Managers of Wealth Asia Pacific

Westpac to pay $9.5m for Corps Act breaches

It determined Westpac to be directly responsible for the breaches of the best interests obligations by Sinha under section 961K of the Act.

A Banker Drew Macquarie Into a German Tax Scandal. It Became a Costly Bargain

“Macquarie should have said ‘thanks but no thanks’”

Platinum Asset Management sues Mayfair Platinum

The action is a headache for Mr Mawhinney’s Mayfair 101 group, which exploded on to the scene several months ago by acquiring Dunk Island for $31.5 million as part of a plan to purchase another $150 million in properties around North Queensland&

Citibank officer jailed for misappropriating more than $35,000

The banking sales officer took money from customers to pay debts, expenses

Indonesia, UAE sign many economic cooperation deals

The two countries have explored plans to establish SWF of up to 10 billion USD since September to finance infrastructure projects in this biggest economy of Southeast Asia.

Concerns over cancelled ASFL complaints

ASIC said on the information currently available, it does not know if there is a link between the entity provoking the complaints to AFCA and the formerly licensed Australian entity.

Chinese Regulators Approve J.P. Morgan Securities Venture

We will continue to invest in and fully support our business in the country, which has become a critical market for many of our domestic and global clients

ASIC consults on guidance for the new product design and distribution obligations

The legislation has provided a two year transition period for industry to meet the new design and distribution obligations.

ASIC updates internal governance and accountability frameworks

The framework articulates how ASIC’s Commission collectively exercises its functions and powers to deliver ASIC’s statutory objectives.

Asic takes court action against NAB for fees for no service and fee disclosure statement failures

It is also ASIC’s case that NAB engaged in unconscionable conduct from at least May 2018 by continuing to charge ongoing service fees to certain customers when it knew that it had not delivered the services and had issued defective FDSs or at least

Howden partners with Guardian Brokers to boost Middle East presence

Together with Howden’s international network of partner brokers, the group’s TMEA region now encompasses 17 territories, it said.

Ex-Goldman Sachs director charged in US over 1MDB role

The SEC has issued a penalty of $43.7m in accordance to a separate forfeiture order

Japan's GPIF seeks lawyers to advise on private market investments

GPIF has been using private investment legal advisory services since 2015, a year after it ventured into alternative investments.

Industry veteran arrested

He has been charged with six counts of possession of child abuse material and was granted strict conditional bail.

AMPFP ceases MDA services

AMPFP ceased providing MDAs on December 10.

NAB Sued for «Fees for No Services»

The customer may not therefore have been provided with the opportunity to know whether they have received the services for which they have paid or the amount of fees charged to them.

Bank of England says Hong Kong unrest led to $6.7 billion exodus from funds

The Bank of England is particularly concerned by events in Hong Kong because of the outsized exposure of British banks.

Asian financial firms face 'benchmark-aggedon' as tough EU rules near

Organisations that compile and publish market indexes outside the European Union were in February given an extension to the end of 2021 to comply with the EU’s benchmark regulation.

Nomura Signs Final Agreement for Comprehensive Business Alliance with San-in Godo Bank and Gogin Securities

The alliance is subject to regulatory approval, respective company-related approvals and the signing of other necessary agreements.

Philippine court dismisses case seeking $3.9b of Marcos wealth

Country's anti-graft court decided in favour of the Marcoses for the 4th time since August

Legal, Regulation & Compliance