Managers of Wealth Asia Pacific

Hong Kong property tycoons are charged with corruption

Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of Asia’s wealthiest men, were among five people charged with eight offences, an official statement said.

South Korea, Switzerland TIE Protocol Takes Effect

The Finance Ministry stated that it had been agreed to make it easier for the tax authorities in each country to request and obtain financial information, allowing for the disclosure of information on bank accounts believed to be operated by those of the

Ex-bank exec slapped with theft case

The Department of Justice approved the filing of 87 counts of qualified theft case against a former executive of Citibank for allegedly embezzling over P100 million of his client’s money.

Op-Ed: Switzerland stung by allegations of Indian black money

The bilateral treaty between India and Switzerland, the Double Taxation Avoidance Agreement (DTAA), provides the framework within which Indian authorities can seek administrative assistance against tax evasion or fraud.

Banks play cat-and-mouse with Beijing to comply with rules

This practice, which started last year, exaggerates the size and stability of banks' liquidity and masks any stresses on the country's financial system at a time when the world's second-biggest economy is expanding at the weakest pace since

US banking giant to apologise over lax money laundering controls

In the note sent to employees on Tuesday, the London-based lender's chief executive Stuart Gulliver said the Permanent Subcommittee on Investigations would expose weaknesses in the bank's money laundering controls.

Swiss HSBC account holders offered India amnesty, says official

India joins countries including the UK and the US in cracking down on rich people who haven’t disclosed offshore funds amid probes into money laundering and tax evasion.

Finance council 'won't spark turf wars'

That assurance was given by Laura Cha Shih May-lung, formerly with the China Securities Regulatory Commission, who was appointed by Chief Executive Leung Chun-ying to chair the preparatory work on the council.

King & Wood Mallesons tops Asia Pacific M&A tables

Baker & McKenzie did 30 deals worth $13.6bn, and the firm slipped marginally from first to second place on the tables in the past year.

Former Herbert Smith alliance partner opens Hong Kong office

Former Herbert Smith alliance partner Stibbe is set to launch an office in Hong Kong with the aim of assisting Chinese clients with European investments.

International law firm promotes lawyers in Bermuda and Hong Kong

Corporate and Private Client teams have been promoted to Director.

Scammers take $113m from Australians

Home Affairs and Justice Minister Jason Clare said while the five-year, $113 million figure was alarming, the real toll was likely to be much higher as many victims were often too embarrassed to go to authorities.

SEBI mulls independent regulator for exchanges

As per the new rules, exchanges can also get listed, although not on their own platform.

Singapore to give full licence to 2 Chinese banks

It said the decision formed part of an agreement to enhance banking services cooperation with Beijing under the existing China-Singapore Free Trade Agreement.

Financial fraud: When gatekeepers see no evil, hear no evil and speak no evil

Media’s ‘bad apple’ theory no longer works

Japan plans stiffer penalties for insider trading

Financial services minister Tadahiro Matsushita on Wednesday instructed an advisory panel of scholars and experts to review current regulations and propose new rules, including penalising those who pass on insider information.

Nomura Dropped From DBJ Bond Sale Due to Insider Leak Case

Nomura last week said it will cut top executives’ pay and suspend some operations amid a government crackdown on insider trading.

Singapore Government Announces Local Incorporation Requirements for Qualifying Full Banks

The banks, which are classified under the government’s Qualifying Full Banks Programme, will be evaluated based on their market share of domestic deposits.

Clyde & Co raids Linklaters ally Allens Arthur Robinson for Australia launch

Linkaters’ Australian alliance firm Allens Arthur Robinson (AAR) has been hit by a team defection to Clyde & Co which is set to launch in the region in October.

RPC prepares for launch of five-partner Hong Kong office

The fifth partner is Jason Carmichael, who focuses on corporate and M&A. He joins from local Hong Kong firm CdB and JC& Co, which he co-founded in 2009 after he left Clyde & Co’s Hong Kong office.

Legal, Regulation & Compliance