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  • July 24, 2014
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  1. Business - Money

    Government stands by best interest clause in proposed insurance law

    Posted Jul 21st 2014, 03:18am by Enoch Yiu

    ... lead customers to launch lawsuits and claims against intermediaries," he said. Tam suggested that the best interest provision not be included in the law itself, but added to the code ... not have a problem with it," Cheung said. "The Insurance Authority, after it is set up by the bill passed by lawmakers, will issue guidelines on the conduct requirements." The Law ...

    http://www.scmp.com/business/money/markets-investing/article/1556927/government-stands-best-interest-clause-proposed
  2. Business - Banking & Finance - FOREIGN EXCHANGE

    How do rich Chinese elude foreign exchange laws to move their money abroad? Take your pick of ways

    Posted Jul 10th 2014, 11:55pm by Keira Lu Huang

    ... money Chinese law limits individual citizens to the equivalent of US$50,000 per year in foreign exchange, meaning that anyone who wants to spend more than that overseas must look for alternative ... laws, the following seven methods are used to transfer money overseas. Family and friends Split the transfer among as many identities as possible. With 20 people, it's easy to transfer US$1 ...

    http://www.scmp.com/business/banking-finance/article/1551510/how-elude-chinese-foreign-exchange-laws-take-your-pick-ways
  3. Business - Banking & Finance - FINANCE

    Beijing to back United States over new Fatca law against tax evasion

    Posted Jun 27th 2014, 11:50pm by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Central government co-operates with Fatca law, easing blacklist threat to Chinese institutions and boosting its own battle against corruption Beijing to back U.S. over tax evasion Mainland China has been included on a list of jurisdictions co-operating with the United States on a new law to halt tax evasion. It removes the threat ...

    http://www.scmp.com/business/banking-finance/article/1542111/beijing-back-united-states-over-new-fatca-law-against-tax
  4. Business - Comment - JAKE'S VIEW

    Social responsibility should begin and end with the law

    Posted Jun 19th 2014, 12:51am by Jake Van Der Kamp

    ... and end with the law Corporate social responsibility (CSR)- a management concept whereby companies integrate social and environmental concerns into their operations and interactions ... an obligation beyond any imposed on them by law to promote social harmony and equality and to pioneer environmental protection practices. If it is required of them by law then they have a legal ...

    http://www.scmp.com/business/article/1535837/social-responsibility-should-begin-and-end-law
  5. Business - China Business - WHITE COLLAR

    State secrets law hurts credibility of mainland firms

    Posted Jun 16th 2014, 11:55am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com More transparency is needed to boost investor confidence in mainland-listed firms State secrets law still poses challenges for auditing firms Last week, ... about national security is treated as a state secret, China includes in its Protection of State Secrets Law a wide range of information that, if leaked, would supposedly hurt the national ...

    http://www.scmp.com/business/china-business/article/1533860/state-secrets-law-hurts-credibility-mainland-firms
  6. Business - Comment - LAI SEE

    Is Hong Kong's rule of law becoming a victim of political expediency?

    Posted Jun 04th 2014, 05:08am by Howard Winn

    ... to the rule of law. This is an important issue for Hong Kong as the rule of law is touted as one of its competitive advantages over the mainland. It would be a shame if Hong Kong's rule of law ...

    http://www.scmp.com/business/article/1524839/hong-kongs-rule-law-becoming-victim-political-expediency
  7. Business - Companies - REGULATION

    Money laundering law could extend to non-financial firms

    Posted May 28th 2014, 11:10am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Client due diligence needs likely to be extended to non-financial sector, including accounting and law firms, in anti-money-laundering push Reach of dirty-cash law tipped to broaden The Hong Kong government is expected to extend the law against money laundering- now applicable only to the financial sector- to lawyers, accountants, property ...

    http://www.scmp.com/business/companies/article/1520235/money-laundering-law-could-extend-non-financial-firms
  8. Business - Money - MARKETS

    Thailand stocks fall, baht drops amid martial law

    Posted May 21st 2014, 01:11am by BLOOM

    ... Bloomberg Martial law triggers the SET to suffer its biggest drop in nearly two weeks but some analysts say the army's move may bring about stability Thai stocks, baht fall amid chaos Thailand's benchmark saw its biggest drop in nearly two weeks and the baht declined as the army imposed martial law nationwide amid political turmoil. The key SET Index fell 1.1 per cent in Bangkok ...

    http://www.scmp.com/business/money/markets-investing/article/1516812/thailand-stocks-fall-baht-drops-amid-martial-law
  9. Business - China Business - REGULATION

    Foreign carmakers face Beijing's probe on spares

    Posted Jul 19th 2014, 01:58am by BLOOM

    ... practices. Qualcomm, the world's largest chipmaker for smartphones, said in November that the NDRC began a probe related to an anti-monopoly law. Last December, state broadcaster China Central ... It cited the brands' monopolistic hold as the reason for the "unfair" prices. Jaguar Land Rover said at the time that it abides by China's laws and determines pricing based ...

    http://www.scmp.com/business/china-business/article/1556592/foreign-carmakers-face-beijings-probe-spares
  10. Business - Comment - LAI SEE

    What's the point of yet another report on biodiesel?

    Posted Jul 22nd 2014, 12:08am by Howard Winn

    ... information the government will come up with.   US law rules There's been some chortling over Sany Group's partial legal victory against the US government over its controversial wind farm ... ruling in their favour, the chances of getting a favourable judgment executed are remote. We wish the Sany guys all the best and hope they enjoy luxuriating in the rule of law provided by the US. ...

    http://www.scmp.com/business/article/1557108/whats-point-yet-another-report-biodiesel

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