Managers of Wealth Asia Pacific

ANZ NZ taps Bud for Open Banking implementation

New Zealand's biggest bank, ANZ NZ will utilise Open Banking technology from the UK's Bud to improve the loan approval process for business customers.

Why Hong Kong Remains an Ideal Place to Resolve Your Commercial Disputes

As one of the leading commercial hubs for international business transactions, Hong Kong also prides itself as a prime location for dispute resolution not only in the Asia Pacific, but also worldwide.

The State of Financial Crime 2021

Technology, regulation, and the future of financial crime compliance

Over HK$8 billion from scam victims laundered through Hong Kong bank accounts in 2020: police sources

As the HK$8.33 billion in 2020 involved nearly 2,600 stop-payment requests from victims, police sources said thousands of Hong Kong bank accounts – both personal and business – were believed to have been used to collect and launder the funds.

Thailand regulator says cryptocurrency managers will now have to be licensed

The move is expected to pave the way for the Stock Exchange of Thailand to launch a digital asset trading platform this year, according to a fund manager from a local asset management firm in Bangkok.

Hong Kong Posts Record-High Laundering Interception

2,600 stop payment requests from victims, police sources and numerous business and personal bank accounts – potentially more than 10,000 – in Hong Kong were believed to be used to collect and launder the funds.

RBI Issues Draft Guidelines to Open Up CDS Market

OTC CDS transactions should be reported to CCIL’s trade repository within 30 minutes.

Budget 2021: Singapore to Finance Infrastructure with Green Bonds

The Budget announcement also includes a SGD 900 million household support package to help families with expenses, along with initiatives to help workers and businesses weather the Covid-19 crisis.

Carey Olsen Singapore advises CN Energy on Nasdaq listing

The IPO raised US$20 million for the China-based manufacturer and supplier of wood-based activated carbon and a producer of biomass electricity.

Carey Olsen Singapore advises CN Energy on Nasdaq listing

Lawyers from Carey Olsen's corporate team in Singapore have advised on the initial public offering of CN Energy Group. Inc. on the Nasdaq Capital Market.

CSRC Targets ‘Shadow Shareholders’ in New Guidelines

The latest guidelines restrict surprise share purchases before going public and abnormal share purchase prices

Philippines: New antimoney-laundering rules to focus on riskier institutions

An enhancement to the existing Anti-Money Laundering Risk Rating System, MRAS uses a four-point rating scale—high, above average, moderate and low—in evaluating a BSP-supervised financial institution’s money-laundering risk profile.

Conversation with ASIC: AFIA Risk Summit

A speech by ASIC Commissioner, Sean Hughes, to the Australian Finance Industry Association (AFIA) Risk Summit, Tuesday 16 February 2021.

21-025MR CBA liable for overcharged interest – Royal Commission case study

The total overcharged interest exceeded $2.2 million. ASIC considers that CBA’s conduct in this matter, which was examined in detail during the Financial Services Royal Commission, resulted from inadequate systems and processes (20-305MR).

S. Korea’s central bank faces key changes to role in digital era

Bank of Korea under pressure to tackle digital currency development, payment settlement oversight and mandate issues

Hong Kong plans stricter money laundering checks on Chinese officials

Territory’s banks will have to monitor transactions by politically connected mainlanders

HKMA Raises Expectations for Bank Codes of Conduct

The revised SPM also enhances the role of senior management oversight in implementing the Code of Conduct, and fostering and maintaining ethical standards and expected values set by the Board throughout the bank.

RBI Limits Investment in NBFCs from FATF Non-compliant Jurisdictions

Existing investors in NBFCs may continue with their investments and bring in additional investment to support continuity of business in India.

ASIC 'very supportive' of quality limited advice

Falinski referred to limited personal advice as being a “very dangerous form of advice” and suggested it was doing consumer harm and asked what action ASIC was taking to shut it down.

Hong Kong trade pact pushed

According to Mrs Auramon, Thai exporters are entitled to myriad benefits from the pact, notably for trade in goods for which Hong Kong has already waived customs duties.

Legal, Regulation & Compliance