Managers of Wealth Asia Pacific

ATO clarifies SMSF death benefit income streams

Therefore, if the pension ceases because the minimum amount hasn't been paid, the trustees may have contravened the Superannuation Industry (Supervision) Regulations 1994, the ATO warned.

HKMA Delegated Powers to Inspect Banks’ Insurance Business

The HKMA supervises AIs (authorised institutions) – i.e. licensed banks, restricted licence banks and deposit-taking companies – in accordance with the Banking Ordinance.

China Announces 11 Measures to Open Up Financial Sector

The policy measures were unveiled after a high-level meeting on Friday (19 July) chaired by Vice Premier Liu He.

China Opens Up Financial Sector to More Foreign Investment

China’s economy growing at the weakest pace since at least ’92

The new world of virtual banks: profitability will define success

The new age of virtual banks and how it can be more future ready

China Issues New Rules for Distressed Asset Fund Managers

Under the new rules, local AMCs are required to price bad assets in a “market oriented manner” whereby fair market pricing and valuation procedures should be used when disposing of NPAs, to ensure both assets and risks are transferred in a &am

US Senate ratifies protocols to tax treaties with Japan, Switzerland, Luxembourg

Like US-Spain protocol, all three tax treaty protocols easily cleared the two-thirds vote threshold for ratification.

Ex-J.P. Morgan Banker Pleads Not Guilty for Sons And Daughters Hires

Prosecutor Proposed To Merge Cases

Paul Hastings Continues to Lead the Way in Chinese City Commercial Bank Listings in Hong Kong

The Paul Hastings team was led by Raymond Li

Philippine pension fund SSS to pay job loss benefits to members

The exceptions are for underground mine workers and racehorse jockeys, where the age limits are 50 and 55 years, respectively.

Australia's regulator to ban cold calls from insurance companies

ASIC Commissioner Sean Hughes said the corporate regulator was determined to step in when consumer trust in "the system" was under threat.

The rise of alternatives

Many have started to ask AIFMs to add further value through select services, expand their skills set and get involved in the sales process.

Australian watchdog revokes licence of Golden Financial Group

Golden Financial failed to lodge its annual financial reports and did not have membership of an external dispute resolution system.

Nomura to Pay Misled Bond Customers $25 Million to Settle SEC Charges

The SEC’s orders further find that Nomura lacked compliance and surveillance procedures that were reasonably designed to prevent and detect this misconduct, which inflated the firm’s profits on CMBS and RMBS transactions at its customers.

CapBridge and UOB sign agreement to provide companies across Asia

Through its investment syndication platform, CapBridge will match UOB’s clients with anchor investors and accredited co-investors, catalysing private capital as a source of funding and helping these companies to broaden their investor base further.

Combating financial crime - KPMG

3 focus areas for banks to achieve more effective and efficient customer due diligence

AMP's controversial life insurance deal could now be worth even less

More to the point, regulatory clearances were pre-conditions for the settlement of the deal with Resolution.

SEBI investigates State Bank of India over breach of corporate compliance

This is due to the fact that multiple directors are both government and banking-regulator nominated.

Indonesia central bank seen starting to cut rates before Fed moves: Reuters poll

In the poll, 23 of 33 analysts predicted BI will make a 25 basis point trim in the benchmark 7-day reverse repo rate to 5.75% - which would be the first cut since September 2017 - on Thursday.

Merrill Lynch fined W175 mil. for high-frequency trading

The securities firm used algorithm-based trading through direct market access.

Legal, Regulation & Compliance