Managers of Wealth Asia Pacific

ASIC to communicate negative audit review findings to directors

ASIC Regulatory Guide 260 Communicating findings from audit files to directors, audit committees or senior managers (RG 260) has been updated to reflect these changes.

Withers wins Law.com International Law Firm of the Year award at Asia Legal Awards

Law.com noted the firm’s continued expansion and development of new practice areas and for being a well-rounded law firm across multiple areas.

Bank of Japan policymakers saw need to keep ultra-easy policy: June meeting summary

At the June 16-17 meeting, the BOJ maintained ultra-low interest rates and vowed to defend its cap on bond yields with unlimited buying

China approves ICBC-Goldman joint venture to start offering wealth services

ICBC will "push forward" the joint venture to execute all the relevant procedure "in strict compliance with laws

ASIC warns super trustees to be transparent in their underperformance communications to members

The review found that trustees whose products failed generally complied with the legal obligations to notify their members of the failed test and to disclose the failed test on their website.

Advice firm unveils portfolio management service

It will feature a mix of active and passive funds

ASIC calls for better disclosure of business risks and asset values following financial reports review

Making inquiries of individual entities does not necessarily lead to material restatements in every case.

SFC publishes Annual Report 2021-22

Combating investment fraud and scams on online platforms remained an SFC enforcement priority.

Morgan Stanley Advisor Wins Right to Keep 1MDB-Linked Condo

The Walker Tower board said that its bylaws gave it the right to first refusal to any condo sale in the building and also claims that the sale was made at a deep 64 percent discount.

MAS and SFA invite entries for 2022 FinTech Awards

The Awards, supported by PwC Singapore, seek to recognise innovative FinTech solutions by FinTech companies, financial institutions, technology companies

China Business Law Journal names Harneys "Best Offshore Law Firm"

These awards really reflect the incredible teamwork, client focus and positive attitude of our people in China, who continue to deliver despite the challenges posed.

Stephenson Harwood named winner of seven categories at China Business Law Awards

The annual China Business Law awards recognise the best Chinese and international law firms in Greater China.

APRA finalises its macroprudential policy framework

APRA has a broad range of macroprudential measures that can be used to reduce financial stability risks.

Allianz and AWP plead guilty to charges for making false statements about travel insurance

The pleas were lodged before the Downing Centre Local Court in Sydney on 14 June 2022.

10 Walkers' Lawyers Recognised in Asia Business Law Journal's Top 50 Offshore Lawyers 2022

Notably, Ingrid, Caroline and Denise were acknowledged as “Ceiling smashers”, forming part of a group of eight female lawyers who have “[broken] down barriers in a sector heavily dominated by men”.

China Warns Foreign Banks on Pay

Regulators are also pushing banks to reduce cash compensation and increase the time span on deferred compensation to at least three years, the report said, citing the sources.

How to avoid ‘greenwashing’ for superannuation and managed funds

ASIC undertook a ‘greenwashing’ review of a sample of superannuation and investment products and identified some areas for improvement.

Hong Kong takes further step towards cybersecurity legislation

The rules define the security classification of administration's information, requiring administrative departments to classify their information

HSBC banker suspended for calling climate catastrophisers ‘nut jobs’

Kirk illustrated his point with the irrational fear-mongering caused by apocalyptic ‘Y2K bug’ predictions.

Hong Kong a ‘target market’ for Irish and European insurtechs

Major opportunities for successful Irish insurtechs and regtechs will arise from larger markets outside of Ireland, including Hong Kong.

Legal, Regulation & Compliance