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Wednesday, 20 March 2019

SFC bans UBS from sponsoring IPOs

SFC bans UBS from sponsoring IPOs

IFR Asia 1081 - March 16, 2019

Hong Kong’s securities regulator has suspended UBS from sponsoring IPOs for one year and fined it and three other banks a total of HK$786.7m (US$100m), in an unprecedented step by the city’s chief watchdog to clamp down on sub-standard sponsorship work.

Fed bans Goldman bankers for role in 1MDB

Fed bans Goldman bankers for role in 1MDB

IFR Asia 1081 - March 16, 2019

The US Federal Reserve banned former Goldman Sachs bankers Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from any involvement in the banking industry for their role in the theft of billions of dollars from the Malaysian sovereign wealth fund.

Nomura close to China JV launch

IFR Asia 1081 - March 16, 2019

Nomura is on the cusp of becoming the first foreign bank to launch a start-up securities joint venture in China under recent rules that allow foreign banks to hold majority stakes.

RBI move brings down hedging costs

IFR Asia 1081 - March 16, 2019

The Reserve Bank of India will conduct a US$5bn long-term forex swap this month, adding a liquidity tool in a bid to bring down hedging costs and bolster foreign inflows.