Managers of Wealth Asia Pacific

Outgoing CEO name removed from critical AMP report draft

Hodge questioned whether Regan had considered it "ordinary" that the supposedly independent Clayton Utz report would necessitate regular exchanging of drafts and comments with AMP.

Winsome Group's Jatin Mehta is next; ED cracks UAE authorities to get evidences in hand

In mid-2016, the ED had asked Dubai to expedite its response to India's letters rogatory (LR) relating to Mehta's Winsome group.

Falcon Private Bank ordered to pay CHF 1.8 million to Finma

While the court acknowledged Falcon’s severe due diligence violations, the ruling can still be appealed at the Federal Court.

Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah-Compliant Solutions and Structures for Businesses and Families

As a key element in Malaysia’s offering in Islamic financial services, Labuan IBFC’s leadership in Islamic finance is entrenched, and as home to the world’s first Sukuk, the jurisdiction continues to innovate in the space of Islamic fina

AMP admits it misled Oz regulator ASIC multiple times as advisory scandal hits sector

“I think there are reasons to be concerned. I think they show a culture that’s not as robust as it should be.”

AMP admits to serious misconduct in RC submissions

AMP made a series of acknowledgements of possible contraventions of the Corporations Act and the ASIC Act in relation to fees for no service.

Three major banks are up for sale. Who will buy them?

Their eventual buyers could alter the face of the Pakistani banking system. Who has the cash, knowledge, and desire to pull this off?

Regulators turned a blind eye to 'inherent conflict' for two decades

Westpac was somewhat slower to get on board, but in 2002 it snapped up Rothschild's local funds management business for $323 million, and then forked out $900 million to buy most of BT Financial Group.

Pakistan allows Bank of China to settle transactions in yuan

The country’s bilateral trade deficit with China widened to $12bn in the fiscal year 2016/17 from $4bn in 2012/13.

CBA advice failures unacceptable: Comyn

ASIC found the advice firms failed to provide, or failed to locate evidence regarding the provision of, annual reviews to the customers.

Excel Partners uses onshore assets to borrow foreign money

Excel’s legal counsel was Baker McKenzie FenXun, the joint operation office established by Baker McKenzie and FenXun Partners in Shanghai Free Trade Zone.

ASIC fees to more than double

Industry funding ensures that the costs of regulation are borne by those that have created the need for it, rather than the Australian public.

Cryptocurrency service providers now regulated: AUSTRAC

AUSTRAC chief executive officer Nicole Rose said the new regulation will instill public confidence in the fledgling sector.

PNB fraud: CBI questions 3 officials from Indian banks' branches abroad

The scam, which reportedly began in 2011, was detected in the third week of January this year, after which the PNB officials reported it to the concerned agencies

IC approves Fullerton’s buyout of 2 PH HMO firms

Based on the business plan submitted by Fullerton Health, the existing management team of Asalus and Avega will continue to form the core leadership in the Philippines.

Singapore central bank works on guide to avert data misuse

The central bank is working with key financial industry stakeholders, including banks, insurers and asset managers, on the guide, which will be ready by the end of the year.

Japanese banks to gain easier access to Hong Kong currency

Central banks' settlement system link paves way for JGBs as collateral

HSBC to expand further in China, cut red tape under new management team

Tucker, who took over as chairman last October, has already cut the lender’s board from over 20 people down to 14

ASIC slaps fines on Spaceship and its trustee

Spaceship trustee Tidswell Financial Services was expected to supervise the fund's promotion, ASIC said.

US pension funds in CBA class action

Phi Finney McDonald director, Odette McDonald said their class action is therefore open to a greater number of investors.

Legal, Regulation & Compliance