Managers of Wealth Asia Pacific

Sheikh needed US$100 million to ‘get out of bed’, Leissner says

Sheikh Mansour hasn’t been accused of wrongdoing by the US.

Enhancements to the SME Financing Guarantee Scheme

The HKMCI will follow up on the implementation details with the lending institutions and strive to roll out the above measures in around one and a half months.

CommBank partners with customers to end financial abuse

New research reveals financial abuse cost victims $5.7 billion and the economy $5.2 billion.

Ex-Goldman Sachs banker’s 1MDB trial to be paused on new evidence disclosure

Prosecutors reveal ‘inexcusable’ omission of 15,500 documents in second week of Roger Ng’s case

Heliconia Chairman Lim on Leave After Arrest

None of the directors were charged with an offense and they can still travel outside Singapore if they first obtain clearance.

Ex-Citic Bank Boss Pleads Guilty to Bribery Charges

Sun also came under investigation in the same month, seven months after he resigned from the top role at Citic Bank.

Hong Kong SAR Employment Law Update – What’s on the Horizon

This alert seeks to provide a quick bullet-point summary of the proposed changes, which are likely to have an impact on employment costs going forward.

Former OCBC rep slapped with five-year prohibition order by MAS for fraud and dishonesty

The PO was issued against her in view of her conviction.

Offshore SPACs: Will Asia be next to witness the boom?

The recent revisions to the Hong Kong Main Board Listing Rules introducing the SPAC regime is an incredibly positive step forward in addressing the competitive disadvantage Hong Kong faced in attracting SPAC sponsors to the market, particularly from the d

SFC issues quarterly report

The SFC’s Chief Executive Officer, Mr Ashley Alder, participated in the 26th UN Climate Change Conference of the Parties in Glasgow, Scotland where he spoke about corporate sustainability disclosure and the significance of the new International Sust

SFC concludes consultation on regulating trustees and custodians of public funds

“The RA 13 regime will enhance the regulation of public funds in Hong Kong by regulating how depositaries safeguard scheme assets and oversee scheme operations,”

MAS further extends facility to support lending by banks and finance companies to SMEs

Banks and finance companies participating in the ESG Loan Schemes, which refer to the TBLP and the Enterprise Financing Scheme – SME Working Capital Loan, are eligible to tap on the Facility.

ASIC remakes ‘sunsetting’ class order on general insurance quotes

The relief remains substantively the same, with minor changes to give greater clarity and reflect current drafting practice.

China Investments by Herbert Smith Freehills

Among the provinces actively promoting and implementing green power trading, many of them have concluded green power transactions for 2022 at the end of 2021.

APRA proposes major increase in superannuation data transparency

Executive Board Member Margaret Cole said APRA was determined to publish as much of the new data as possible.

Three more jurisdictions sign MLI, which now has 99 signatories and parties

Thailand’s MLI position identifies 58 tax treaties that it wishes to be covered by the MLI, while Vietnam’s MLI position identifies 75 tax treaties that it wishes to be covered.

New requirements in force for cross-border data transfers from China

Critical data infrastructure operators and specific categories of processors are required to store personal data on the mainland.

ASIC and RBA update MoU with European Securities and Markets Authority

The parties express their willingness to work together to fulfill their respective regulatory mandates, particularly in the areas of investor protection, fostering market and financial integrity, and maintaining confidence and systemic stability.

ASIC consults on proposals to remake PDS, superannuation dashboard and FSG legislative instruments

ASIC has reached the preliminary view that the existing instruments are generally operating effectively and continue to form a necessary and useful part of the legislative framework.

Aware Financial Services Australia fined $20 million

The Court also ordered that Aware FS publish an adverse publicity notice on its website for one year.

Legal, Regulation & Compliance