Managers of Wealth Asia Pacific

Carey Olsen up for best offshore law firm at Asia Legal Awards 2019

Winners will be announced at a ceremony at the Renaissance Harbour View Hotel in Hong Kong

China proposes a new consolidated law on foreign investment

The new draft law defines the different types of foreign investment and covers investment promotion, investment protection, investment administration and legal liability in respect of foreign investment.

IMF commends Hong Kong's strong buffers and prudent policy frameworks for ensuring continued stability

The IMF notes that Hong Kong's economy benefited from a strong cyclical upswing in 2017 and the momentum continued through the first half of 2018.

Australian Billionaire's Family Office steps up pressure in $55 million takeover bid

It also suffered a fall in comparable sales heading into December, down 3.1% in financial year to 25 November, with a fall of 4.9% in the last six weeks of that period.

KPMG and Deloitte under investigation for role in 1MDB corruption scandal

International auditors KPMG and Deloitte are being investigated in Malaysia for their role in the 1MDB corruption scandal.

Viet Nam to strengthen ties with Switzerland

Both sides agreed to select suitable projects to effectively use the financial resource

Unexplained Wealth Order Comes to Singapore

Individuals or companies convicted of such an offence face heavy fines and imprisonment (for individuals), on top of the seizure and forfeiture of the property in question.

Succession is the biggest challenge being faced by Indian Families

The need for succession planning has become more pressing with murmurs of the introduction of an estate tax levy gaining more and more noise.

Angola’s parliament approves elimination of double taxation with Portugal, China and UAE

Portugal’s parliament last week voted in favour of the motion to approve the Convention on the Elimination of Double Taxation in Income Tax and Preventing Tax Fraud and Evasion between the Republics of Angola and Portugal

Goldman, Citi Drop Chinese Peer-to-Peer Lenders After Crackdown

Their concerns mainly stemmed from the timing of the deals, with an uncertain outlook for P2P companies and a slumping market knocking down valuations.

Monetary Authority Of Singapore Stops Security Token Offering

The SFA specifically notes that a securities issuer does not have to register with MAS if "the offer is not accompanied by an advertisement making an offer or calling attention to the offer or intended offer."

New payment services laws passed in Singapore

New payment services laws have been passed by Singapore's parliament in a move that will streamline existing laws while bringing many new fintech providers into the scope of payments regulation for the first time.

South Korea’s POBA seeks managers for 120 million euro private debt mandate

POBA will accept applications until January 30, and hear presentations from asset managers in late February.

‘It’s a budget of the rich, by the rich, for the rich’

Tax evaders who are an economic menace to the society

S. Korean Regulator Fines Four Global Banks for Rigging FX Derivatives

The fines follow a local investigation by Korean authorities into the alleged illegal sharing of information between the four banks, and their collusion in price bids to win FX derivatives contracts from five Korean firms.

Southeast Asian central banks, multilateral groups ‘reassess’ crisis models

An “informal” regional network was also created yesterday, led by Bank Negara Malaysia Governor Datuk Nor Shamsiah Mohd Yunus and Bank Indonesia Governor Perry Warjiyo.

TD Bank takes down ads targeting South Asians after complaint about the word 'desi'

'62% of desi Canadians don't know how much to save for retirement,' one ad says

Bank Danamon, Bank BNP propose merger

Bank Danamon acts as a receiver bank in the merger.

Vivek Doval's Cayman Islands controversy widens with defamation complaints

The magazine claimed that Vivek Doval was running a hedge fund in the Cayman Islands.

Web of factors hamper Nepal's probe into offshore investment, money laundering | #AsiaNewsNetwork

Businessmen exploiting legal loopholes while channelising illicit cash into the country

Legal, Regulation & Compliance