Managers of Wealth Asia Pacific

Hong Kong regulator bans former StanChart banker

The SFC’s disciplinary action follows a referral by the HKMA.

Indonesia’s big banks resist pressure to lower lending rates

Banks’ reluctance to cut borrowing costs poses a hurdle for President Joko Widodo’s plan to lift Southeast Asia’s largest economy out of its first recession in more than two decades.

ASIC releases draft information sheet for insurance claims handling

ASIC expects to start taking applications for AFS licences, and variations to existing licences, from 1 January 2021

FASEA releases October Exam Results

The overall pass rate of 76% may be attributed to several factors.

MAS On Track to Award Digital Bank Licences by Year-End

Menon also spoke of new developments in digital currencies, highlighting that CBDCs in particular can mostly help to solve problems associated with cross-border transactions.

FTSE Russell, MSCI Consult on Impact of China Sanctions

Under FTSE Russell’s normal policy, sanctioned securities would have to be deleted from its indexes.

Advisers and lawyers impacted by new claims handling licensing

The ASIC information sheet has been developed following the introduction of the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020 into Parliament earlier this month.

We're coming home: Grand Court Confirms the Primacy of Insolvency Proceedings in a Cayman Company's Home Jurisdiction

The Company’s restructuring proposal contemplated that proceeds from a “white knight” investor were to be used, amongst other things, to fund a creditors’ settlement and to invest in new business lines to enable the Company

MAS Announces 20 Finalists for the 2020 Global FinTech Hackcelerator

The Global FinTech Hackcelerator identifies innovative market-ready solutions to address real industry needs.

Korean Banks Move to Lower Lending Limits for Overdraft Accounts

Woori is said to have lowered the limit for its two key overdraft account products from the initial KRW 200 million and KRW 300 million to KRW 100 million in both cases.

Consortium of Japanese Firms to Test Digital Currency in April

The project aims to address a lack of interoperability between cashless payment applications, which remains a hurdle both for consumers and retailers.

AUSTRAC Reports on Fintel Alliance Efforts to Combat Criminal Threats

The report highlights work to protect individuals from criminal networks trying to exploit the Covid-19 pandemic such as through fraudulent claims on superannuation and government payments.

Singapore central bank unveils grant for developing green loan frameworks

“The grant will also encourage banks to develop frameworks so that small and medium-sized enterprises can access such financing more easily,” MAS says in a statement on November 24.

Hin Leong founder OK Lim denies HSBC's forgery claim

HSBC, Europe's largest bank, has the most exposure to Hin Leong at about US$600 million, the most among 23 banks.

AB Bank siphons Tk 236cr more

ACC finds 25 people involved

End of the road for advice qualifications

The paraplanning qualification will provide a benchmark qualification to raise the level of knowledge and skills to that of the Australian Qualification Framework level 6.

Bank of Japan's Kuroda says no immediate need to overhaul policy framework

Mr Kuroda also stuck to the BOJ's view that Japan's economy is on track for a moderate recovery, even as a recent resurgence in coronavirus infections cloud the outlook.

Uncertainty Ahead for Hong Kong Family Office Outlook

But questions over Hong Kong’s independence from a much more interventionist mainland China have grown in the last year as Beijing has taken a more strident approach to the city’s freedoms

FATF President Calls on G20 to Fully Implement AML Standards

Pleyer points to human, drugs, arms and wildlife trafficking, as well as corruption and terrorism, as some of the consequences of ineffective action against money laundering. “

Are asset consultants caught in the same ‘independent’ trap as financial advisers?

They pointed to Section 923(a) of the Corporations Act dealing with restrictions on the use of certain words and expressions and said that it did not expressly solely cover retail financial advice delivered to a financial adviser whilst excluding wholesal

Legal, Regulation & Compliance