Managers of Wealth Asia Pacific

Goldman Sachs shifts to full ownership of China securities joint venture

Goldman has previously indicated it would double its headcount in China to 600 people by 2025 as part of its expansion plans.

Pictet AM readies new bond fund

The Geneva-based asset manager plans to launch a Hong-Kong domiciled Asia fixed income product.

Singapore and China expand financial cooperation to support post-COVID-19 recovery

These measures will build on existing areas of collaboration and facilitate financing and investment activities in support of a post-COVID-19 recovery in Singapore and China.

Regulator fines Bank of China over loss-making product linked to crude oil

The bank is considering compensating investors up to a fifth of original investments in the products and shouldering all losses in negative territory, sources told Reuters in May.

Digital Infrastructure to Enable More Effective Financial Planning by Singaporeans

The Ministry of Manpower and GovTech have developed a digital financial planning service, MyMoneySense, that makes use of SGFinDex to provide Singaporeans with an overview of their finances.

IOSCO Consults on Fair and Equitable Access Market Data

The consultation report describes the concerns related to market data access, costs and fairness, asking for industry views on the issues and how regulators should respond.

SFC Proposes to Introduce HK Investor ID Regime in 2022

Under the proposed investor identification regime, expected to be implemented in Q1 of 2022 at the earliest

PBOC, CBIRC Finalise D-SIBs Assessment Framework

ICBC, Agricultural Bank of China, Bank of China, and China Construction Bank will automatically be included in the D-SIBs list, as they are already classified as G-SIBs using the BCBS (Basel Committee on Banking Supervision) assessment methodology.

StanChart Explores Second Digital-Only Bank

This will give us the option to explore an additional banking license.

MAS Awards Licences to Four Digital Bank Applicants

The licences were awarded to the Grab-Singtel consortium, a Sea Limited subsidiary, an Ant Group entity, and a consortium formed by a Chinese property giant.

CBA granted banking licence for Dutch subsidiary

Commonwealth Bank of Australia is a step closer to providing better access to European markets for its institutional clients post-Brexit.

Hong Kong to Introduce Corporate Rescue Regime Next Year

The proposed corporate rescue procedure will allow the appointment of a provisional supervisor to act as a distressed company’s agent while it is continuing to act as a going concern.

Mudasir Mohammed Naseeruddin arrested and charged with dishonest conduct

ASIC also alleges that Mr Naseeruddin misused his position as a director of Secure Investments for his own benefit by using funds invested with the company to purchase shares for himself in a security company.

PBoC: Don’t Bet on Bailouts

Although also a driver of monetary policy, PBoC differs from other major central banks such as the U.S. Federal Reserve and the European Central Bank in that it is not an independent institution but an entity directly under the State Council

Asia Digital Bank obtains licence from Labuan FSA

On the other hand, it will enable high-quality investors from Asean and the world to participate in and share the fruits of regional economic growth.

Westpac hit with a second bank regulator penalty

The breaches, which were identified during 2019 and 2020

Turning hope into reality

A brighter outlook but recovery will be gradual

ASIC consults on consumer remediation guidance

ASIC is currently monitoring over 100 remediations that could see the return of at least another $3.55 billion in total to over 3.6 million consumers upon finalisation.

HKMA Unveils New FPS Feature Allowing Link to HKID

FPS turnover has also grown steadily. In October 2020, the average daily turnover reached 452,000 real-time transactions (worth HKD 4.4 billion and CNY 44 million), an increase of nearly twofold from December 2019.

Singapore Launches Initiative to Groom Future Private Bankers

Trainees will complete a traineeship period which will make up at least 30 percent of the university programme duration.

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