Managers of Wealth Asia Pacific

Harneys completes three initial public offerings in Hong Kong

With investors’ continuing interest in the Hong Kong stock market

Sebi eases ownership rules for Gift City Exchanges

The announcement will increase confidence with large groups of investors and will re-emphasize the importance of Gift-IFSC as an emerging Global Financial Services Hub," said Khushboo Chopra head of business development - India Sanne

Why Hong Kong is the Ideal Place to Resolve Your Commercial Disputes

With an established and trustworthy English-Chinese bilingual legal system, Hong Kong is an ideal hub to resolve international disputes for foreign parties

FSDC Proposals to Advance Hong Kong as Family Office Hub

“This would not only benefit the financial services industry in Hong Kong, but also serve as a new growth driver for professional services.”

Tricor Welcomes New Laws That Amplify Hong Kong’s Role as Leading Asian Fund Hub

Hong Kong SAR has always been viewed as the regional headquarters by most Asian-focused funds.

MAS Issues AML Outsourcing Guidance for Capital Market Firms

From a series of thematic inspections of capital market intermediaries, MAS found that several capital market intermediaries failed to detect “major lapses” by service providers, which resulted in AML/CFT breaches.

Eximbank signs $100m sublease contract with African bank to boost bilateral trade, investment

The agency will co-host an online-based seminar on July 30 to provide information to African companies to help them expand trade with Korean counterparts by using the sublease contract.

China Watchdog Calls Kingold Banker Risk Controls «Empty Shells»

Chinese firms listed in the U.S. have been facing a bad run in the recent year with the Kingold gilded copper fraud following closely on the heels of accounting scandals at Luckin Coffee and TAL Education Group.

The Vital Future of the Relationship Manager in Asian Wealth Management

There are many ways in which the RM can be re-invented in the decade ahead, and many steps are already being undertaken to achieve precisely that.

AMP advisers low priority for ASIC

Those complaints were about the BOLR changes, AMP applying legislative changes to grandfathered commissions ahead of the legislated timeline and AMP issuing notices of termination to an estimated 205 planners.

Sustainable Supply Chains and the Role Banks Play

Minutella believes that non-financial corporations are about ten years behind banks in terms of their focus on KYC and due diligence. “

HK and UK-based boutique targets international clients

It has taken over Strabens Hall’s business in the SAR and works closely with the firm in the UK.

China Allows Foreign Bank Branches to Enter Fund Custody Business

The new rules, proposed in a May consultation, will allow local branches of foreign banks to apply for a fund custody licence, provided they satisfy qualifications on asset size and business experience, among other requirements.

Briefing on the national security law for the Hong Kong Special Administrative Region (HKSAR)

This follows a decision on 28 May 2020 by the National People’s Congress (the national legislature of the PRC) to implement a Hong Kong national security law.

Hong Kong Limited Partnership Fund Structure

The LPF will be registered if the Registrar of Companies is satisfied the application contains the necessary documents and information and the requisite application fee is paid.

Bridge Alliance, China Unicom and Singtel Strengthen Interconnected Platform Capabilities with eSIM Swap Collaboration

Collaboration will facilitate roll-out of IoT across Asia Pacific

Progress in the handling of banking complaints by HKMA

In June 2020, 282 cases were received and the handling of 199 cases was completed. As at end-June, the handling of 621 cases was in progress.

Top global banks risk breaching China law by complying with US

Retail and corporate banks with a big presence in Hong Kong such as Citigroup and HSBC could be more exposed to the risks from the bills especially on sizeable transactions done through local units, one of the people said.

China Warns of Surge in Bad Loans

In addition to weaker assets, the CBIRC also underlined the up to one-year lag in risk exposure due as banks can book interest income early even when actual repayment are delayed under new rules.

Woman jailed in $105m tax scam

The investigation revealed a group of people that used payroll services companies to divert pay-as-you-go withholding tax and goods and services tax owed to the ATO.

Legal, Regulation & Compliance