Managers of Wealth Asia Pacific

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.

Singapore introduces new AML rules for crypto

The activity-based and risk-focused regulatory structure allows rules to be applied proportionately and to be robust to changing business models.

Index Compiler Urges Inclusion of Chinese Big Tech

If these largest technology giants are the most traded stocks here, but then they are excluded from the Hang Seng Index, it will reduce the role of the Hang Seng Index as a benchmark of the market.

Philippine regulator releases corporate governance code

Although the code isn’t mandatory, the SEC says companies have to state reasons for non-compliance.

Conyers Celebrates 35 Years in Asia

Conyers’ Hong Kong office was opened in Exchange Square in June 1985

Allianz: Politics is Top Risk for Businesses in Hong Kong

Nearly $80 Million in Insurance Claims Linked to Hong Kong Protests

Bank of China Settles Money Laundering Case for $4 Million

The lender will pay a 3 million-euro fine and 900,000 euros in damages to French tax authorities to put the criminal allegations behind it

Legal, Regulation & Compliance