Bank

Another fraud by EFG bank

(Strict actions are needed against it) In this article, we are going to talk about one of the famous banks of Europe which has deep roots all around Europe. It is considered as the most vastly spread banking network on an international level, as it has forty branches across the world. Around 3000 employees are...

MAS slaps life ban on former BSI Bank wealth manager

The MAS bans against Yeo Jiawei (left) and Mr Kevin Scully prohibit their involvement with financial advisory firms in Singapore. PUBLISHED DEC 20, 2017, 5:00 AM SGT Yeo Jiawei was key figure in S'pore's 1MDB probe; NRA Capital founder gets 3-year ban Rachel Mui The Monetary Authority of Singapore (MAS) has issued a lifetime ban against former BSI Bank...

MAS Encourages Adoption of New Benchmark

FINANCE Thursday, 6 August 2020 17:23 Singapore Likely to Replace Benchmark Interest Rate The regulator has announced several initiatives to support the adoption of the Singapore Overnight Rate Average (SORA) as a floating rate benchmark. The Monetary Authority of Singapore (MAS) on Wednesday said it will issue SORA-based floating rate notes (MAS FRN) on a monthly basis, starting from...

OCBC Partners Asset Manager for New Fund

FINANCE Thursday, 13 August 2020 17:50 The co-branded solution to address investor needs during times of stress and uncertainty, and has a built-in a dollar-cost averaging feature. French asset manager Amundi and OCBC Bank on Wednesday announced the launch of the Amundi-OCBC Momentum Fund – a mixed-asset product that invests in global bonds and equity ETFs. According to its prospectus, the Momentum...

Foreign Banks Lose Over $1 Billion of Police-Linked Assets

FINANCE Thursday, 13 August 2020 16:19 Even Chinese Banks Comply With U.S. Sanctions S. Releases First List of Hong Kong's Unbankable Hong Kong’s police credit union will shift over $1 billion in assets to mainland banks over concerns about U.S. measures against the city’s administration. The 45,000-strong credit union will move an estimated HK$11 billion...

ABN Amro Overhauls Corporate Bank

FINANCE Thursday, 13 August 2020 12:56 Following a review by its new CEO, the bank will wind down all of its non-European corporate banking operations and stop providing trade and commodity finance. «We will serve clients in segments where we can achieve scale, so we will focus on the Netherlands and Northwest Europe, where we will invest...

Financial Services Sector Resilient Amid Uncertainty

FINANCE Wednesday, 12 August 2020 17:40 Singapore Economy Experiences Worst Quarter on Record This year, financial services sector growth has held up thus far, with retrenchment levels subdued, according to the Monetary Authority of Singapore. While Singapore's economy took a hit in the first half of the year due to the Covid-19 pandemic and global uncertainty, the financial services sector...

SFC fines EFG Bank for dealing futures without license

LATEST NEWS By Kate Lin, 12 Jan 18 The Hong Kong operation of EFG Bank, a subsidiary of Swiss private bank EFG International, was fined HK$2m ($260,000) for dealing in futures contracts for 13 years without a required license. The Securities and Futures Commission (SFC) has found that EFG Bank executed non-compliance trading of offshore-listed index options for...