Managers of Wealth Asia Pacific

Philippines brings in new rules on crypto assets

Under the rules, all DATOs must have proper offering documents with pertinent details on the issuer, project, and accompanying advice and certification of experts and DA agents.

Vietnam to Rank Domestic, Foreign Financial Institutions

According to a local media report, credit institutions and foreign bank branches will be classified in five groups

Under new agreement, Indonesia can track ill-gotten wealth in Switzerland

Under the MLA, it opens up the possibility [for Indonesia] to seek help in tracking wealth, determining the amount and repatriating it to Indonesia.

Govt to hunt tax evading Pakistanis in Russia, Turkey

One of the important decisions was to immediately establish contacts with Russian and Turkish tax authorities to get information about Pakistanis who have assets in these two foreign jurisdictions.

Offshore Havens, Secrecy and Due Process of Law- I

Rest of the citizens figured in the list could only ‘quake in their boots’ momentarily upon receiving innocuous sounding notices from the Federal Board of Revenue.

Australia Solicits Comments on Regulatory Framework for ICOs

The paper is seeking views from interested parties on the opportunities and risks posed by ICOs for Australia, and whether the regulatory framework is well placed to allow those opportunities to be harnessed whilst appropriately managing the associated ri

BSP Eases Licensing for Banks Seeking Special Authorities

Type A licence activities include the establishment and sale of branches or branch lite units, equity investment in allied and non-allied undertakings, trusts and other fiduciary business.

Freedom Insurance suspends trading

The board of the embattled insurer decided to search for alternative business models after a strategic review headed by Deloitte found new sales of its life products are no longer viable.

FASEA makes adviser exam adjustments

FASEA has also said it will consider adding further exam centres in 2020 for relevant providers located in regional areas, dependent on adviser interest and facility availability.

Chief economist update: The RBA capitulates

Over the past year, the next-move-is-up scenarios were more likely than the next-move-is-down scenarios. Today, the probabilities appear to be more evenly balanced."

MAS named central bank of the year

London-based journal cites its fintech efforts, and consistency in monetary policy and supervision

HKMA’s Regulatory Expectations of Remote Customer On-boarding

The HKMA has noted that some authorised institutions have started to on-board individual customers remotely through electronic channels and others are exploring such options, the circular says.

AMP punishes past executives, defends vertical integration

“The proposed regulatory changes will require serious and determined effort to implement but, with the support of industry, should deliver better outcomes for customers,” Murray said.

SFC seeks to halt "rolling bad apples" in their tracks with licensing reforms

New licensing forms will be introduced on 11 February 2019.

Australia vows to clean up financial sector after landmark misconduct inquiry

Royal Commission reveals fees charged to accounts of dead people and cash bribes

Hong Kong's Securities And Futures Commission Revokes W. Falcon Asset Management (Asia) Limited’s Licence

Falcon window-dressed its month-end liquid capital by including in its liquid capital computation the amount of certain cheques, which were subsequently dishonoured.

Australian Prudential Regulation Authority Responds To Royal Commission Final Report

APRA has acknowledged the importance of this, and will continue to build expertise and capacity devoted to these issues.

PBOC Sets Up New Bureau to Oversee Financial Regulation

The new macro-prudential management bureau has been tasked with constructing a coordination mechanism among development plans, fiscal policy and financial policy; promoting economic monitoring; and improving policy research, the commission said in a state

Malaysia regulator unveils rules for digital asset platform operators

SC Chairman Syed Zaid Albar says the framework is part of the regulator’s efforts “to promote innovation while ensuring investor protection in the trading of digital assets".

Australian regulator vows to tackle ‘cosy oligopoly’ of big banks

More competition and sense of ‘threat’ seen as best way to compel better conduct

Legal, Regulation & Compliance