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Legal,Tax & Compliance

Freshfields sends heavyweight litigators to Asia in practice push
02/22/2012
The pair will be joined by Washington DC senior associate John Warren, who is set to move to Hong Kong imminently. He focuses on while collar crime and investigations.
Indian court upholds 'fly-in fly-out' practice for foreign firms
02/22/2012
The hearing in the case against 31 foreign law firms and an LPO (AK Balaji v The Government of India, Ashurst LLP, White & Case et al) ended on 1 February. The Madras High Court handed down its order today (21 February).
Bank Indonesia rotates, promotes directors
02/22/2012
Bank Indonesia spokesman Difi Johansyah said late on Monday that it was just a routine restructuring.
Asian finance firms face a hefty Fatca compliance burden
02/21/2012
The regulations for the US Foreign Account Tax Compliance Act were announced earlier this month, and Asian financial institutions can no longer play wait-and-see, according to PwC.
Private-client specialist Withers announces Singapore plan ‎
02/20/2012
Withers is opening a second office in Asia to meet the urgent demand from institutions and individuals alike for tax and trust legal advice, currently under-served in South East Asia.
LG and Withers target high net clients with Singapore launches
02/20/2012
LG’s Singapore launch, which will go live in the coming months through an alliance with local outfit PK Wong and Associates, marks the City law firm’s first base in Asia.
Akin Gump launches in Hong Kong with Shearman, Norton Rose hires
02/20/2012
The new office is Akin Gump’s second in Asia, following its Beijing opening in 2007.
Swissrisk Financial Systems - ready for FATCA
02/20/2012
In order to assist financial institutions to comply with this new legislation, Swissrisk Financial Systems, a Dion Global Solutions company, has developed ‘FATCA Gateway’
World’s largest offshore law firm to expand into Mainland China
02/20/2012
The new office, due to open on 2nd April 2012, will deliver fully integrated fiduciary and administration services and operate in tandem with the firm’s Hong Kong office, which has serviced Appleby’s local and international clients in Asia for
Clifford Chance confirms plans for South Korea launch
02/17/2012
The application is the start of a formal process that will involve a second application stage before a base on the ground can go live, but a 2012 launch is understood to be likely.
Squire Sanders launches in Singapore with Bryan Cave hires
02/17/2012
Ignatius Hwang, previously managing partner of Bryan Cave’s Singapore office, has been tasked with spearheading the launch of Squire Sanders’ Singapore office.
Singapore to tighten safeguards against money laundering
02/17/2012
FATF is an inter-governmental body which sets international standards for mechanisms to prevent corrupt financial practices.
Bank Indonesia may sanction UOB over alleged abuse of client
02/16/2012
Speaking at a hearing at the House of Representatives on Tuesday, Bank Indonesia (BI) deputy governor Halim Alamsyah said UOB could have its permits revoked should the bank be found guilty in court of illegal conduct.
Mourant Ozannes appoints Living for Asian growth
02/15/2012
Mourant Ozannes is a leading offshore law firm, which recently opened an office in Hong Kong in order to provide clients and intermediaries with access to the firm’s offshore legal services in an Asian time zone.
Ex-Citigroup Executive Denies Wrongdoing in Tibor-Fixing Probe
02/15/2012
The agency said Director A and another Citigroup trader engaged in “seriously unjust and malicious” conduct by asking bankers to alter data they submitted while setting a benchmark Japanese lending rate.
China grants 7 investment licences to foreign institutions in January
02/14/2012
The China Securities Regulatory Commission (CSRC) granted the licences to investors including South Korea's National Pension Service and Shinhan BNP Paribas Asset Management Co Ltd, as well as Taiwan's Mercuries Life Insurance Co Ltd and Hong
ICAI slaps notices on PwC India
02/14/2012
"We have sent a communication to them, asking them to tell us about the source of the sundry income and how it has been dealt with. We are yet to get a response from them," Shah said.
Freshfields to reopen in Singapore five years after 2007 exit
02/13/2012
The magic circle firm is planning to open the new arm this autumn, with the move expected to be discussed at a meeting of the firm’s partnership council this week.
KPMG survey: 70% of financial services cos not updating KYC
02/13/2012
Regulations require data to be updated once in two years for every high- and medium-risk customer and once in five years for low-risk customers.
Four overseas banks to be taxed on offshore gains
02/10/2012
Citi Bank, Standard Chartered Bank, Deutsche Bank and HSBC are to make additional payment on their capital gains from investing in offshore funds called Sicav in Luxembourg, tax authorities said.
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