Managers of Wealth Asia Pacific

Former Westpac financial planner permanently banned

The false policies contained invented details, including imaginary conversations and false signatures, and none were either requested or approved by any existing or new Westpac customer.

Online equity financing platforms to be regulated by China

The inspection will focus on several aspects, including whether the online fund raisers have promoted themselves publicly

Court takes ACCC back to basics

In ANZ, the ACCC contended for a market for the supply of loan arrangement services

NZ Super Fund's debt claim against Portuguese bank OK'd for UK court

The central bank of Portugal bailed out BES, splitting its assets and loans into a good and bad bank, with the bank's main shareholders forced to leave their interests in the bad bank.

Eversheds adds corporate partner in HK

The firm’s Asia corporate practice comprises 30 lawyers, including eight partners.

Australian tax data exchange unlawful, court rules

A judge’s ruling that the Cayman Islands Tax Information Authority acted unlawfully when it handed over a trove of documents on two Cayman-registered companies to Australian tax authorities has been upheld by the Court of Appeal.

China Central Bank Defends Online Payment Rules, Critics See Rules Stifling Industry Innovation

China’s central bank has moved to defend draft rules that would force online payment processors to channel large payments through traditional bank accounts

Korea fund managers demand clarity on tax reforms

Recent tax incentives introduced in Korea to encourage overseasinvesting funds have not been enough to please domestic managers, who are demanding greater clarity over the new rules.

Three out of four major banks above APRA's investment guideline

NAB was followed by ANZ, which recorded growth of 12% and CBA, which recorded growth just above APRA’s guidelines at 10.2%.

HK regulator fines BNP Paribas $1.9 million for 'dark pool' trading

Hong Kong securities regulator said on Monday it fined French bank BNP Paribas HK$15 million ($1.93 million) for failures related to "dark pool" trading.

US hedge fund Citadel embroiled in China's trading probe

One of the Chicagobased hedge fund's jointventure managed accounts has been suspended by the Shenzhen Stock Exchange, making it the first foreign victim of China's crackdown on shortselling.

Ogier announces two partner appointments in Hong Kong

Ogier Hong Kong practice partner Nicholas Plowman said: “Our Hong Kong team continues to make massive strides in the market

ASIC watchdog moves on failed Bendigo land-bank scheme Midland HWY

The Australian Securities and Investments Commission has announced it will move in the Federal Court on Monday to remove the administrators of Midland HWY Pty Ltd, describing it as a "failed land-banking company".

Singapore faces shortage of compliance experts in fight against dirty money

Demand for experienced compliance experts soars in city state as banks go on hiring spree amid the government crackdown on tax evasion

Japanese cops nab CEO of MtGox Bitcoin exchange

It was not immediately clear if there would be more charges against Karpeles, who reportedly denied the allegations.

‘Fortress Europe’ freezes Cayman Island hedge funds out

Hedge fund managers domiciled in the Cayman Islands, the US, Hong Kong and Singapore face uncertainty over whether they can sell their funds across Europe following a ruling by a European regulator.

China securities regulator asks financial institutions in Hong Kong, Singapore for stock trading records: sources

Three sources at Chinese brokerages and two at foreign financial institutions said the China Securities Regulatory Commission had asked for trading records in order to identify investors who had taken net short positions against Chinese stock markets.

Legal, Regulation & Compliance