All posts tagged "fit and proper"
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1.4KEnforcementSFC Fines SEAVI Advent Ocean Private Equity HK$1mn
The SFC has reprimanded and fined SEAVI Advent Ocean Private Equity for allowing unlicensed individuals to perform regulated functions, in breach of the Code of Conduct.
October 7, 2019 -
353IndiaRBI Proposes to Directly Regulate Payment Gateways, Aggregators
The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.
September 19, 2019 -
436Fintech / RegtechRBI Issues Enabling Framework for Regulatory Sandbox
The RBI has set a minimum net worth criteria of $35,000 for sandbox participants, half the amount specified in April’s draft.
August 14, 2019 -
456EnforcementSFC Imposes Lifetime Ban on Former UBS Adviser
More than 10 years ago, the adviser accepted HK$1.4m in bribes from a client, paid at a rate of 20% of portfolio gains.
August 6, 2019 -
236India
RBI Tightens Criteria for Board Appointments at State Banks
The revised criteria for determining the 'fit and proper' status of proposed candidates include age, education, experience, and track record, among other criteria.
August 5, 2019 -
1.3KContributed ArticleMAS Clarifies Regulatory Expectations on IAC Guidelines
Grace Chong at Simmons & Simmons JWS recapitulates the key points from MAS’ feedback to the first consultation on the IAC Guidelines, and charts the course ahead.
July 1, 2019 -
549Australia & NZASIC Imposes Lifetime Ban on Former Westpac Adviser
The former adviser is said to have prioritised his own interests over those of his clients by providing inappropriate advice that maximised fees and commissions.
June 27, 2019 -
392Australia & NZNew Zealand to Introduce Licensing Regime for Financial Advisers
The new regime will require all New Zealand financial advisers to be licensed by the FMA, effective from June 2020.
June 24, 2019 -
1.3KContributed Article
Practical Steps for Compliance with MAS’ IAC Guidelines
Grace Chong at global law firm Simmons & Simmons analyses the implications of MAS' Individual Accountability and Conduct Guidelines, and sets out the practical steps to be taken.
June 14, 2019 -
556AML / KYCMAS Consults on Proposed Framework for Variable Capital Companies
The proposals include an AML/CFT framework for VCCs requiring them to engage an eligible financial institution to perform the necessary checks.
May 2, 2019
