Managers of Wealth Asia Pacific

Singapore central bank, partners create DvP prototypes for tokenised assets

MAS and SGX unveiled news of the prototypes in a joint statement on November 11, less than three months after the five-way partnership was announced on August 24.

Korea Post Insurance seeks managers for US$150 million Chinese equity mandate

Applications for the China equity mandate will be open until November 16

Maybank Asset Management and Schroders enter strategic partnership targeting Malaysian wealth market

Collaboration draws on strengths of two powerhouses, to co-develop range of specialist investment solutions

Astana Financial Services Authority, Astana International Financial Centre Authority and Monetary Authority of Singapore sign Co-operation Agreement to boost fintech ties

The Cooperation Agreement was signed by Mr Mukhtar Bubeyev, Acting Chief Executive Officer of the AFSA, Mr Nurlan Kussainov, Chief Executive Officer of the AIFCA, and Mr Sopnendu Mohanty, Chief FinTech Officer of MAS.

MAS introduces new FEAT Principles to promote responsible use of AI and data analytics

The Committee is co-chaired by MAS Chief Data Officer, Dr David Hardoon, and Mr Hsieh Fu Hua, Co-Founder and Advisor, PrimePartners.

Inter-American Development Bank Group and MAS collaborate to promote inclusive financial services

We are happy to welcome participants from 15 countries in LAC to the Singapore FinTech Festival this year.

How Goldman’s high-flying Italian partner was embroiled in scandal

Andrea Vella was placed on leave by the bank after being caught up in the 1MDB affair

DOJ indicts Rappler, founder Maria Ressa for tax evasion

Ressa, meanwhile, is being held liable for the infractions as she was the president of the RHC at the time of transaction – following Section 253 of the Tax Code.

Big relief for Deloitte, PwC, EY and KPMG as govt panel allows permission to operate in India

The government had formed a committee to look into the complaints made by an Indian firm where they argued that the foreign firms were apparently flouting norms and gaining an undue advantage.

Australian Court Orders A$3.3mn Penalty for Westpac BBSW Misconduct

The penalty is far less than the combined A$125mn that NAB, ANZ and CBA paid to settle their own BBSW cases with ASIC out of court.

Hong Kong Court of Final Appeal clarifies “innocent purpose” defence to insider dealing

Overturning the rulings by the MMT and the Court of Appeal on the applicability of the defence, the CFA held that Mr Yiu and Ms Wong could not rely on the defence as they sold their ATML shares taking advantage of their knowledge that the prices were sign

Asia Region Funds Passport: What You Need to Know

The five countries currently participating in the scheme are Australia, Japan, South Korea, New Zealand and Thailand.

Hong Kong takes the first step in regulating managers and distributors of virtual asset funds

This client alert describes the new regime and the action that should be taken by managers and distributors of virtual asset funds in Hong Kong.

Japan to consider easing M&A rules as regional banks struggle

The plight of regional banks has become a headache for the BOJ, which is drawing criticism for hurting financial institutions' profits by keeping interest rates virtually at zero for years.

Troubled Suruga Bank set to post huge loss, sue former execs

But the bank inflated the assets of the would-be owners when processing their loan applications.

Huarong's ex-chairman accused of taking bribes of RMB1.65b

Huarong officials didn't reply to an e-mail seeking comment, and the China Banking and Insurance Regulatory Commission also didn't immediately respond to a fax seeking comment.

Japan’s Shinsei Bank, Nippon Wealth Form Business Alliance with Blockchain Startup ConsenSys

The alliance between the four entities will focus on exploring the use of ConsenSys’ decentralized applications (DApps) to develop new financial products and services, with Nippon Wealth spearheading a study of blockchain infrastructure and protocol

China proposes new rules to expand the share repurchase regime for listed companies

The proposals also provide for the list of permitted circumstances for share repurchases to be expanded in the future where specified in new laws and regulations.

Appleby Celebrates Success at Asia Women in Business Law Awards

The awards also support the Women’s Foundation with all proceeds raised going towards improving the lives of women and girls in Hong Kong.

Nomura and ICBC Sign MOU to Consider Business Alliance

The impact on Nomura Holdings’ consolidated performance is expected to be minimal.

Legal, Regulation & Compliance