The tax concession will be applicable to any years of assessment commencing on or after 1 April 2022.
May 11, 2023UBS is expected to record up to $57bn in profits in Q2 as a result of the deal, the largest ever banking profit recorded.
April 28, 2023HKMA deputy chief Darryl Chan said there is scope to expand the Wealth Management Connect scheme and use CDI data for cross-border finance.
April 26, 2023Trust companies have three years to adapt to the new rules, but plans for how they will do so need to be submitted to the CBIRC within 30 days.
March 28, 2023The PBOC fined China Bohai Bank for committing 12 regulatory violations. The bank was fined twice last month for different violations.
March 17, 2023The weaknesses related to a “failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements”.
March 15, 2023Credit Suisse has received investment consultancy and proprietary trading licences, and an expansion of its brokerage licence.
March 10, 2023Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.
March 6, 2023A Convoy Asset Management consultant was banned for life for his role in a stock manipulation scheme and for lying to the SFC.
March 5, 2023US Treasury says sanctioned actors use smaller banks and wealth management firms to evade sanctions. FATF has suspended Russia's membership.
February 27, 2023