Managers of Wealth Asia Pacific

Singapore, Brunei Darussalam central banks ink banking and supervision pact

The memorandum of understanding was signed in Singapore by MAS Managing Director Ravi Menon and Brunei Darussalam Central Bank Managing Director Rokiah Bakar.

Morgan Stanley IM Approved for Full Ownership in China

Morgan Stanley IM will increase its stake from 49 percent to 100 percent upon completion of the transaction which is subject to business registration and other procedures required by Chinese regulatory entities.

Suspicious websites related to Fubon Bank (Hong Kong) Limited

The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions.

Hong Kong-China Border Resumes Normal Travel

The reopening will be welcome news for the financial sector as greater ease of travel will likely boost cross-border activities between Hong Kong and the mainland.

China and Barbados look to strengthen ties

Ambassador Xiusheng conveyed his appreciation of Barbados’ One China Policy, and Minister Symmonds gave the assurance that Barbados remains committed to this policy.

Hong Kong regulators publish stricter rules against contractors

It is yet to be seen whether the strengthened regulatory action or the proposed penalties proposed under the Occupational Safety and Health Amendment Bill will deter contractors.

Sweet dreams: Korean bank entices customers with banknote-stuffed pillows

The pillows are filled with a combination of the banknotes and EPP, an eco-friendly material.

Chinese consumers are eager to purchase luxury as a means of social advancement and self-differentiation, finds KPMG report

The report also draws upon insights from in-depth interviews with executives from the luxury industry to supplement the findings.

Conyers Represents StoneBridge Acquisition Corporation

The business combination agreement, which has been approved by the Board of Managers of DigiAsia and by the Board of Directors of APAC, is expected to close during the second quarter of 2023

J.P. Morgan Asset Management gets nod to buy out China joint venture partner

The joint venture firm, China International Fund Management, is 51% owned by J.P. Morgan Asset Management and 49% by Shanghai International Trust Co.

Former Melbourne financial planner Bradley Grimm pleads guilty to dishonest conduct

This followed the listing for trial of the criminal charges against Mr Grimm to commence on 18 January 2023.

Home finance companies and directors to pay $150,000 for failing to cooperate with AFCA

For the next 12 months, both companies are restrained from engaging in credit activity and the Heremaias are restrained from being involved in any business carrying on credit activity.

APRA imposes additional licence conditions on Diversa Trustees

Diversa has approximately 320,000 members and more than $11 billion in funds under management.

Sovereign wealth funds and capital call facilities – the issues to consider

Sovereign immunity risk small in Australia

Hong Kong Woos Middle East Firms for Listings

The markets, for some, are in the mainland, Hong Kong and Southeast Asia.

JPMorgan, Standard Chartered win approval to expand in China

The approval came more than two years after the US bank had applied to buy out CIFM, in 2020.

THailand's SEC issues digital wallet rules

Pursuant to the transitional provisions, digital asset business operators who had provided custody of clients’ assets prior to the effective date of the regulations are required to fully comply within six months as from the effective date.

Carey Olsen celebrates eight new entries in Legal 500 Asia 2023 with Singapore office ranked Tier 1 for second year in a row

In addition, Helen Wang, who was recently promoted to partner, and senior associate Amelia Tan have also been recognised as Rising Stars in Singapore.

BOJ jolts financial markets but risk of a bigger shock remains

Standing pat caught some traders by surprise, but it’s unlikely to douse speculation that the BOJ will normalise policy as inflation in Japan accelerates and governor Haruhiko Kuroda nears the end of his term.

Bank of Japan keeps yield control policy unchanged, dollar surges

The decision follows the BOJ’s surprise move last month to double the yield band, a tweak that analysts say has failed to correct market distortions caused by its heavy bond buying.

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