Managers of Wealth Asia Pacific

APRA releases 2023 superannuation performance test results

This year’s test was expanded to evaluate the performance of 805 “trustee directed products”

Mirae Asset Securities Claims Allegations of Lime Fund Favoritism Belong to Asset Manager

Mirae Asset Securities will actively cooperate in the event of investigation assistance or data requests.

SEBA Hong Kong Awarded Approval-in-Principle

SEBA is set to become the first licensed corporation in Hong Kong with crypto capabilities backed by a Swiss crypto bank, SEBA Bank providing it with the platform to operate regulated activities in virtual assets.

Standard Chartered announces sale of its global aviation finance leasing business to AviLease

The Consideration is subject to adjustment with reference to the net asset value of the business at completion.

Rising costs and regulation to drive SFO consolidation wave

With requirements on single family offices becoming more onerous for smaller players, a growing number are looking at joining multi-family offices or considering alternative structures to cut costs.

Website Alert – Fraudulent website related to CMB Wing Lung Bank Limited

The HKMA wishes to remind the public that banks will not send SMS or emails with embedded hyperlinks which direct them to the banks’ websites to carry out transactions.

Financial authority finds cartel in probe involving asset management firms

They have been continuously suspected of having direct or indirect connections with influential figures of the previous administration.

Regional Payment Connectivity Expansion to Include State Bank of Vietnam

The RPC initiative was established to strengthen and enhance collaboration on payment connectivity through the development of faster, cheaper, more transparent, and more inclusive cross-border payments.

SFC issues quarterly report

It allows investors of Mainland bonds to hedge interest rate risks from Hong Kong.

Munich Re targets AMP over alleged reinsurance misconduct

Allegations suggest that AMP and its associated entities may have acted in a misleading or deceptive way in respect to these agreements.

Malaysia May Sue Goldman Sachs Over 1MDB Scandal

Now, Anwar has come out to say that a legal pursuit has not been ruled out.

Iress enters into binding agreement with SS&C to sell its MFA business

The Transaction follows the announcement of Iress’ refreshed strategy in April, which included a refocusing on Iress’ core businesses while managing non-strategic business for value and releases of capital.

ASIC cracks down on former adviser, comedian

ASIC is investigating fees charged to the super funds of Valvo's former clients between January 2015 and September 2021.

Hong Kong Partner Vivien Fung shortlisted for Women in Business Law Awards APAC 2023 Offshore Lawyer of the Year

Vivien has been recently recognised as a “Highly Regarded” lawyer in the 2023 edition of IFLR1000.

Zhongrong Part-Owner Hired KPMG to Review Balance Sheet

Meanwhile, Zhongzhi is also planning to restructure debt and sell assets after the review to repay investors.

Philippines central bank keeps interest rates unchanged at 6.25%

The monetary board recognised the challenging outlook for economic growth

ASIC proposes five-year extension to DDO

The regulator said it intends to extend the operation of the instrument to retain certainty for industry ahead of potential law reform.

Taiwan Urgently Flags China Risks to Insurers

In addition, the insurers were also asked about the market impact from the recent US downgrade.

Key takeaways from draft data regulation issued by China’s CB

PBOC issues the draft Regulation on Data Security Management for PBOC Business Areas for public consultation until 24 August 2023.

MAS Finalises Stablecoin Regulatory Framework

The regulatory framework takes into account feedback received, following an October 2022 public consultation.

Legal, Regulation & Compliance