Managers of Wealth Asia Pacific

MAS Issues Guidance on Investment Suitability, Pricing in Private Banking

MAS expects financial institutions to benchmark themselves against the desired outcomes set out in the paper

Singapore Regulator Backs Coronavirus Relief Efforts

The regulator’s note follows a series of announcements made by major lenders to demonstrate financial flexibility and economic support for the city-state.

UBS AM brings three more funds in China

Separately, around 10 PFM products managed by foreign managers have less than RMB 5m ($715,000) in assets, according to a Z-Ben report.

Australian watchdog slaps lifetime ban on Macquarie adviser

Acworth is not of good fame and character to provide financial services

China’s monetary authorities to keep bank credits on tap to help companies survive the business slump caused by the coronavirus outbreak

Companies that can restart production as soon as possible will receive the support of the People’s Bank of China, to the extent that a “small increase” of non-performing loans owed to banks will be “tolerated”

OECD Equity Market Review of Asia

Today more than half of the world’s listed companies are from Asia.

Developments in Private Wealth and Estate Planning for People’s Republic of China Citizens and Residents

More than 80% of family enterprises in China are still controlled by the first generation of wealth creators and a massive transfer of assets to the second generation is just getting started.

ASIC relieves smaller not-for-profits and charities from whistleblower policy requirement

Given that not-for-profits and charities often operate under the structure of a public company limited by guarantee, concerns were raised that it would be too onerous to require these entities to comply with the mandatory whistleblower policy requirement.

McKinsey: Asian Banks Face Extinction

In the last few years, Asia has become a major engine of growth for the global banking industry, generating pre-tax profits in excess of US$700 billion in 2018 alone.

SMSF auditors in firing line

The regulator said he also issued an audit report in an incorrect form, and did not obtain signed financial statements.

DIFC Welcomes Maybank

Currently, Maybank Islamic joins more than 2,300 active registered companies that have chosen the DIFC as their preferred location of choice

Malaysia's largest Islamic bank launches first overseas branch in Dubai

With Dubai being a leading Islamic economic centre, it was timely for Maybank Islamic to be here to tap into the increasing demand for financing in the global halal economy"

POBA and CalSTRS establish a US property-focused joint venture

A CalSTRS spokesperson verifying the report with Asia Asset Management, notes that CalSTRS began to work with POBA in 2018

Tax exemptions granted for UAE sovereign infrastructure investments in India

In the future, other sectors may be identified for tax exemptions by the Indian government.

Australia: Corporate residency rules; issues arising under sole-incorporation test

The Board of Taxation opened a consultation concerning potential reforms to the corporate tax residency rules.

Creditors Swoop on Indian Tycoons’ Rolls Royce, Island Mansion

Some tycoons have held assets through arcane webs of holding companies, which has complicated creditors’ efforts to recover funds.

CFSGAM exit helps CBA bottom line

CBA’s past problems with respect to the Prudential Inquiry were mentioned in the ASX announcement with the bank confirming it had submitted 107 of 173 milestones.

SFC reprimands and fines BMI Securities, suspends its responsible officer

The SFC has also suspended BMISL’s responsible officer, Ms Maggie Tang Wing Chi, for five and a half months from 11 February 2020 to 25 July 2020 (Note 2).

Industry fund introduces new fee

"This fee will apply to the pre-mixed investment options and single sector investment options (excluding cash)," the fund said.

BIMB on track to complete listing status transfer to Bank Islam by August

The group is currently awaiting the relevant approvals from various regulators including BNM, SC and Bursa Malaysia

Legal, Regulation & Compliance