07/20/2020
Private jets, fast cars leave investors facing $100m wipeout
The empire of Michael Gu, a 32-year-old former mobile phone salesman, has collapsed as investors question his high-octane lifestyle.
Legal, Regulation & Compliance
07/17/2020
Benefits of Crown Dependencies trusts for Asian families
Ties between Asia and the Crown Dependencies have traditionally been strong
07/17/2020
Westpac found to be immature, reactive
The reassessment confirmed that Westpac was overly complex which results in confusion around accountability and challenges in execution
07/17/2020
Australia Woos Financial Capital and Talent in Hong Kong
Canberra announced last week that it would be offering assistance to Hong Kongers seeking to leave the city after implementation of the new and controversial law.
07/17/2020
Indian regulator in push for unbiased advice
Firms to segregate advisory and product distribution activities
07/17/2020
L&T to wind up West Asian wealth management unit after InCred deal collapses
The shutdown of the unit will have little impact on L&T Finance as the business accounts for barely 0.1% of its consolidated income and net worth.
07/17/2020
Maples Group Supports JD.COM and Netease On The Largest Hongkong Dual Listings Of 2020
The Maples Group's fund services business in Asia led by its Regional Head Eastern Fong and Vice President Christy Poon, provided Cayman Island Share Registrar support to both companies.
07/17/2020
HSBC Asia to cut back on internal expat relocations
The on-the-ground reality is that very few expatriations are now taking place, needing senior approval
07/17/2020
Seven years after Hong Kong Mercantile Exchange shuttered, former adviser to ex-city leader C Y Leung found guilty of fraud
Barry Cheung found guilty on Friday of conspiring to defraud the market regulator and another charge of fraud related to HK$30 million swindle
07/17/2020
Singapore units of CIMB Bank, Natixis claim fraud, fabrications in Asian oil-trading web
CIMB and Natixis said they paid Sugih a total of about US$192 million on behalf of Hontop for oil that Hontop promised it would sell on to BP, according to the filings.
07/16/2020
Harneys completes three initial public offerings in Hong Kong
With investors’ continuing interest in the Hong Kong stock market
07/16/2020
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
07/16/2020
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
07/16/2020
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.”
07/16/2020
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.
07/16/2020
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.
07/16/2020
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.
07/15/2020
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.
07/15/2020
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.
07/15/2020
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.