Legal

Latest News for Legal

• August 26, 2010 - Citigold Banker Allegedly Duped Rich Clients In Manila
  

  A private banking officer at Citibank's Binondo, Manila branch has allegedly run off with hundreds of millions of clients' money, a report by ABS-CBN News reveals.   Francis Bryan Ang is the former assistant vice president of the Citigold Wealth Management unit, which handles deposit accounts for high net worth clients with at least Php4 million ($89,000).

• August 18, 2010 - NY Law Firm Sets Up Asian Practice To Guard Disputes On Foreign Banks
  

  New York law firm Kobre & Kim has appointed William McGovern to head a new Hong Kong office that focuses on Asian clients with disputes against US regulators or international banks. McGovern was previously the executive director of the transaction management group at Morgan Stanley.

• August 3, 2010 - Wealthy Australian Businessman Sues UBS Over Investment Losses
  

  A prominent Australian businessman is suing UBS Wealth Management over multi-billion dollar losses sustained during the financial turmoil, according to media reports. The action is being taken against UBS Wealth Management Australia by Stefan Ackerie, of Queensland, according to a statement lodged in the Supreme Court in Brisbane, reports said.

• August 1, 2010 - Malaysian Regulator Revokes SJAM's License
  

  The Securities Commission Malaysia has revoked the license of SJ Asset Management after being found guilty of breaching regulatory guidelines. SJAM had been found to have engaged in "deceitful and improper business practices" and had produced false and misleading information and documents to the regulator.

• July 25, 2010 - Businessman Files Lawsuit Against ABN Amro Singapore
  

  ABN Amro Bank in Singapore is being sued by a Bangladeshi businessman for allegedly misrepresenting the safety of his investments which subsequently led to losses, Bloomberg reports. Anis Ahmed, the owner of Langeford Capital, rep.

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Latest Features for Legal

• January 17, 2006 - Analysing The New Singapore Trust Regime
  

  Many readers will be aware of the proposed reforms to the Singapore Trust Companies Regime. It has now been confirmed that these reforms will take effect from 1 February 2006, when the Trust Companies Act comes into force. With the steady expansion of the trust industry along with robust growth in the private banking and wealth management industries in Singapore over the recent years, this much-anticipated announcement is welcome.

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