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Revision to the Condemnation Standard for Malicious Overdraft of Credit Card

The Supreme People’s Court and Supreme People’s Procuratorate released the Decisions on Revising the Several Issues concerning the Application of Laws in Handling Criminal Cases of Obstructing Credit Card Management (the “Decisions”), to make a systematic revision to malicious overdraft of credit card fraud crime, which aims to better protect the interests of the card holder and card-issuing bank.

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THE VARIABLE CAPITAL COMPANY (VCC) IN SINGAPORE

In further effort to augment the Fund Industry in Singapore, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) launched the Variable Capital Compan