Managers of Wealth Asia Pacific

ASIC FAR, advice industry contract

The significant decline is likely a combination of natural attrition and also multitude of reforms impacting the industry at present such as education standards and changes to advice remuneration.

UAE, Hong Kong sign agreement on the mutual promotion and protection of investments

The agreement was signed by H.E. Younis Al Khoori, Undersecretary of MoF and H.E. Dr. Bernard Chan, Undersecretary for Commerce and Economic Development, Hong Kong, in the presence of officials from both sides

Diamond group credit fraud investigation leads Indian authorities to Macau

The former Winsome Diamonds Director has justified the default by stating that that the group’s customers in the Gulf region were hit by derivatives and commodities trading losses of US$1 billion and were unable to pay him.

Hong Kong, Singapore Cooperate on Personal Data Protection

We look forward to strengthening our working relations

Taiwan registers 44% surge in insurance complaints

Sales agents giving false information regarding policy coverage, guaranteed interest rates or regulations on premium payments made up the majority of non-claims-related cases, it said.

ANZ cleared of $50m fee bungle

It had provided the documented annual reviews from January 2014 to March 2018 to required clients and is expecting to complete remediation by mid-July for 1410 instances where annual reviews were not found to have been provided.

AMP Super, board slapped with licence conditions

The new directions will force AMP Super to renew and strengthen its board.

Monetary Authority of Singapore and UK financial authorities announce collaboration on cyber security

The collaboration will involve MAS and the UK financial authorities identifying effective ways to share information and exploring potential for staff exchanges.

Nomura and Nomura Research Institute Sign MOU to Establish Joint Venture Company

The joint venture will make use of blockchain technology to develop a platform for exchanging securities and other rights.

Noah receives advisory licences in Canada

With the new licences, the New York-listed Chinese wealth manager will be able to give financial advice to high net worth individuals and family offices in Canada.

Invest in Sharjah to hold 5th FDI Forum in November

The fifth edition of the event is expected to host 1,000 leading regional and global names from a multitude of industries, who will be deliberating on the future of FDI behaviour worldwide.

Pakistan austerity budget hikes tax target, ministers to take salary cut

As expected, defence budget has been retained at Rs1.15 trillion.

Citigroup unit suspended from Japan bond auctions for manipulation

The suspension comes days after the Financial Services Agency fined the firm 133 million yen (S$1.67 million) and ordered it to improve internal controls for failing to detect instances of manipulation of the Japanese government bond market.

Vanguard ties up with Ant Financial

The world’s second largest asset manager has set up a financial services joint venture with Alibaba affiliate Ant Financial, according to public records.

ASIC chases licensee over conflicted remuneration

Beginning civil penalty proceedings in the Federal Court yesterday, ASIC alleged The SMSF Club advised clients to set up SMSFs and then use the SMSF to purchase property marketed by Positive RealEstate, a firm The SMSF Club held a referral agreement with.

Legal, Regulation & Compliance