Managers of Wealth Asia Pacific

StanChart Couldn’t Tell Regulator How Some Rich Clients Got Rich

Dubai authorities found numerous source-of-wealth breaches

Justice minister's relative grilled for 2nd day over suspicious family fund

The fund invested more than 700 million won in Wealth C&T, a local lamppost switch manufaturer, two months after Cho became the senior presidential secretary for civil affairs in 2017.

Big Short investor targets Standard Chartered and HSBC in bid to cash in on Hong Kong crisis

Eisman, who made his name betting that the US housing market would crash just before the financial crisis of 2008-9, said both were bets on the ‘risks in Hong Kong’ and rising violence in the former British colony.

FCA and Hong Kong SFC – Addendum to MoU on funds recognition

The addendum is made pursuant to Article 11(1) of the MoU and aims to ensure that UK-Hong Kong mutual recognition of funds arrangement will continue to exist after the UK's withdrawal from the EU.

SFC bans ex-Hang Seng RM

Cheung also forged the customer’s signature on the bank’s instruction forms to facilitate the unauthorized transactions.

Lifespan Financial Planning throws weight behind advice industry fighting fund

Lifespan will top up this fighting fund with a total of 50% of the individual contributions made by its 180-strong adviser network.

Hong Kong unveils plans to repair damage inflicted by protests on its image as a financial hub

Other measures will include trying to attract more family offices to set up in the city to manage their wealth, Chan said.

SFC Fines HSBC HK$2.1m for Phone Recording Failures

One of the likely root causes of the incidents was said to be an inadvertent manual error made by a system engineer when performing routine system updates or configuration changes to the telephone recording system.

Singapore: New Platform Targets AML Risks in Trade Finance

Using data derived from permits issued by Singapore Customs, the TFC service allows financial institutions to reference such information to augment their checks for trade finance compliance.

Hong Kong regulator fines HSBC $2.1m for breaching phone recording standards

The SFC considered that HSBC has failed to put in place effective internal control procedures to ensure proper implementation of the telephone recording function and timely detection of any telephone recording failures.

Directors put on notice over climate change related disclosures

The hardwiring of climate change-related disclosure guidance in ASIC's regulatory regime marks a new direction for the corporate regulator, and follows a series of other milestones in the push to include climate change on the global regulatory agenda

UK Golden Visas snapped up by wealthy Hongkongers at unprecedented rate

Despite Brexit, 13 straight weekends of civil unrest in Hong Kong have prompted the region’s high net worth individuals to join their Mainland counterparts in buying their way into UK residency

Ogier named offshore law firm of the year at the Asian Legal Business Awards

This award is an endorsement of the excellent work our team is consistently delivering," said Ogier's Hong Kong practice partner Nicholas Plowman.

Hong Kong, China's measures to combat money laundering and terrorist financing

Hong Kong, China actively prosecutes money laundering from domestic offences.

National wealth fund ideas came out of Jho Low’s kitchen—former Najib aide

The TIA had sprung, as far as he understood, from a partnership between the Terengganu government and the federal government that aimed to generate funds via foreign investments.

Estate planning for Asian clients in the Cayman Islands and the BVI

Many of them are unaware that the probate process can be expedited with a BVI will, but have not been advised that forced heirship laws in their home jurisdiction may override a disposition by will.

Australia's Westpac faces fee-for-no-service lawsuit

The firm did not specify what damages it was seeking from Westpac

Australia's Westpac faces fee-for-no-service lawsuit

Westpac said it would defend itself against the civil Federal Court claim, which was filed against two of its subsidiaries by law firm Slater and Gordon Ltd on Wednesday afternoon.

India and Switzerland to share bank accounts data

Information on Indians with Swiss bank accounts will be disclosed for the first time

Global Impact Award: Hong Kong Monetary Authority

Among more traditional financial players, the central bank has encouraged incumbents to embrace new technology through the work of the Banking Made Easy task force.

Legal, Regulation & Compliance