The Monetary Authority of Singapore (MAS) has imposed multi-million dollar fines on the Singapore branches of Standard Chartered bank and Coutts & Co for breaching anti-money laundering regulations in relation to 1MDB-related fund flows through these banks, MAS said in a release on Friday (Dec 2). StanChart was fined S$5.2 million and Coutts was fined […]

The venerable Coutts bank, home of the Queen’s personal accounts, has been drawn into the mounting controversy about private banking with an admission that its Swiss arm is under investigation for aiding and abetting tax evasion. Royal Bank of Scotland, which owns the 300-year-old Coutts, admitted on Thursday that German prosecutors are investigating current and […]

The Financial Conduct Authority (FCA) has come under fire from an adviser who believes it is failing in its duty to “expose wrong-doing and enforce ‘best practice’”. SG Wealth Management director Neil Shillito voiced his frustration at the regulator’s failure to respond publicly to Thursday’s news that private bank Coutts is reviewing its clients’ investment […]