HSBC, UBS settle US rate-rigging litigation; total payout tops S$560 million

Published by The Straits Times – 12th July 2017

NEW YORK (REUTERS) – HSBC Holdings Plc and UBS Group AG have each agreed to pay US$14 million (S$19 million) to settle private US litigation accusing them of rigging an interest rate benchmark used in the US$483 trillion derivatives market.

Published by The Jakarta Post – 11th July 2017

The government is to hunt down tax money from Indonesians who park their money in Singapore, following an offer from Singapore to allow Indonesia to access the financial data of Indonesians in the neighboring country.

Published by Wealth Briefing Asia – 30th June 2017

In a speech this week the head of the MAS has spelled out why his organisation took the action it deed to expel banks and punish individuals over the Malaysia-linked illicit money scandal.

Published by Finews Asia – 27th June 2017

Singapore’s financial regulator has closed the door on a two-year investigation over 1MDB. But Swiss banks – and bankers – are by no means off the hook. finews.com looks at who is sweating more than usual this summer.

Published by Finews Asia – 23rd June 2017

The first Swiss banker to be jailed over 1MDB has been released and returned to Switzerland, finews.asia can exclusively reveal.

Published by Finews Asia – 22nd June 2017

Edmond de Rothschild, one of several Swiss banks caught up in the 1MDB graft scandal, has been brought to book.

Published by Wealth Briefing Asia – 30th May 2017

UOB and Credit Suisse have been fined by the MAS for breaches of controls related to transactions around Malaysia’s 1MDB.

Published by Finews.asia – 24th April 2017 

Private lender OCBC NISP Bank, the local Indonesian unit of Singapore’s second largest lender, plans to launch a private banking service in May.

The news comes after the bank received approval and a license to do so from the Indonesia Financial Services Authority (OJK).

Published by Finews.asia – 21st April 2017 

Dutch authorities have given hundreds of Credit Suisse clients an ultimatum, in a six-country investigation into alleged tax evasion using hidden Swiss accounts.

Published by Hubbis – 5th April 2017

The Indonesian government has pledged to continue to target taxpayers who failed to repatriate their foreign wealth during the country’s tax amnesty programme.