Managers of Wealth Asia Pacific

Unregistered managed investment scheme wound up

In November 2018, ASIC obtained asset preservation orders over the assets held by the defendants.

SEC tightens rules on investment firms

“An investment company may constitute its Audit Committee as its IOE or may engage the services of a custodian bank, trust entity or an external auditor to serve as such,” the SEC said.

Credit Suisse Director Launches Party in Hong Kong

A director at Credit Suisse is co-founding a new party in Hong Kong to seek reforms and «promote a democratic political system best suited» for the territory.

Baker McKenzie advises Cambium Grove Capital in connection with its investment in RELX

The investment reflects CGC's support for RELX's mission in striving for a smokeless future.

APRA Revises Bank Capital Framework to Add Flexibility

The new consultation is a continuation of a process that responds to the Financial System Inquiry recommendations and ensures Australian banks meet the internationally agreed Basel III requirements.

Japan’s central bank now tops GPIF as largest owner of domestic stocks, report says

The central bank said in March that it planned to purchase 12 trillion yen worth of Japanese ETFs this year, double the amount bought in 2019.

Global Bank Trio Head to Trial Over Collusion in Australia

Under Australian regulation, a criminal cartel charge will result in a fine of up to A$10 million ($7.4 million) or triple the amount gained from the wrongdoing, whichever is greater, for the firm.

GSAM to launch thematic funds in Singapore

The firm is also expected to roll out two ESG-focused products in the Lion City.

Test ahead for RBA to maintain policy plans

“Central banks have been adamant they will not withdraw stimulus too quickly but we know that central banks love to talk the talk and then walk away very quickly if they think things are getting out of control,”

A monetary mind at the treasury

Janet Yellen as the next US treasury secretary is good news for advocates of rules-based monetary policymaking

APRA Urges Smaller Banks to Identify Possible Merger Partners

“This process should not be a compliance exercise, rather it is part of good corporate governance for every entity to have a well thought out plan for managing stress.”

ASIC extends relief from portfolio holdings disclosure

Depending on when regulations are made, ASIC may shorten the period of the relief by a further legislative instrument.

SFC issues quarterly report

The SFC also began a consultation on proposals to amend the anti-money laundering and counter-financing of terrorism guidelines to align with international standards and provide guidance for applying these measures in a more risk-sensitive manner.

APRA seeks to enhance flexibility and resilience of ADI capital framework

Given the Australian banking sector is well-capitalised, the proposed changes are not expected to require ADIs to raise additional capital.

China's $13tn shadow banking sector gets clearer definition

Top bank regulator lists criteria for determining threats to financial system

Investment bankers head to Federal Court

The magistrate, Jennifer Atkinson, did so on Tuesday, and the Federal Court proceedings are due to kick off before Justice Michael Wigney next Tuesday.

Appleby Advises Yue Kan Holding Limited on its HKD125.1 Million Listing on the Main Board of the Hong Kong Stock Exchange

Yue Kan intends to apply the net proceeds from the Share Offer to expand its fleet of vessels and site equipment and recruit additional staff to operate these vessels and equipment.

Legal, Regulation & Compliance