An update to Vietnam’s currency laws, effective February 10, invalidates contracts not denominated in Vietnamese dong, calling into doubt a common hedging practice.
The OECD issues a country-by-country action plan on transfer pricing; China relaxes FX control to support corporate offshore debt servicing; and the State Bank of Vietnam has banned foreign currency transactions.
Twelve new free trade zones planned in China; China affiliates of largest accounting firms barred from auditing US companies; New AML laws require blocking assets related to Ministry of Public Security terrorist list.
SWIFT has created a global know-your-customer (KYC) compliance registry geared to centralise financial data for regulatory purposes that will go live this year. Transaction bankers, however, have offered caution over ...
The Singapore Inland Revenue Authority (IRAS) has provided guidelines on how to tax the use of bitcoin; Myanmar's central bank will allow foreign banks in the country; Alipay enlists Taiwan banks.
The Indian competition regulator is handing out millions in fines for anti-competitive practices; CT spoke to the countries’ compliance experts about how to avoid them.