Managers of Wealth Asia Pacific

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.

Global public debt to reach 101.5% of GDP: IMF

It said fiscal policy will need to remain supportive and flexible until a safe and durable exit from the crisis is secured.

India's Yes Bank to raise $2b via public offering

Bank is plotting next stage of its turnaround narrative through this move

How China’s Greater Bay Area wealth management connect could help millionaires move their money across borders

Cross-border banking partnerships seen as key to implementation

BSP ready to work with German regulators

Diokno has assured the local markets previously that the two local banks tagged in the Wirecard scandal

MAS Consults on Environmental Risk Management Guidelines for Insurers and Other Financial Institutions

This Legal Update will focus on the Guidelines as they relate to insurers.

Suspected fraudulent website : http://www.macauoscuhk.com

The HKMA has referred the case to the Hong Kong Police Force for further investigation.

Banks Readying for U.S.-China National Security Law Crossfire

Chinese banks were also reviewing internal operations and, in some cases, planning for the worst-case scenario possible from the new regime.

Indian bank PNB reports $491 million DHFL loans as fraud

Other banks including State Bank of India BOI.NS and Union Bank UNBK.NS have also reported DHFL's accounts as fraudulent.

Financial institution charged over Epstein scandal

In each of the cases that are being resolved today, Deutsche Bank failed to adequately monitor the activity of customers that the bank itself deemed to be high risk.

China Banking Regulator Names and Shames «Illegal Shareholders»

Another 10 companies were linked with Chengdu Rural Commercial Bank, controlled by Wu Xiaohui, the former chairman of the once high-flying Anbang Insurance who was sentenced in 2018 to 18 years for fraud, corruption and embezzlement.

Legal, Regulation & Compliance