Managers of Wealth Asia Pacific

Federal Reserve Board permanently barring senior executive at Goldman Sachs from banking industry

Low was a person of known concern to Goldman, and his involvement indicated heightened potential underwriting risks.

Two ex-senior lawyers from Clifford Chance's Singapore ally form boutique

Former Cavenagh Law managing partner and counsel pair up to set up Audent Chambers

Citi Singapore to Shut Iconic Branch

MacDonald House, situated across the road from Dhoby Ghaut MRT station, was initially built for a bank.

Deutsche Bank renews partnership with SimCorp to deliver fund services across Asia Pacific

Deutsche Bank’s renewal agreement will cover 12 markets and will support its growth in the region which converges with the Asian asset management industry’s ‘hyper growth’, set to reach USD 112 billion by 2025*.

NPS short on time for March proxy season

“The formation of subcommittees is now underway. But we are not sure when we could conclude the process."

AMP to pay $5m for churn

It also saw the advisers receive higher commissions than they would have by simply transferring the policies.

National Security Review Regime Under The New Foreign Investment Law

The detailed operating rules on the NSR regime under the FIL have yet to be released.

China extends onshore fund launch limit

There are around two dozen foreign PFM licence holders that have launched 64 onshore funds as of 3 February this year, according to Amac records.

Regulatory Challenges of Wealth Management in Asia

In Hong Kong, the Securities and Futures Commission has set out a product due-diligence regime that requires distributors to have a clear understanding of an investment’s features before marketing and distributing it to a client.

Asset manager to be liquidated

ASIC said its investigation into the financial services company is ongoing, and did not provide further details.

Fund managers pay the price for unjustified opposition to supervision order

The public importance argument was rejected on the basis that no public interest had been engaged

Mindful Wealth Successfully Completes VCC Pilot Programme With MAS

The fund management department manages the mutual funds of the company, according to a press release by the firm.

Move to give 80 per cent of Vietnamese access to basic financial products and services

The number of non-cash transactions is also expected to increase by 20-25 per cent annually and insurance premium income to reach around 3.5 per cent of GDP by 2025.

What if Islamic banks undertake risk-sharing finance?

While debt contracts shield the bank from the underlying business risk, they also prevent banks from benefitting from the upside potential

Pension minimums ‘nudge’ retirees to spend less, not more

According to UNSW’s Professor Hazel Bateman, one of the paper’s authors, the finding contributes to the broader issue of retirees’ reluctance to spend their savings.

Westpac facing new class action

The lawsuit also alleged Westpac did not pass on requisite information about the source of funds to other banks in the transfer chain.

One quarter of bank branches in Hong Kong close

Fund sales will likely be impacted due to the negative investor sentiment resulting from the coronavirus, according to the HKIFA.

Singapore’s Payment Services Act Comes Into Force

“The new PS Act will enhance the regulatory framework for payment services in Singapore, strengthen consumer protection and promote confidence in the use of e-payments,” MAS said in its Tuesday statement.

Appleby named Law Firm of the Year at Citywealth IFC Awards

Appleby awarded “Law Firm of the Year – Litigation” and named as a runner up for “Law Firm of the Year – Hong Kong & Singapore”

Phishing email related to Bank of Taiwan Hong Kong Branch

Hyperlink to the press release is available on the HKMA website for ease of reference by members of the public.

Legal, Regulation & Compliance