The Monetary Authority of Singapore (Mas) has fined Credit Suisse and United Overseas Bank (UOB) and issued prohibition orders against three people following a two-year investigation into scandal-plagued wealth fund 1Malaysia Development Berhad.
Malaysia’s sharia-compliant mutual funds have seen assets under management decline from the peak of 40.7% in March 2016 to 39.4% in March 2017, according to data from Morningstar.
Malaysia’s life insurance industry, traditionally dominated by agency business, is set to see “rapid changes” once the country brings wide-ranging regulatory measures, according to Philip Smith, chief executive of Zurich Malaysia Bhd.
RL360° has launched Quantum Malaysia, a country-specific version of the insurer’s regular premium savings plan and its first product in Malaysia.
RL360° has opened a new branch office in Kuala Lumpur, Malaysia, after it was granted a license by the Labuan Financial Services Authority (LFSA).
Malaysia’s Labuan International Business and Financial Centre (IBFC) is looking to tap into the US expat market by helping businesses in the financial centre comply with the US’s Foreign Account Tax Compliance Act (Fatca).
A former BSI Bank wealth planner went on trial in Singapore on Monday for attempting to pervert the course of justice as part of the investigations into the 1Malaysia Development Bhd (1MDB) money laundering scandal.
Farringdon Asset Management, part of the Malaysia-based Farringdon Group, has received a licence to operate in Singapore where it will focus on focus on providing expat clients with discretionary portfolio management services.
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).
German insurer Allianz has signed a 10-year distribution deal with Malaysia’s Maybank to sell its life products from its retail branches in Indonesia.
Malaysia’s Islamic insurers are considering a move into Europe by targeting the continent’s growing Muslim population, an expert in Islamic finance has said.
Malaysia’s Securities Commission (SC) is shortening the time it takes to get non-complex retail unit trusts to market.
