Managers of Wealth Asia Pacific

Prodigy folds, two boutiques to shut

The responsible entity, Equity Trustees, is considering alternative arrangements for Flinders.

Philippine Markets Shut, Central Bank Promises Regulatory Relief

A US-listed ETF that tracks the Philippine market fell by a record 19.5 percent on Monday after the closure was announced, adding to the more than 30 percent drop Philippine equities have seen so far this year.

Japan Unveils New Foreign Investment Rules for Consultation

The 12 “core” sectors designated as having potential national security concerns include weapons, aircrafts, nuclear facilities, space, dual-use technologies, and parts of cybersecurity, electricity, gas, telecommunications, water supply, railw

Coronavirus: Remote working for financial services

It’s an unprecedented situation with a large proportion of the global workforce now working from home in an attempt to delay and contain the virus.

Monetary Authority Announces Countercyclical Capital Buffer for Hong Kong

The HKMA has been taking actions, including the establishment of the Banking Sector SME Lending Coordination Mechanism, to encourage the banking sector to continue supporting the financing need of SMEs in Hong Kong.

MAS Revises Code on Collective Investment Schemes

The new Code also introduces a general best interests duty for all CIS managers in Singapore: “The manager should, at all times, act in accordance with the constituent document of a scheme and in the best interest of participants.

J.P. Morgan and Macquarie Expand Work-From-Home

We are actively reviewing how we can best support you at this time,» the group said in an internal memo.

CBA in court over RC case studies

It also alleges CBA breached sections 131(1) and 133(1) in failing to assess that the credit limit increase was unsuitable and in subsequently providing the credit limit increase.

PBOC Announces Second Reserve Requirement Cut of 2020

The central bank has been encouraging banks to lend more to small firms and other vulnerable sectors, and to tolerate late payments

Appleby Advises Infrared NF On Its USD45.9 Million Financing Investment In China

The team advised InfraRed NF on the debt and security structure from a BVI and Cayman Islands law perspective and assisted them throughout the transaction as offshore counsel.

Health crisis should not be allowed to morph into a banking crisis

Fiscal and monetary measures by authorities aimed at counteracting stuttering or contracting economies will end up coming back to haunt the banks

Wirecard and Grab Announce Payments Partnership

Through this partnership, Wirecard will process card transactions for GrabPay via its digital financial commerce platform and will extend GrabPay to more merchants to expand the acceptance of the mobile payment method.

Financial adviser pleads guilty to multi-million fraud

‘Many victims lost their retirement savings and are not in a position to recover financially’

Singapore Financial Markets Functioning Well Despite Heightened Volatility

The nominal effective exchange rate of the Singapore Dollar has eased in an orderly manner within the MAS policy band, in line with weakening economic conditions.

Kyobo Securities freezes withdrawal from overseas fund, stokes fund scare

WBL still operates as normal despite liquidity problem, it added, and the company has opted to agree on the withdrawal suspension for fear of rising uncertainty before redemption.

Philippine pension SSS inks pact to provide insurance for pensioner loans

Borrowers cannot be more than 85 years old by the end of the repayment period, and must not have any other outstanding loan with the SSS.

Nair & Co, PK Wong & Associates merge to form full-service law firm

The new entity, which now has a total of 23 lawyers

Hong Kong resurrects Chapter 11-style corporate rescue bill after a 24-year hiatus as Singapore powers ahead with reforms

The government plans to finalise its proposal and potentially table a bill during the legislative session beginning in October, official says

ASIC Finalises New Licensing Framework for Foreign Firms

From 1 April, new foreign providers may apply to obtain a ‘foreign AFS’ licence to provide financial services in Australia to wholesale clients

South Korea's Central Bank Burns And Quarantines Cash

The Bank of Korea said it is also putting currency notes through a high-heat «laundering» process before releasing them for circulation.

Legal, Regulation & Compliance