Singapore
Jailed 1MDB banker sentenced to four more years for cheating
A Singapore court has found former BSI Singapore banker Yeo Jiawei guilty of further charges of money laundering and cheating in relation to billions of dollars allegedly misappropriated from the 1Malaysia Development Berhad (1MDB) state fund.
Sony Life to set up shop in Singapore’s insurance market
Japan’s Sony Life Insurance has announced it plans to open dozens of locations in Singapore’s malls where it will offer clients policies from multiple insurers.
Singapore watchdog restores ‘mystery shoppers’ for advisers
The Monetary Authority of Singapore (MAS) will be sending mystery shoppers to financial advisers as part of its efforts to boost enforcement, according to Merlyn Ee, the regulator’s executive director for capital markets intermediaries.
Singapore’s asset management industry up 7% in 2016
Singapore’s asset management industry saw healthy growth of 7% last year, with managed assets hitting S$2.7trn ($1.96trn, $2.5trn, €2.23trn), according to new figures from the Monetary Authority of Singapore (MAS)
UAE ambassador to America linked to Malaysian 1MDB scandal
The UAE ambassador to the US has been caught up in the international scandal involving Malaysian sovereign wealth fund 1MDB, after reports that companies connected to him received millions of dollars allegedly stolen from the fund.