Managers of Wealth Asia Pacific

SFC provides additional guidance on external electronic data storage

The SFC today also made consequential changes to its FAQs on premises for business and record keeping.

ASIC releases updated regulatory guide on time-sharing schemes

The updated RG 160 will provide industry with the certainty it requested of ASIC, especially leading up to year end.

ASIC releases regulatory guide on product design and distribution obligations

RG 274 addresses demand from industry for ASIC guidance as they prepare for the obligations to take effect on 5 October 2021.

ASIC takes action against Union Standard International Group and its former corporate authorised representatives

ASIC alleges Union Standard provided financial services including trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those foreign exchange contracts.

Big Banks Were Progressing on Basel III Agenda Prior to Covid

The report says that from June 2019 to December 2019, the average CET1 capital ratio under the initial Basel III framework increased from 12.8% to 13.0% for Group 1 banks and from 14.8% to 15.2% for Group 2 banks.

ICMA Announces Launch of Climate Transition Finance Handbook

The recommended disclosures are based on the work of the Climate Transition Finance Working Group, which is made up of representatives from more than 80 entities participating in the capital markets.

SFC Provides Alternative for Compliance With Data Storage Rules

On a case-by-case basis, the SFC may consent to just one MIC or one responsible officer (RO) ordinarily resident in Hong Kong to be named for the purposes of the October circular.

Process Review Panel Report 2019-20

The SFC thanks all members of the PRP for their valuable contribution to the work of the SFC, including the observations and recommendations made in the annual report.

Government to wind up FASEA

The FSCP currently supports ASIC in conducting banning orders against individuals for misconduct.

UniSuper wins in court judgement on board

All UniSuper directors' act in the best interest of our members, regardless of who first nominated them for appointment.

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

Legal, Regulation & Compliance