The ruling could limit the ability of financial services firms to market and cross-sell investment products using the 'general advice' allowance under the law.
ASIC granted a licence variation requested by IOOF’s investment services unit, but has decided to also impose additional licence conditions.
The FSS will conclude its investigation into KEB Hana and Woori Bank this week. KEB Hana and its CEO are expected to face higher penalties for 'obstructing' the investigation.
SEBI and the US SEC are probing Infosys after whistleblowers alleged costs were under-reported to inflate profits and "critical information" was hidden from auditors and the board.
Two operators of an SME conspired to defraud DBS Bank, HSBC, ICBC, Dah Sing Bank, Wing Hang Bank, the Trade and Industry Department, and the Hong Kong Mortgage Corporation.
ACCC chairman Rod Sims reportedly told a parliamentary hearing that bundling products such as credit cards and insurance would form part of the agency’s inquiry.
The three individuals are said to have provided a total of about S$1,500 to individuals in Indonesia for the purpose of facilitating terrorist acts after being ‘radicalised’ last year.
UBS may have charged some wealth management clients booked in Hong Kong and Singapore ‘inappropriate spreads’ on debt securities transactions between 2008 and 2015.
FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.
The current and former Shanghai chiefs of Ping An Bank and the Suzhou branch head of China Guangfa Bank are assisting in an anti-graft probe linked to former CSRC chairman Liu Shiyu.