07/27/2023
ASIC appoints Morgan Stanley to sell shares in The Market Herald Limited
The sale follows a decision by the Takeovers Panel (the Panel) to vest shares in the Commonwealth for sale by ASIC.
Legal, Regulation & Compliance
07/27/2023
MAS Enables Online Nomination of Insurance Beneficiaries
The process for nominating beneficiaries currently involves hardcopy submissions with in-person witnessing.
07/24/2023
Appleby's Hong Kong office advises China Everbright Greentech Limited on its registration of up to RMB 5 billion DFIS and issuance of RMB 1 billion MTN
China Everbright Greentech is a professional environmental protection service provider in China, with its businesses focusing on integrated biomass utilisation, hazardous and solid waste treatment, environmental remediation, solar energy and wind power.
07/21/2023
Hong Kong, mainland China regulators agree to enhance wealth management and bond connect schemes during 3-day Beijing visit, HKMA CEO says
Mainland officials support the strengthening of Hong Kong’s international financial centre status: chairman of industry body HKAB
07/21/2023
APRA publishes final investment governance guidance
"The reforms have been broadly welcomed by trustees, many of whom have sharpened their focus on the valuation of unlisted assets, liquidity management and stress testing in recent months."
07/20/2023
Carey Olsen's Helen Wang achieves Full (TEP) Membership with STEP
Helen is listed as a Rising Star in The Legal 500 Asia 2023 Guide
07/19/2023
Henley & Partners: Singapore Leads Passport Rankings
Singapore has a population of 5.6 million and it granted citizenship to about 23,100 people in 2022.
07/19/2023
ASIC cancels AFS licence of FTX Australia
On 11 November 2022, John Mouawad, Scott Langdon and Rahul Goyal of KordaMentha were appointed as voluntary administrators of FTX Australia
07/18/2023
APRA finalises new prudential standard on operational risk
APRA finalised the standard following industry consultation that commenced in July 2022.
07/17/2023
Hong Kong Proposes Wider Safety Net for Deposits
The deposit protection scheme was launched in 2006 and is funded by banks.
07/17/2023
APRA welcomes the release of FRAA report
APRA's detailed response to the report can be found on the attachment below.
07/14/2023
China introduces rules for private investment funds
As of May 2023, there were 153,000 private investment funds in China with 21 trillion RMB (US$2.91 trillion) of combined assets under management, according to figures from the Asset Management Association of China.
07/14/2023
SFC reprimands and fines Changjiang Asset Management (HK) Limited $3.4 million for regulatory breaches and internal control failures
In deciding the disciplinary sanction, the SFC took into account all relevant circumstances, including CJAM’s acceptance of liability and otherwise clean disciplinary record.
07/14/2023
ASIC to host industry roundtable in support of ASX’s CHESS replacement project
More than twelve industry leaders have been invited to attend the roundtable, drawn from different stakeholder sectors and fields of expertise. ASIC expects each attendee to act in the public interest and to work constructively towards a solution.
07/13/2023
UBS Suspends Plans for New China Fund Unit
As of the end of 2022, Beijing-headquartered ICBC Credit Suisse had 1.72 trillion yuan ($240 billion) in assets under management with close to 2.7 billion yuan in net profit last year.
07/13/2023
UBS Suspends Plans for New China Fund Unit
As of the end of 2022, Beijing-headquartered ICBC Credit Suisse had 1.72 trillion yuan ($240 billion) in assets under management with close to 2.7 billion yuan in net profit last year.
07/13/2023
Maybank: Monetary policy tightening in Philippines is over
During a year-long tightening cycle, the BSP raised key policy rates by 425 basis points since it started its interest rate liftoff in May last year to cool inflation and stabilize the peso
07/13/2023
Monetary Authority of Singapore and National Bank of Cambodia set up Financial Transparency Corridor to support SMEs
In March, Singapore and Cambodia collaborated on cross-border sharing of individual consumer credit profiles that makes it easier for citizens from both countries to access financial services in their country of residence.
07/12/2023
Harneys advises Keep Inc. on its Hong Kong IPO
It offers personalised fitness programs, sports apparel and devices, health food, and other wellbeing services.
07/10/2023
HSF's APAC Monthly Private Wealth Legal Developments for June 2023 Released
HSF's monthly update serves as a valuable resource for staying up to date with the latest legal changes and their impact on the private wealth sector.