merrill lynch fined hk3 5m for regulatory failings
Global banking giant Merrill Lynch has been fined HK$3.5m ($450,000, £290,000) by the Hong Kong financial regulator over a fraud committed by one of its former employees.
Asia
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insurance agents convicted by hong kong court
Two insurance agents have been convicted by a senior court in Hong Kong of selling investment funds without a licence.
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rbc im fined hk4m over sale of unauthorized funds
A HK$4m ($520,000, 420,000) fine has been imposed on RBC Investment Management by the Securities and Futures Commission in Hong Kong in relation to investment advice provided by the firm on non-SFC authorized funds.
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adveq opens hong kong office
Zurich-founded asset manager Adveq has opened an office in Hong Kong, its third in the Asia region.
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aviva asia to acquire majority stake
Aviva Asia is to acquire around 81% of the holding company which owns Professional Investment Advisory Services Pty (PIAS), one of the largest financial advisory firms in Asia.
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cazenove capital management plans
Cazenove Capital Management is planning to open an office in Hong Kong by the end of this year, pending approval from local regulators.
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sfc bans wealth manager for three years
Hong Kongs financial watchdog, the Securities Futures Commission, has banned wealth manager Esther Lee Ying Chih from re-entering the industry for three years.
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allianz worldwide care brings out intl health
Allianz Worldwide Care, the Dublin-based international health insurance provider, has unveiled a package of corporate healthcare plans for the Chinese market.
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new regulatory regime for singapore
Singapores City watchdog is due to implement an enhanced regulatory regime for fund management companies tomorrow, which will include increased capital requirements and stricter business conduct rules.
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uhy adds new asian firm to network
Global accountancy network UHY has added a Bangkok-based firm to its membership.
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stan chartd details asia plans
Standard Chartered, the London-based, Asia-focused banking group, said its first half pre-tax profit grew by 9%, as it detailed plans for its continued expansion in China and India.
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landg im plans first asia office
Legal & General Investment Management is reportedly in the final stages of opening an office in Hong Kong, its first in Asia.