Managers of Wealth Asia Pacific

Vietnamese banks see exodus of foreign partners

It said it was under pressure to cut costs after suffering losses in emerging markets.

Insurance industry wants IFRS 17 adoption deferred

IFRS norms like risk-based capital framework is necessary to assess the financial strength of a company.

RBI Issues Finalised Guidelines on Market Abuse

The RBI also said market participants, either acting independently or in collusion, shall not undertake any action with the intention of manipulating the calculation of a benchmark rate or a reference rate.

Asia Gets Tougher on Auditors After High-Profile Defaults

In China, a spate of defaults has raised concerns over the quality of financial reports.

Asia getting tougher on auditors after high-profile defaults like that of Noble Group

Those incidents have prompted investors and regulators in Asia to look back on where they might have picked up more clues that trouble was brewing, adding to broader scrutiny of auditing firms elsewhere in the world.

Australia's CBA suspends $4b wealth management spin-off

CBA is spending A$1.46bn on refunding customers and remediating issues linked to misconduct, with A$1.2bn of this related to its wealth businesses.

Hong Kong's SFC fines UBS and suspends its licence for 12 months

The SFC has also taken action against other joint sponsors involved in the listing applications of China Forestry and Tianhe.

SFC reprimands and fines Standard Chartered Securities $59.7 million for sponsor failures

The SFC also found that the records of the interviews were seriously inadequate.

SFC reprimands and fines Morgan Stanley Asia Limited $224 million for sponsor failures

Morgan Stanley did not have direct contact with Tianhe’s customers for the purpose of setting up due diligence interviews or confirming the mode and place of the interviews.

Swiss regulator probes UBS Australia's $1.2b PNG loan

NG lost at least three times that amount as Oil Search shares fell sharply and the government was forced to sell out.

Australia to publish pension fund ratings, pressure underperformers

The sector is under pressure to lift standards and improve accountability following a public inquiry last year which exposed widespread misconduct in the financial industry.

Dubai and Hong Kong to forge strong investment, trade ties

Dubai FDI and HKTDC also agreed to cooperate on trade and economic information sharing; provide support by facilitating network platforms for companies keen to expand business in both markets; and extend support and assistance to visiting delegations seek

Rejuvenated APRA asserts authority

The pending passage of a key Bill to strengthen APRA's enforcement powers however is hampering its new initiatives.

Who's Who Legal: Aviation 2019 names Mourant Partners as 'leaders in their fields'

The firm continuously works on many of the most high profile and complex aviation transactions in the market

Banks, ASIC still at war over fees-for-no-service

ASIC said it strongly disagreed with the approach of those licensees, citing how CBA used customer responses to questionnaires as evidence of service delivery in some cases.

Macau | City stays off EU tax haven list

Macau has managed to stay off a tax haven list established by the European Union by complying with OECD standards

RBNZ bank capital proposals appear quite sensible given the unique New Zealand banking market structure, Deutsche Bank analysts say

The Deutsche analysts also note changes by the Australian Prudential Regulation Authority (APRA) to its related parties framework, prudential standard APS222.

Legal, Regulation & Compliance