Managers of Wealth Asia Pacific

Discontinuation of $1,000 Note Issuance to Pre-empt Money Laundering and Terrorism Financing Risks

The move is aligned with international norms and major jurisdictions have already stopped issuing such large denomination notes.

Hong Kong’s SFC Proposes Climate Risk Requirements for Asset Managers

Large Fund Managers would also be required to assess the relevance and utility of scenario analysis for evaluating the climate resilience of their strategies and keep internal records of those assessments.

RBA Slashes rates to 0.1%

This is the third time this year that interest rate has been cut.

Guide to Restructuring, Turnaround and Insolvency in Asia Pacific

The challenges associated with successfully navigating restructuring and insolvency has been further compounded this year by COVID-19 related temporary or permanent changes to insolvency legislation.

Ant Pullout Triggers Hong Kong Dollar Scramble

But just weeks after green-lighting the fintech giant for listing, regulators reversed their decision and the city is now attempting to unwind the excess liquidity.

FSC Korea to Introduce FATF-aligned AML Rules for VASPs

Under the Act, the ‘travel rule’ will apply to VASPs in respect of all virtual asset transaction worth more than KRW 1 million

BaFin, FREP Were Deficient in Supervising Wirecard, says ESMA

ESMA’s peer review focused on BaFin and FREP’s application of the Guidelines on Enforcement of Financial Information

HKMA Seeks ‘Multi-CBDC Platform’ to Enhance Cross-border Payments

As part of the project’s second phase, the HKMA and BOT will soon bring banks and large corporates into trials to test the network using actual trade and capital market transactions.

ADB approves US$483.8 million loan for Myanmar road project

The 64-kilometre expressway will help strengthen links with Thailand and other GMS countries

BCBS Updates G20 Leaders on Basel III implementation

Since the eighteenth progress report on Basel III adoption issued in July, China has made progress on implementing rules on TLAC holdings, having issued draft rules in late September which will apply to the country’s G-SIBs starting from 1 January 2

BCBS Updates G20 Leaders on Basel III implementation

Indonesia has made progress on margin requirements for non-centrally cleared derivatives and capital requirements for CCPs.

MAS steps up enforcement actions against market abuse and financial misconduct

MAS imposed $3.3 million in composition penalties for money laundering-related control breaches, and issued 25 prohibition orders against unfit representatives.

PBOC to Scrap Market Maker Approval Process in Interbank Market

An incentive and restraint mechanism must also be built into the market making agreements with trading platforms, to ensure market discipline is enforced.

HK to Allow Secondary Listings from Some Corporate WVR Companies

The listings of Alibaba, JD.com, NetEase, Xiaomi and Meituan Dianping in Hong Kong were made possible by the 2018 reforms.

SFC: «Investor Confidence is Absolutely Essential»

We need to be clear-eyed about the challenges we face and we also need to maintain our independence and impartiality at all times.

Singapore CPF-approved top ten funds include five focused on China, Morningstar says

The Morningstar figures show that two-thirds of the 30 top-performing CPF-approved funds are focused on Asia, including six Singapore funds, five for China, and one each for India and Japan, while seven are focused on the Asian region.

J.P. Morgan Ups Mainland China Securities Ownership

The increased stake will place J.P. Morgan ahead of competitors like Morgan Stanley, Goldman Sachs and UBS, which still own 51 percent of their own securities units but have intentions to move towards full ownership.

Singapore Bill to Align Payment Services Act with FATF Standards

The bill seeks to enhance the regulatory framework for VASPs (virtual asset service providers) – including digital exchanges, cryptocurrency firms and e-wallet services – to implement enhanced standards set by the FATF

FASEA finally delivers on accessibility of code submissions

Stoker asked Glenfield why, given that FASEA had the ability to publish links to the submissions, they were not available on the web site, with the FASEA CEO claiming the submissions were available.

HKMA to Target Accelerated RegTech Adoption in 2021

The HKMA wants to see banks embracing and trialling new technologies and proofs of concept, and ultimately adopting more Regtech solutions, said central banker Arthur Yuen.

Legal, Regulation & Compliance