Managers of Wealth Asia Pacific

James Mawhinney handed 15-year injunctions in ASIC proceedings

This is the culmination of a matter that has taken many years and considerable resources.

Scam alert related to banks

Anyone who has provided his or her personal information

SFC obtains disqualification orders of up to four years against five more former directors of Superb Summit International Group Limited

Under the orders, Chan was disqualified for four years, Law and Cheng each for three and a half years, Qiu for three years, and Li for two and a half years.

Societe Generale Securities Australia fined $3.88 million for market gatekeeper failures

Manipulation of the daily settlement price of electricity and wheat futures contracts has the potential to impact supplier funding costs, and in turn electricity and wheat prices for consumers.

Four Carey Olsen partners named among top offshore litigators in Asia

The list identifies exceptional litigation practitioners who have demonstrated outstanding expertise when handling complex cross-border disputes in Asia.

Hong Kong and Australian courts recognise principles of segregation in Cayman SPCs

The Hong Kong High Court expressly confirmed the validity of ring-fencing of assets in different SPs in an SPC structure.

Joint Statement by the HKMA and the SFC on Stablecoin-related Market Movements

Some of these claims have also mentioned recent engagements with financial regulatory authorities in Hong Kong.

Terraform Labs' Do Kwon Pleads Guilty to US Charges

Kwon originally faced nine charges under the indictment and his sentencing is scheduled for December 11.

NAB and AFSH penalised $15.5 million for failing customers facing financial hardship

As a result, those consumers remained unaware of the outcome of their hardship applications.

ASIC takes action against a further 28 SMSF auditors in FY25

ASIC regulates the conduct of SMSF auditors and will continue to act where conduct falls short.

ASIC remakes incidental retail cover legislative instrument

ASIC will continue to monitor the instrument’s appropriateness

Administrative Review Tribunal upholds ASIC’s 10 year ban on United Global Capital director Joel Hewish

Mr Hewish may seek an appeal in the Federal Court or seek a referral from the President of the Tribunal to the Tribunal’s Guidance and Appeals panel.

APRA’s plans to support small and medium-sized banks

The government welcomed all nine actions from regulators

ASIC secures million-dollar penalties from iSignthis and former director and CEO Nickolas John Karantzis

This conduct resulted in significant periods of time where both the market and investors were misinformed.

Beware of fraudulent documents purported to be issued by HKMA

The HKMA clarifies that the document is forged.

Four people charged with money laundering in fake investment scam

ASIC alleges that the four dealt with victim funds which were the proceeds of crime and were reckless as to whether those funds were proceeds of crime.

Japanese official: Bank of Japan may be behind the curve vs. inflation

The Japanese Yen (JPY) is holding its recovery near 147.25 against the US Dollar (USD) following these comments, with USD/JPY losing 0.07% on the day so far.

APRA increases capital requirement and imposes licence conditions on KeyInvest

KeyInvest is a life insurance company and friendly society that primarily offers funeral bonds.

Scam alert related to banks

They will not ask customers for sensitive information

SFC obtains six-year disqualification order against former vice-chairman and executive director of Zhongda International Holdings Limited

Although no allegation has been made that Zhang personally benefited from the unauthorised fund transfers or the disposal

Legal, Regulation & Compliance