Managers of Wealth Asia Pacific

‘Preposterous’ to say new FPI rules will lead to $75 billion outflows, says Sebi

Sebi had in April asked Category II and III FPIs to provide list of their beneficial owner (BO) in a prescribed format within six months

Committee to probe Pakistanis’ assets parked in Dubai

According to the committee’s report, the FIA has significant details about the properties held by Pakistanis in Dubai and the committee aims to work on bringing back those assets.

NAB, CBA hit back at claims they engaged in criminal conduct

CBA denied a range of legal breaches relating to its super business Colonial First State, including that it had potentially criminally violated the Corporations Act for tardy breach reporting.

Financial system risk is elevated and global standards are essential in managing cross-border infrastructure investment

The report says the financial outlook will also be shaped by China’s ability to manage risks relating to high indebtedness and leverage in its banking, shadow banking and wealth management industries.

OECD releases fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms

A document addressing the implementation of best practices is also available for each jurisdiction that opted to have such best practices assessed.

MAS issues Prohibition Orders against Mr Lee Chang Yeh Bentley for fraudulent and dishonest conduct

This warrants a prohibition order of considerable duration to protect consumers, deter similar misconduct and preserve the integrity of our markets.

Eric Watson used Caymans to 'disguise commercial reality', courts hear

The case hinges on a series of related-party loans and share transfers undertaken in 2002 as rich-lister Watson formally left New Zealand - a step intended to sever his taxable ties to the country of his birth - to reside in London.

Beware of DBS, OCBC phishing scams: Police

Some victims were also tricked into providing the information over the phone to people impersonating employees from the bank.

Hong Kong should use surplus to help end housing woes, city official says

As the sole supplier of land in the city, the government should be “more aggressive” in ensuring more supply to ease property woes, he says.

Monetary Authority of Singapore and Dubai Financial Services Authority strengthen ties in FinTech

The Agreement reflects the commitment of both authorities to support the continuous development of FinTech and innovation to deliver new and enhanced financial services to manage risks better, reduce costs, and increase efficiency.

Chinese police arrest $5bn hedge fund fugitive who fled abroad

Authorities in unnamed country help seize FX Group chairman wanted over defaults

PM seeks suggestions to recover wealth stashed abroad

The prime minister has declared retrieval of the hidden offshore assets as his topmost priority and promised to bring back the wealth stashed in overseas banks.

Noble shareholders clear restructuring deal

Company still faces many challenges

Baidu gets China fund distribution licence

The company also has to strengthen risk controls and sales management and protect investor interest to comply with regulatory requirements, CSRC adds.

Royal Commission challenges super regulators

Based on two weeks of case studies, Hodge doubted neither the approach of APRA or ASIC to regulate superannuation entities is sufficient to achieve specific or general deterrence of misconduct.

Industry fund awards sustainable equities mandate

The strategy was developed in collaboration with RobecoSAM, a dedicated sustainability investing business.

Morgan Stanley amends false independence claims

The words 'impartial' and 'unbiased' are also prohibited.

JPM AM aims for onshore private fund license

Other foreign fund houses have set up a wholly-owned business in China through an IM WFOE structure.

OneVue and boutique fund manager ink platform deal

OneVue is building a private-label platform for a $6 billion boutique investment manager.

Malaysia Brings Eight Money Laundering Charges Against Low

The charges cover approximately USD260 million in funds that Low is accused of receiving between December 2013 and June 2014.

Legal, Regulation & Compliance