Managers of Wealth Asia Pacific

APRA releases quarterly authorised deposit-taking institution statistics for December 2020

The ADI industry was resilient in the December quarter, with high capital ratios and strong liquidity and funding positions.

Malaysia mulls higher social security contribution rate, not raised in 50 years, report says

Socso contributions are compulsory and are deducted from employees’ monthly salaries.

FATF, Egmont Group Identify 35 Indicators of TBML Risk

The risk indicators provided in the new report are derived from a sampling of data received by the FATF and the Egmont Group.

ASIC permanently bans Melbourne adviser and cancels AFS licence of The Australian Dealer Group Pty Ltd

ASIC found that Mr Bhandari acted dishonestly while assisting consumers to find and consolidate their superannuation and obtain hardship payments.

Hong Kong Cross-Border Wealth Scheme Delayed by Pandemic

Hong Kong Banks Ready for Greater Bay Area Dive

Chinese State-backed Funds Intervene to Calm Market

The CSI 300 Index closed 0.66 percent higher on Wednesday (10 March), though gains were capped by concerns of policy tightening.

Market Misconduct Tribunal sanctions Magic Holdings International Limited and its directors for late disclosure of inside information

The MMT considered that Magic’s breach of the disclosure requirement was all the more serious

BOT Unveils Results of ‘CBDC for Business’ Project

The BOT has announced the results of tests on its CBDC for Business Prototype Development Project.

S. Korea Amends Bill to Protect Private Equity Fund Investors

The measures included requirements for PEFs to undergo regular audits, adopt new valuation guidelines, conduct regular liquidity stress tests, and cap leverage at 400 percent of assets.

ASIC obtains compliance orders for court enforceable undertaking

ASIC Commissioner Danielle Press said, ‘ASIC first took action in this matter because the law requires that financial advisers act in their clients’ best interests.

ASIC imposes additional licence conditions on retail OTC derivatives issuer AxiCorp Financial Services Pty Ltd

On the same day, AxiCorp applied to the Administrative Appeals Tribunal (the Tribunal) for a review and stay of ASIC’s suspension decision

APRA closes investigation into Westpac anti-money laundering breaches

Having carefully considered the results of ASIC’s investigation, APRA has determined to close its investigation.

Indonesia bourse to allow dual-class shares, SPACs to draw tech firms, report says

SPACs are shell companies that raise money via an initial public offering for the sole purpose of acquiring another firm.

BOJ, FSA Urge FIs to Push Forward LIBOR Transition

The BOJ-FSA letter is aimed at helping financial institutions better understand the need to urgently take action to prepare for the cessation of LIBOR, in light of the latest announcements.

ASIC consults on implementing a deferred sales model for add-on insurance products

The deferred sales model introduces a four-day pause between the sale of a principal product or service and the sale of an add-on insurance product.

Singapore central bank to invest US$2 billion in green assets via select managers

“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey,”

FSC Korea Extends Easier Liquidity Rules for Banks

The easier liquidity rules, after an extension in August, have been scheduled to end this month. The FSC has now decided to extend the measures until end-September.

Myanmar Banks Fail to Resume Operations Despite CBM Order

The banks lack staff for functions ranging from counting money to providing payroll services to companies, the Financial Times reports.

Ogier launches Talent4Impact fellowship for next generation of ESG professionals

This is a really unique opportunity to gain exposure to the ESG and Impact at specially selected local businesses and organisations striving to transition Hong Kong to a sustainable economy.

"The Future of Capital is Green" - Keynote Address by Mr Ravi Menon

“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey.”

Legal, Regulation & Compliance