Managers of Wealth Asia Pacific

Thailand's SCB and FWD strike $3bn insurance unit deal

The partnership look to combine SCB's large customer base and distribution network with FWD's innovative product propositions and strong digital capabilities.

Aberdeen Standard Gets China Onshore Advisory License

, securities and futures companies, fund management companies, as well as other types of asset management firms in China, the firm said in the statement.

MAS Propose to Relax Requirements for Singapore REITs

One MAS proposal is to allow REITS to take on a higher leverage if they meet an additionally minimum ICR (interest coverage ratio) requirement, which measures a REIT’s ability to service its debt obligations from its regular income.

PNG PM rejects Australian judge for UBS inquiry

Mr Marape late last month announced a Commission of Inquiry into the $1.2 billion borrowed by the Pacific nation from UBS, a move that could subject the Swiss bank's Sydney office and law firms Norton Rose and Ashurst to fresh scrutiny.

JPMAM to pay hefty premium to control China asset manager

Under Chinese regulations, a public bidding process is required for 49% owner JPMAM — which has publicly expressed its interest in acquiring a majority stake in the joint venture — to acquire an additional 2% stake from 51% shareholder SITCO.

“Most Banks” Support RBNZ Bank Capital Proposal

“Cautious reaction from some is expected, but it’s worth noting that many submitters, particularly from the general public, support the proposed higher capital requirements for banks,” the RBNZ said.

ASIC to offer AFSL relief to overseas firms

ASIC said the proposals reflect industry feedback that "there is a need for Australian professional investors to access funds management financial services providers outside Australia"

BOJ Publishes Consultation on JPY Interest Rate Benchmarks

The Committee has discussed two approached for the per permanent discontinuation of JPY LIBOR.

Ex-Goldman exec banned for life in HK

For involvement in the 1MDB scandal, Tim Leissner also has a lifetime prohibition on entering Singapore’s financial industry.

China plans early end to foreign ownership limits

The abolition of ownership restrictions for foreign investors in the financial sector will happen in 2020, a year earlier than scheduled, says China premier Li Keqiang.

Retirement age increase inevitable, but more should be done

An incremental three-month and four-month rise will be added to the retirement age for men and women, respectively, each successive year.

Bank Indonesia looking for right time to cut rates

Governor Perry Warjiyo has said a rate cut is just a matter of timing and officials are watching the economic data closely.

Australia's top lenders decline to pass on central bank rate cut in full to customers

As expected, the Reserve Bank of Australia lowered the policy rate by 25 basis points

Important changes to China's individual income tax law

Significantly, the new regulations also affect foreign workers based in China.

State Street cops $125m penalty

The overcharges included a secret markup that State Street attached to the cost of sending secured financial messages through the Society of Worldwide Interbank Financial Telecommunication network.

China to Remove Foreign Ownership Limits a Year Early

China began allowing foreign firms to apply for up to 51 percent ownership in financial sector joint ventures, a controlling stake, which already represented efforts to open up.

Singapore to issue up to five digital banking licences

"The move announced today extends digital bank licences to non-bank players," MAS says.

UBS Rejects Accusations From Papua New Guinea

UBS welcomed the move by the new PM, the bank said in a statement.

Maples Group Selected to Support Groundbreaking Indo-Japan Fund

The unique strategic intent of the Fund is to combine the core strengths of both countries to provide large investors with access to source ideation and technology, as well as to provide a platform for collaboration and strategic investment in start-ups.

Atlas Wealth Management expands to Dubai with DIFC office

"The new office in Dubai is a testament to our commitment to the Australian diaspora when it comes to providing them world class financial advice" said James Ridley, managing director, APAC.

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