A criminal case has been filed by the Enforcement Directorate (ED) to probe money-laundering charges in an alleged corruption case against Rolls Royce. The London-based automobile company is said to have made a payment of over INR 77 Crore (over USD 10 million)...
Standard Chartered Bank has been dogged by regulatory scrutiny in recent years. It has been fined billions of dollars since 2012 for compliance violations and has had trouble in showing the source of some of its clients’ wealth. According to sources, in some...
The Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) have launched the Variable Capital Companies (VCC) framework in Singapore. The Variable Capital Company Act is a new corporate structure that can be used for a wide...
The Securities and Futures Commission (SFC), the financial regulator of Hong Kong, has reprimanded and fined The Hongkong and Shanghai Banking Corporation Limited (HSBC) $2.1 million for non-compliance with the telephone recording requirements under the Code of...
Articles and Events Summary Payment Services Act 2019 The Payment Services Bill (PSB) is an Act to provide for the licensing and regulation of payment service providers, the oversight of payment systems, and connected matters. PSB was passed in Parliament on 14...
