Monday , February 19 2018

Banking

OCBC cites compliance burden as reason to grow private bank

  Bloomberg Oversea-Chinese Banking Corp.’s Chief Executive Officer Samuel Tsien said surging compliance costs are one factor spurring him to expand his Asian wealth-management business, at a time when some overseas competitors are retreating. That’s because the rapidly expanding costs of complying with anti-money laundering, tax-compliance and other regulatory requirements ...

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