Managers of Wealth Asia Pacific

China’s crackdown on shadow banking hits foreign asset managers

Under the new rules, banks are prohibited from investing in such products, pushing foreign asset managers to rethink their fundraising strategy.

Legal developments offer greater privacy for officers of wealth management companies

Notwithstanding the new rules, officers of wealth management companies who would prefer to maintain a degree of separation between their personal life and their professional dealings should not publicise their home address in the first place.

Philippine top court rejects government's move to recover Marcos wealth

The court made the decision in April but it was only made public on Tuesday.

China urges lenders 'to support HNA bond issues'

In addition, policylender China Development Bank will handle future creditors' meetings, and lenders will now deal with HNA through head offices

Hong Kong remains the easiest jurisdiction in Asia Pacific for accounting and tax compliance

Hong Kong is the easiest jurisdiction in Asia Pacific for accounting and tax compliance, and fourth-easiest globally - according to TMF Group’s Financial Complexity Index 2018.

Westpac Charged For Wealth Flaws

Sinha was punished with a five-year ban last year for charging fees without providing all the advice customers had paid for.

1MDB controversy: Legal eagles hired by parties involved

FARA requires agents representing the interests of foreign powers to disclose their relationship with the foreign government and information about related activities and finances.

Aussie bank faces landmark lawsuit over bad advice

Asic is contending that, since Westpac held the financial services licence used by Sinha, the bank is liable for the alleged breaches, which carries a maximum penalty of A$1m (£564,084, €642912, $753,089) per breach.

Open justice versus privacy of trust (HSBC Trustee (CI) Ltd v Kwong and others)

First published in ePrivateclient in May 2018.

Malaysia to seek return of 1MDB money from banks, political parties

Having defeated his former protege in an election last month, Prime Minister Mahathir Mohamad’s administration has launched an investigation into how the fund founded by Najib lost billions of dollars.

Royal commission: banks pledge transparency on valuations

CBA said its policy is to provide a copy of valuations to customers when customers have paid for it, "except in limited circumstances".

China eases capital curbs on qualified foreign investors

The measure was imposed to prevent capital outflows caused by stock market volatility.

PNB fraud: Enforcement Directorate asks Interpol to issue red corner notice against Nirav Modi in money laundering case

The agency's move comes in the wake of the charge sheet it filed against 23 people including Nirav Modi in a special court in Mumbai.

Investors in no mood to buy the dip in Australian banks

Tougher regulatory climate and slowing housing market changes the equation

Asset managers raise pressure on Japan's board appointments

Calls intensify for more outside directors and fewer cross-held shares

Quantitative tightening puts Asian markets on volatile path

The ramifications of the Federal Reserve raising rates and unwinding its balance sheet, just as the European Central Bank looks set to end its bond-buying programme, is occupying investors in Asia.

UK Tier 1 investor visa applications among Chinese nationals soars by 56%. Roman Abramovich no longer interested in UK Visa.

Perhaps some very wealthy people may wish to consider other UK visa routes such as the tier 2 sponsorship licence and tier 2 visa scheme

Legal, Regulation & Compliance