requested tax amnesty recently for their undeclared assets, the «Jakarta Post» reports.

The participation of what the government hopes to be the first wave of significant business figures participating in what has become known as President Joko Widodo’s signature policy, is sure to put peer pressure on those of similar wealth and social status.

22 August 2016

Indonesia’s tax amnesty programme below target in first month

Published by Channel News Asia – 22nd August 2016

Indonesia’s tax amnesty programme recorded around US$3.2 billion of declared assets during its first month of implementation, which was below its target of US$302 billion.

“These are still very small compared with our set targets,” said Finance Minister Sri Mulyani Indrawati in a press conference on Monday (Aug 22).

12 August 2016

Number of Licensed Banks in Hong Kong Rises

Published by Finews Asia – Tuesday 16th August 2016

The Hong Kong Monetary Authority has granted a banking license to a daughter of the 5th-largest banking group in France.

The Hong Kong Monetary Authority(HKMA) has granted a banking license to Crédit Industriel et Commercial (CIC) under the Banking Ordinance. The granting of this banking license has taken effect on August 12, according to a statement.

17 March 2015

Hong Kong regulator bans former Standard Chartered RM for life

Published by Hubbis – 17th March 2015

Hong Kong’s Securities and Futures Commission (SFC) has banned Wong Chun Yin, a former relationship manager of Standard Chartered Bank, from re-entering the industry for life.

The watchdog found that, between October 2011 and May 2012, Wong effected fund transactions in clients’ accounts without their authorisation to meet his sales targets and tried to conceal his misconduct by tampering with one client’s contact information.