Managers of Wealth Asia Pacific

MAS, banks association issue paper on mitigating remote working risks

MAS said financial institutions are advised to benchmark their remote working controls against the examples in the paper.

FSB Urges Indonesia to Further Advance OTC Derivatives Reforms

The review finds that the Indonesian authorities have made some progress in implementing OTC derivatives reforms, while focusing on developing their domestic derivatives market.

Monetary Authority of Singapore issues guidance on remote working

MAS encourages FIs to benchmark their remote working controls against the examples in the Paper.

Baker McKenzie wins 2020 Global PERE Awards for Law Firm of the Year in Asia

"We are thrilled to be named Asia Law Firm of the Year in both the 'Fund Formation' and 'Transactions' categories."

Appleby Advises in Structured Deal for India Green Power Holdings

The Company will provide financing for renewable power projects that will generate and provide clean power in India in a sustainable manner and support the communities where its projects are located.

Malaysia Secures Settlement from AmBank to Resolve 1MDB Claims

The MYR 2.83 billion payment settles “all outstanding claims and actions in relation to the AmBank Group’s involvement in the 1MDB matter,” the Ministry said.

ANZ Hit by 1MDB-Linked Malaysian Bank Settlement

ANZ’s upcoming half-year results will take a hit as a result of the writedown but its overall capital position will not be affected as it already holds 100 percent capital against its AmBank stake.

Covid Bankruptcies Could Result in $1tr in Credit Losses: BIS

Broadly positive sentiment towards emerging market assets was observed, particularly in East Asia, amid a search for yield that supported portfolio flows into these economies, the BIS says.

FSC Korea Fines Ten Foreign Firms for Short Selling Violations

All the other firms committed a single violation during the relevant period and were penalised between KRW 36 million and KRW 72 million.

Westpac Announces New Partner in Digital Banking Push

Westpac’s announcement highlights efforts by Australia’s incumbent banks to step up digitalisation efforts to defend their over 70 percent market share against neobanks/digital banks.

Move away from bank platforms boosts Pengana fund

Exposure to the three leading wealth platform stocks has helped the Pengana Emerging Companies fund so far this year as smaller players outpace traditional bank-owned platforms.

Malaysia’s Apex Court Decides Labuan FSA Guidelines Carry The Full Force Of Law

A perennial question posed - what weight should be attached to guidelines issued by Labuan FSA.

Watchdog orders banks to compensate investors for damages from Lime misselling

The committee ordered Woori Bank to compensate an 82-year-old man who had sought to protect his principal for 78 percent of his total investment, which had been frozen since 2019.

SFC and FRC to enhance collaboration

To ensure that their regulatory efforts are well coordinated, the two regulators agreed to notify one another when preparing and issuing policies or guidelines which may have a significant impact on their respective regulatory functions.

FSB Work Plan to Focus on Addressing Covid Vulnerabilities

To address Covid-19 related vulnerabilities, the FSB will produce an assessment of initial lessons learned from the Covid Event for financial stability, and report in April on the factors needed for an orderly unwinding of support measures. The FSB will a

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