Managers of Wealth Asia Pacific

ASIC cancels AFS licence of Migration Cover Pty Ltd

The cancellation of Migration Cover’s AFS licence is part of ASIC’s ongoing efforts to improve standards across the financial services industry.

APRA monitors Xinja return of deposits

As Australia’s financial safety regulator, APRA will closely monitor the return of deposits to ensure all funds are returned to Xinja depositors in an orderly and timely manner.

ASIC places restrictions on Regional Express following continuous disclosure failures

ASIC considers the ability to use a reduced-disclosure prospectus a privilege that is dependent on compliance with other aspects of the law, including that companies meet their ongoing disclosure obligations.

Redefining the supply chain finance landscape

Maintaining a sustainable programme to mitigate supply chain disruption

Maples Group Advises Pleiad Investment Advisors on its First Private Equity Fund

The team was led by Funds & Investment Management Partner, Ann Ng and assisted by Associate, Dan Won.

Read our special report on Labuan IBFC, gateway to Asia

And we feature an overview piece from the LIBFC's CEO Farah Jaafar sets out how "an innovative and forward-looking intermediation centre" has developed over the years to now offer one of the widest and solutions in Asia.

APRA updates capital management guidance and releases ADI stress test results

In determining the appropriate level of dividends, APRA expects ADIs and insurers to remain vigilant, regularly assess their financial resilience through stress testing, and undertake a rigorous approach to recovery planning.

StanChart Permitted to Establish Digital Bank in Singapore

StanChart Singapore was in August named the country’s first SRFB, with MAS looking to further boost the SRFB framework to possibly offer an additional full bank licence.

Hong Kong Audit Regulator Gains Access to Chinese Audit Papers

The lack of access to these audits in the US have been a continued source of tension after Luckin Coffee fraud was exposed.

S&P DJI Announces Removal of Chinese Companies from Indices

S&P Dow Jones Indices said the securities named in its announcement will be deemed ineligible for S&P DJI equity indices, effective prior to the market open on 21 December 2020.

MAS Expands Mandate of Industry Steering Committee to Drive SIBOR Transition

The Committee will be renamed as the Steering Committee for SOR & SIBOR Transition to SORA (SC-STS).

Australia: AML Bill Passes Senate, DNFBP Amendment Rejected

The AML bill has passed the Senate without the amendment to include DNFBPs.

Appleby Hong Kong partner Fiona Chan named as lawyer of the year for Offshore at the women in business law awards 2020

Leading offshore law firm Appleby is delighted to announce that Hong Kong based Corporate Partner, Fiona Chan, has been recognised as “Lawyer of the Year for Offshore” at the Women in Business Law Awards 2020 ceremony which was hosted on 10 De

Monetary Authority of Singapore's World Tour

Singapore has been especially active in bolstering relationships with China beginning with Chongqing where an agreement was made last month for iSTOX to build a digital exchange alongside other initiatives.

ASIC report explores how to measure ‘value for money’ in default insurance in superannuation

In producing REP 675, ASIC considered publicly available data on default insurance offered by 20 large MySuper products, which at 30 June 2020, covered 82% of MySuper member accounts.

Malaysia’s RHB Bank officially exits Hong Kong

This includes the bank's asset and wealth management businesses.

Philippine SEC Proposes Stronger Rules on Beneficial Ownership

One of the measures proposed by the SEC is to ban the issuance, sale or public offering of bearer shares and bearer share warrants in the country.

Singapore Fund Services: The rise of the VCC

Clients don’t have to worry about hiring additional staff within a short period of time to fill a knowledge gap in a fast-changing regulatory environment.’ says Kelvin in conclusion.

Indonesia regulator sees jobs law spur regional municipal bond issuance, report says

The legislation amends 79 existing laws and covers a wide range of areas, including making it easier to do business, protection for cooperatives and small businesses, and improving the investment climate.

FATF Releases New Report on Trade-based Money Laundering

The report takes stock of current TBML risks and uses case studies from the FATF’s Global Network to explain the ways in which criminals exploit trade transactions to move money, rather than goods.

Legal, Regulation & Compliance