Managers of Wealth Asia Pacific

APRA releases new frequently asked questions on the Superannuation Data Transformation project

The FAQs are available on the APRA website

Statewide Superannuation to pay $4 million penalty for misleading correspondence to members

The Court also found that, in making these representations, Statewide breached its obligations as an Australian financial services licence holder to act efficiently, honestly and fairly and to comply with financial services laws.

BGC Partners pays $110,250 infringement notice

The Markets Disciplinary Panel noted that there had been previous compliance failures of this type by BGC Partners.

Harneys Hong Kong recognised as “an established and trusted law firm” in Legal 500 rankings

Harneys Hong Kong is a full-service offshore law firm offering award-winning litigation, restructuring, corporate, finance and funds advice in English, Mandarin, and Cantonese.

Harneys Singapore commended as “progressive, reliable and responsive” in Legal 500 rankings

Our teams are always ready to offer advice across different offshore structures and initiatives.

MAS Issues Guidelines to Discourage Cryptocurrency Trading by General Public

DPT service providers can only market or advertise on their own corporate websites, mobile applications or official social media accounts.

When the rubber hits the road – making insurance claims under the new reforms

ASIC received over 300 applications for a claims handling and settling service AFS licence authorisation in 2021.

Leading law firm for 14 areas in Asia Pacific in 2022 editions of Chambers Greater China and Legal 500

This closely follows our recent incredible showing in the Chambers Asia Pacific Guide 2022.

Top Tier ranking for Carey Olsen in The Legal 500 Asia-Pacific

Lawyers are also praised for their ability to 'work quickly and efficiently whilst maintaining the very high standards they have always had' as well as their 'extensive experience in handling BVI litigation proceedings'.

The Monetary Authority takes disciplinary action against 33 Financial Services Limited for contravention of the Payment Systems and Stored Value Facilities Ordinance

The Monetary Authority (MA) has reprimanded and ordered 33FS to pay a pecuniary penalty of HK$875,000 for contravening section 8Q of the PSSVFO as it failed to fulfil the minimum criterion relating to anti-money laundering and counter-terrorist financing

Malaysia: Policy changes announced on taxation of foreign-source income, stamp duty remission

The finance act does not specify when income will be considered to be “received” in Malaysia.

Malaysia Says Recovered 1MDB Funds Only Enough to Pay Debt Principal for 2022

The government has repaid 13.3 billion ringgit of 1MDB's debt so far, with 38.81 billion ringgit still outstanding as of Dec. 31, the ministry said.

Appleby's Hong Kong Office Recognised as a Long-Established and Well-Regarded Offshore Firm by Legal 500

Appleby is one of the longest established offshore firms in Hong Kong

Being on top of Ultimate Beneficial Ownership Compliance

While for lawmakers it is still a field for further discussion, companies in different jurisdictions are required to be compliant with the UBO laws already set out.

Monetary Authority of Singapore (Amendment) Bill

Monetary Authority of Singapore (Amendment) Bill" - Second Reading Speech by Mr Lawrence Wong, Minister for Finance and Deputy Chairman of the MAS

Appleby Advises China Post

The Hong Kong team was led by managing partner David Bulley and partner Vincent Chan.

Hong Kong: Police ‘informal freeze’ of bank accounts held invalid – Implications for financial institutions and businesses

The Police have been developing and will soon launch a free software to assist businesses in identifying phishing scams.

Legal, Regulation & Compliance