Managers of Wealth Asia Pacific

ASIC consults on reference checking and information sharing protocol

ASIC has also prepared a draft information sheet to help licensees understand their reference checking and information sharing obligations.

The Need for Tranche 2 AML Reform in Australia

As recently as 12 November, the Australian Greens proposed an amendment to an AML Bill before the Senate to regulate lawyers, conveyancers, accountants, high-value dealers, real estate agents, trust and company service providers.

HKMA Consults on Local Implementation of Final Basel III Reforms

The consultation does not cover the revised market risk framework and the revised CVA framework, which will be addressed in a separate consultation.

Malaysia introduces framework for Islamic impact funds

Islamic funds with “waqf” features enable investors to participate in socially impactful activities.

Frydenberg’s tough message to regulators – you have enough powers

“Our regulators now have the tools they need to deliver on their mandate without needing to come to government with more requests,”

Appleby Advises Lumina Group

Lumina provides fire safety services in Hong Kong.

Banking circles grapple over new chief selection

Choi Jong-ku, former chairman of the regulatory Financial Services Commission, had previously been deemed a plausible choice, but Choi declined to be named.

Credit Crisis Concerns Climb in China

The marquee bad debt headline was held by state-owned energy firm Yongcheng Coal & Electricity Holding Group, which defaulted on 1 billion yuan ($152 million) last Friday and sent coal miner bonds nationwide tumbling.

Singapore to run budget deficit into 2021 amid pandemic aid, says PM

Singapore was among the first in Asia to unveil massive stimulus, and in March sought to tap its national reserves for the first time since the global financial crisis.

RBNZ Consults on Implementation of Bank Capital Changes

The RBNZ is consulting on detailed rules on how it will implement the decisions.

One of Singapore's Best Law Firms 2021

Our local and international teams here are growing each year, covering not just Singapore and the US, but major jurisdictions like Australia, India and the UK.

Malaysia’s EPF to liquidate some assets after ten-fold jump in withdrawal limit

The number of members who will be eligible to make the withdrawals also jumps from around 600,000 previously to two million.

High Court grants bank creditors’ application to place Hyflux under judicial management

This means that the company’s current board, including founder-CEO Olivia Lum, will have to step down.

Regulator to revise proposed terms on the executive pay policies of insurers and banks

The new draft responds to industry feedback from the initial consultation

Insurers urged to respond to new accounting standard

ASIC has outlined a number of key matters to be considered as part of any implementation plans.

FSB Finalises Guidance on Assessing CCP Financial Resources

The FSB prepared the guidance to support jurisdictions and authorities in determining whether there is a gap in the resources and tools available for resolution that must be addressed.

Thailand regulator plans tighter rules for issuers of perpetual bonds, report says

Ms. Sirivipa says the regulator will hold a public hearing with market participants to see if they support the proposal to tighten the rules.

HKEX Proposes Revamp of Hong Kong IPO Settlement Process

The improved digital workflows and interactions will enable automation, operational precision and more robust risk controls throughout every IPO’s settlement journey, HKEX says.

ASIC consults on promoting access to affordable advice for consumers

This consultation is part of a broader piece of work by ASIC to understand how to improve access to personal advice for consumers.

Bank Negara still has room for monetary easing

Therefore, we maintain a 50% probability of a 25 basis points (bps) rate cut at the next Monetary Policy Committee meeting in January.

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