Managers of Wealth Asia Pacific

Taiwan’s FSC could relax QDII constraints

An FSC official explained that the directive would help domestic managers to promote Taiwanese fund product

Appleby Advises ORIX Corporation on Japanese Acquisition

The Appleby team was led by Cayman’s Head of Insurance, Simon Raftopoulos

Shenzhen bourse tightens up asset securitisation rules

The directive is mainly targeted at subsidiaries of securities brokerages and fund houses

China's Han Kun enters Hong Kong market with local alliance

Beijing firm Han Kun Law Offices has launched a base in Hong Kong via an association with local firm Choy Cheung & Co.

BNY Mellon closes Japan fund

BNY Mellon is to close its BNY Mellon Japan Equity Value fund due to its small size.

Korean rich should pay more tax: ADB

An economist from the Asia Development Bank urged Korea to consider levying more taxes on the rich to create a more balanced wealth distribution.

Alleged Clive Palmer fraud ‘to hit $23m’ over Chinese funds

THE scale of the fraud alleged against Clive Palmer is tipped to almost double to about $23 million, the total amount of Chinese cash allegedly siphoned by Mr Palmer and his companies from a bank account set up to fund operations of a port for iron o

Is the Future Fund falling behind the divestment curve?

When questioned in Parliament on Thursday about why the Future Fund has not divested from fossil fuels, Chairman Peter Costello was quick to respond that the fund’s only mandate is to deliver investment returns.

International money transfer businesses launch class action against Westpac

The legal action, filed late on Friday after talks with the bank failed to resolve the issue, also included a temporary reprieve with an interim court order stopping Westpac from shutting down the trading accounts.

Mayer Brown promotes 21 to partner worldwide

Mayer Brown, a leading global law firm, announced the promotion of 21 of its lawyers worldwide to partner. The appointments take effect January 1, 2015.

Philippine Court asked to seize $2m assets of Arroyo aide

The Office of the Ombudsman has asked a special court to order the seizure of $2 million in alleged illegal assets amassed by a cabinet official and close political ally of former president Gloria Macapagal-Arroyo.

Hong Kong asks China for more RQFII quota

We hope to see a good figure

$121m sent offshore after Astarra custodians exit

ANZ removed itself as one of the gatekeepers of Trio Capital's fund in February 2009 and was replaced by National Australia Trustees Ltd

Westpac moves first on 'terrorist' accounts

Westpac is the last of the four major banks to withdraw from servicing remitters, as concern about reputational risk grows and pressure from big global banks that clear transfers steps up as conflict rages in the Middle East.

Australian regulator moves against failed fund house LM

The fund was LM’s flagship product and was heavily marketed overseas as a low-risk, stable-return vehicle ideal for people planning a retirement.

New Zealand central bank to make cash more colorful

- New Zealand's wallets and purses will be sporting a lot more color when the Reserve Bank of New Zealand begins releasing new banknotes designed to foil counterfeiters from next year.

Lodhiya appears before ED, denies black money charges

The Ahmedabad zonal unit of ED had issued summons to Lodhiya in connection with his foreign transactions.

Offshore investment not illegal, says SSM

Offshore investment jurisdiction is not illegal and whether a company decides to invest offshore depends on its business strategy

Australia's ANZ bank suspends seven traders

Since mid-2012, ASIC has inquired into possible manipulation of Australia’s benchmark, or BBSW, rates by 14 banks that contributed prices to the rate setting process.

Bank of Tokyo-Mitsubishi fined $315m for 'misleading regulators'

BTMU Pressured its Consultant, PwC, to Remove Key Warnings to Regulators on Bank’s Transactions with Sanctioned Countries, Including Iran, Sudan, Myanmar

Legal, Regulation & Compliance