Managers of Wealth Asia Pacific

FSC warns on using offshore Internet bank sites to lend

Non-traditional banking practices are not subject to supervision by the FSC so it cannot intervene when disputes do arise

Bakers and Clifford Chance take lead roles on Hong Kong Airlines IPO

Baker & McKenzie and Clifford Chance are understood to be advising on the IPO of Hong Kong airlines, estimated to worth approximately $500m.

Can Hong Kong still compete? Top lawyers raise concerns about the city's future as a financial centre

Welcoming more than 100 delegates to Legal Week's third Corporate Counsel Forum Hong Kong, Solicitor General Frank Poon alluded to the city's recent ranking as 20th in the world for economic freedom and third as a global financial centre.

Leading dispute resolution partner joins International law firm in Beijing

The firm now has 18 partners and over 150 total staff members across its Greater China network

Ex-HSF partner joins World's premier global law firm

The Brisbane office marks Bakers’ first expansion in Australia in three decades

China: Freer rein for bosses at six state-owned companies

CITIC Pacific does not intend to place any more shares through placement

Baker & McKenzie Voted Asian Legal Business ‘Employer of Choice’

Baker & McKenzie has been voted ‘Employer of Choice’ in Hong Kong, Indonesia, Malaysia and the Philippines, according to a recent survey conducted by Asian Legal Business.

Ex-Deutsche Bank Japan Salesman Gets Suspended Sentence

Tokyo District Court Chief Judge Akira Ando said Echigo can’t be strongly blamed for the offenses because his bosses remained silent and failed to stop them

Korea: Watchdog to intensify monitoring of asset managers

The Financial Supervisory Service said it has carried out in-depth on-site inspections of 86 asset management companies in June to check their compliance with regulations in selling funds and other financial instruments.

Corrs nabs KWM group head, lays off senior manager

The firm has also laid off a senior executive in the business development team as part of a broader restructure of the group.

AUSTRALIA: Regulators should not have power to approve bank bonuses, Financial System Inquiry advises

A financial inquiry has all but ruled out letting Australian regulators have a kill switch on bankers’ bonuses, which can be worth millions of dollars.

China To Liberalize Its Fund Management Industry With New Rules

CSRC says it will strengthen supervision on whether public mutual funds have operated in accordance to regulations, and on enforcing compliance and implementation to protect the interest of investors.

Singapore proposes tougher anti-money laundering rules

It is also proposing that firms do a formal risk assessment of the money laundering risks they face as an institution and to take steps to mitigate them.

RBI allows issue of partly paid equity shares and warrants to foreign investors

The RBI also said that the time period for receipt of the balance consideration within 12 months shall not be insisted upon

Australia: Tiered rules proposed for mobile wallets, Bitcoin

The Government inquiry investigating regulation of Australia’s financial services industry has shied away from proposing strong regulatory action on virtual currencies and mobile wallets, suggesting a “graduated” regulation framework.

Bankers back reciprocity in new bill

They warn, however, that being overly nationalistic could deter much-needed foreign capital investment in the banking sector.

INDIA: Banking profits likely to be hit by higher provisioning requirements

RBI rule on provisioning for likely losses due to unhedged forex exposure of corporate clients may hurt banks

Standard Chartered Starts Legal Action Over Suspected China Port Fraud Lawsuit Targets Decheng Mining Owner Chen Jihong

Lawsuit Targets Decheng Mining Owner Chen Jihong

Liquidators hunt for alleged Centaur Litigation Ponzi scheme boss Scott Williams

Liquidator Said Jahani, of Grant Thornton, said he wanted to talk to Mr Williams and Mr Terrill.

China syndrome may hit Standard Bank

Wayne McCurrie, who heads Momentum Wealth, said this was “not a disastrous situation” for the bank by any means.

Legal, Regulation & Compliance