Managers of Wealth Asia Pacific

Chinese hedge fund scramble as regulators clean up 'Wild East'

The new hedge fund rules aim to shrink a vast industry insiders describe as a "Wild East" rife with fraud.

SFIO to probe 2 offshore accounts in Mallya case: Sources

There are two offshore accounts— in Isle of Man and Panama—used in the acquisition of Shaw Wallace Distilleries which are part of Vijay Mallya's US expansion plans.

ANZ wealth breaches slammed

While the majority of these compliance breaches are in the past, we know we can do better

Court Appoints Knight Frank as Consultant in NSEL Case

In 2014, NSEL had made a similar attempt and finalised two global consultants Knight Frank and Colliers International to identify competent buyers to dispose of immovable properties of Mohan India, the largest borrower defaulter of NSEL.

MAS, China Central Bank Renew Bilateral Currency Swap Arrangement

The Monetary Authority of Singapore, and the People’s Bank of China on Tuesday announced the renewal of the existing bilateral currency swap arrangement for another three years.

Freshfields, Norton Rose on CITIC’s $4.8 bln sale of property assets to China Overseas Land

Upon completion of the deal, CITIC will gain a 10 per cent stake in COLI and become the company’s second-largest shareholder.

Harneys: The absence of a modern restricting regime and how to get around it

Absence of a modern restricting regime and how to get around it.

South Korea fines HSBC and Deutsche $50,000 for FX swap collusion

The watchdog fined HSBC 46 million won and Deutsche 13 million won. HSBC's Seoul branch said it has cooperated fully with the Fair Trade Commission. Deutsche declined to comment.

HSBC freezes at least $87m in accounts linked to linked to a Chinese tycoon

In a 2014 Financial Times investigation, people who have had dealings with Mr Pa — who goes by at least seven different names — claimed that he also had close ties to the Chinese intelligence services.

China banking regulator warns of risks from overcapacity sectors — sources

The China Banking Regulatory Commission asked lenders to assess the credit risk and potential asset losses that loans to borrowers in sectors with overcapacity posed

Chinese Regulators Speed Up Bad-Loan Help for Banks

Steps come as Chinese banks see sharp decline in profitability and surge in nonperforming loans

ASIC to investigate CommInsure

The investigation will aim to make sure CommInsure reforms its processes and reviews its insurance products and claims handling, Fairfax Media reports.

Macquarie Bank licence curbed by ASIC after client accounts breach

Macquarie has filed an application for review of the decision in the Administrative Appeals Tribunal and has also sought a stay of the decision pending the outcome of the review.

Bangladeshi tycoon with $12 bn in Swiss bank faces graft charges

Shamsher has been questioned by the commission several times in recent months after he allegedly failed to explain his position to investigators.

Hanlong exec gets largest insider trading sentence in Australian history

ASIC worked with the Commonwealth Attorney-General’s Department, the Commonwealth Director of Public Prosecutions, the AFP, the Hong Kong Department of Justice and the Hong Kong Police in securing Mr Xiao’s surrender to Australia.

Hong Kong Regulator Bans Hedge Fund Founder

The SFC is stepping up scrutiny of personal trading irregularities in the hedge-fund industry.

New Zealand central bank surprises market with rate cut

The central bank also signaled at least one more rate cut to come.

Goldman Adviser to 1MDB Quit After Alleged Bank-Policy Violations

Tim Leissner was firm’s point man with Malaysian state fund

Ex-Goldman Sachs banker wasn't in Singapore when 1MDB deals took place: MAS

He was not based in Singapore when his alleged involvement in the 1MDB deals took place

Ex-Goldman Banker to Malaysia Fund Subpoenaed in U.S. Probe

From Malaysia to Switzerland to the U.S. investigators have been trying to trace whether money might have flowed out of the fund and illegally into personal accounts.

Legal, Regulation & Compliance