Managers of Wealth Asia Pacific

Attacks on Trusts

Trusts are usually set up to protect assets from creditors’ claims

Jho Low had a habit of 'masking' offshore company names to sound like established companies, court told

The issue came about as Wan Aizuddin was questioning Shahrol on Abu Dhabi Malaysia Investment Company (Admic) Ltd, a company which was originally registered as Malaysian Abu Dhabi Investment Company on March 5,2013.

Trusts and Shari’a compliance

This is commonly referred to as 'forced heirship' and is most common within civil law countries and countries with Shari’a law in place.

1MDB scandal fugitives hiding in China: Malaysian police

The most prominent is Low Taek Jho - commonly known as Jho Low - a bespectacled, chubby financier known for partying with Hollywood A-listers and accused of being the scandal's mastermind.

MAS Announces Key Initiatives to Support SORA Adoption

It will also facilitate the adoption of SORA as a floating rate benchmark, provide a pricing reference for SORA cash products [2] , and spur hedging activities through the SORA derivatives market.

The Risk of Dealing with Your Assets Prior to Divorce

For some people, their reasons for transferring finances are completely innocuous.

DBS supports IRAS in digital payment implementation

IRAS now offers PayNow QR as a payment option on its myTax portal for all major tax types

PBoC Magazine Details Baoshang Bank’s Collapse

Suggestions for improving corporate governance and transparency include diversified shareholding structures, strengthened external supervision and better information disclosures.

Taiwan's BLF incurs loss as Covid-19 hits investments

The seven funds incurred an investment loss of NT$158.2 billion (US$5.38 billion) in the first half of 2020, shedding 3.43% through the six-month period, the BLF says in a statement on August 3.

Interpol Reveals ‘Alarming Rate’ of Cyberattacks During Covid-19

“The report’s findings again underline the need for closer public-private sector cooperation if we are to effectively tackle the threat Covid-19 also poses to our cyber health.”

Ex Coutts Banker Fined Over $700m 1MDB Transfer

Despite the unorthodox demand, the Coutts banker – identified as “A” – approved Low’s request to transfer USD 700 million from 1MDB to an account held.

Policymakers still Needed

Developed market equities returned 4.7% underperforming emerging markets which were up 8.4% led by that strong performance from China.

HSBC plans up to 3,000 new Asian jobs amid the global carnage

The first batch of 100 “digitally-enabled wealth planners” have been on-boarded in Guangzhou and Shanghai, and the “plan is to reach 2,000-3,000 planners by 2024”, according to Quinn’s presentation slides.

MAS Enhances its Significantly Rooted Foreign Bank Framework

Under the enhanced SRFB Framework, MAS will consider granting an additional full bank licence to an SRFB that substantially exceeds the SRFB baseline criteria.

How HSBC’s gamble on China failed to pay off

The group publicly backed Beijing’s controversial Hong Kong security law, angering critics in the west. Welcome to life on a geopolitical fault line, writes James Moore

Singapore introduces regulatory regime for insolvency practitioners as new law comes into force

Banking law expert Jia Lin Ho of Pinsent Masons, the law firm behind Out-Law, said the legislation was good news for businesses and practitioners.

China to extend grace period for asset management rules to end-2021

The grace period for implementation had been set for the end of 2020.

HSBC treads a fine line between angering China and alienating the west

The bank’s support for Hong Kong laws will see boss Noel Quinn in a tricky spot this week as he reveals its latest results

Islamic finance seen as driver for FDI inflow to Philippines, say govt officials

“Islamic banking will surely help Peza achieve its vision in promoting economic growth in the countryside,”

Regulatory, legal exam questions trip up advisers

A total of 10,239 advisers sat the exam in June - with the exam held online due to COVID-19 restrictions.

Legal, Regulation & Compliance