Managers of Wealth Asia Pacific

ASIC proposes to extend intra-fund transfer relief for super trustees

We have assessed that the relief is operating effectively and continues to form a necessary part of the legislative framework.

Federated Hermes to open Hong Kong office

The US asset manager is seeking to expand its Asian footprint, honing in on the region's wealth and institutional markets.

Former United Global Capital financial adviser Milutin Petrovic’s ban varied to three years

Mr Petrovic sought a review of a decision to ban him for six years which was made by a delegate of ASIC.

Enforcement collaboration between HKMA and SFC - SFC reprimands and fines EFG Bank AG HK$10.85 million for regulatory breaches and internal control failures

It also failed to ensure that sufficient information and warning statements relating to the distribution of certain complex products were provided to customers before or at the point of each transaction.

Overseas remittance rule overhaul intensifies competition among banks

In particular, internet-only banks, known for their streamlined processes, are poised to take on a more prominent role.

Hong Kong central bank cuts interest rate, tracking Fed move

It was the third easing by the HKMA this year and follows a similar cut late in October.

ASIC issues over $2.2 million in infringement notices to 12 large proprietary companies for alleged failure to lodge financial reports

The notices were issued as the result of a three-month surveillance following ASIC’s increased focus on non-lodgement of financial reports by large proprietary companies.

Scam alert related to banks

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.

APRA imposes additional licence conditions on HESTA

APRA has identified deficiencies in HESTA’s board governance and management of risks which rendered HESTA inadequately prepared to effectively oversee and manage the transition.

ASIC issues catalogue of key legal obligations for private credit funds

The catalogue provides a practical reference point and applies to operators of retail and wholesale private credit funds in Australia. It is also relevant to the broader funds management sector.

ASIC proposes to remake relief instruments for AFS licensees and overseas banks

We have assessed that the instruments are operating effectively and continue to form a necessary part of the legislative framework.

Interest rate of second interest payment for series of retail infrastructure bonds due 2027

According to the Issue Circular dated 26 November 2024 for the Retail Infrastructure Bonds

ASIC issues final warning for urgent action from financial advice industry

ASIC encourages AFS licensees and relevant providers to double check the data using these new instructions.

ASIC suspends AFS licence of Focused Financial Advice following failure to replace key person

ASIC also found that FFA was unaware of the breach until ASIC made enquiries of the licensee.

Banned SMSF Auditor charged with continuing to act whilst disqualified and falsifying documents

ASIC alleges that between June 2024 and January 2025 Mr Convery continued to act as an SMSF auditor despite knowing that he was disqualified.

Super trustees urged to accelerate progress on retirement support for members

While some trustees have shown leadership by investing significant effort

Review Group Completes Equities Market Review, Unveils SGX-Nasdaq Dual Listing Bridge, S$30 million “Value Unlock” Package, and Second Batch of EQDP Asset Managers

The bridge aims to attract quality growth companies in Asia with market capitalisation of S$2 billion and above, and which have an Asian nexus and global ambitions, to raise capital from investors in both markets.

QLD shadow director charged with $8m debt factoring fraud involving Bunnings Warehouse

Debt factoring is where a business makes an agreement with a third-party finance provider to sell its unpaid invoices (accounts receivable) at a discount to receive cash prior to the invoices being due for payment.

Bank of England, Monetary Authority of Singapore and Bank of Thailand to Explore Synchronised FX Settlement Across Borders

We look forward to exploring how synchronised settlement can enhance interoperability across different jurisdictions and infrastructures through this collaboration.

APRA releases notes for ICA CEO roundtable on striking the right regulatory balance - October 2025”

APRA colleagues and senior representatives from the Australian Securities and Investment Commission (ASIC).

Legal, Regulation & Compliance