Managers of Wealth Asia Pacific

Asset management challenges of the fintech era

Reliance on self-certification, with an emphasis on form over substance, may still lead to compliance issues over imprudent know your customer (KYC) standards of financial institutions.

Lightspeed Finance and director to pay $220,000 for failure to give effect to an AFCA determination

The $220,000 payment ordered by the court includes $20,000 in penalties, $150,000 in compensation and $50,000 for ASIC’s costs.

UAE-India trade deal is new phase of globalisation

Two countries coming together for their mutual economic interests during a crisis and doing what is best for them opens a new world of possibilities

The Alliance for Green Commercial Banks Hosts the “Green and Sustainable Capital Market Evolution Roundtable Session”

The Alliance was jointly launched by the HKMA and IFC in November 2020 to help banks develop the solutions needed to address climate change across emerging markets.

Another Setback For Credit Suisse

60 percent were against the discharge, which proxy advisors ISS and Glass Lewis recommended rejecting because of the significant financial damage and reputational cost to the bank.

Financial distress contributes to 40,000 SMSF breaches

Ten tips from the experts to ensure your DIY super fund is compliant.

Hong Kong's second SPAC deal put on hold, source says, clouding prospects

Regulators and bankers had hoped the approval would draw mainland China investors to list SPACs, which raise cash to buy private firms which are then listed through the vehicle.

Increase in maximum financial penalties for data breaches in Singapore

The annual turnover of the organisation will be ascertained from its most recent audited accounts available at the time the financial penalty is imposed.

Westpac penalised $113 million

The sheer scale of this impact suggests that, at the time, Westpac had a culture that did not prioritise compliance.

Anti-Graft Watchdog Probes Ex-China Merchants Bank CEO

Tian stepped down from the role earlier this month following the bank’s single trading session since 2015, with $11 billion of market value erased in one day.

Keynote Address at Association of Certified Anti-Money Laundering Specialists

The local banking industry, similar to that in other international financial centres, contributed over 80% of suspicious transaction reports filed to the Joint Financial Intelligence Unit

Goldman Tipped Off SFC on Morgan Stanley Block Trades

In Hong Kong, the spotlight was on block trades Morgan Stanley first executed for Chinese pharmaceutical firm WuXi Biologics in 2020, the report added.

PNG Prime Minister Voices Support for UBS Ban

Marape voiced support for the counsel assisting the commission's recommendations earlier this week to penalize UBS’ Australia arm

Leveraging Centralised Cloud MiFID II Advisory

One way that this regulatory gap may be breached is to implement a digital advisory platform that is ESG and MiFID 2 compliant, underpinned by a goal-based investment planning and advice execution workflow. This will enable institutions to adopt a consist

ASIC suspends AFS licence of Dixon Advisory

Dixon Advisory has a right to seek a review of ASIC’s decision at the Administrative Appeals Tribunal.

Appleby's Hong Kong Office Acts as Cayman Counsel on the Formation of Close-ended Venture Capital Fund

The fund will focus on venture and growth stage investments and leverage the investment team’s extensive industry network to access proprietary deal sourcing opportunities in the Smart Electric Vehicle (EV) industry value chain and the related ecosy

Ogier assists nearly half of all Hong Kong SPAC listing applications

With a significant proportion of Cayman Islands companies representing a majority of all the companies listed on the HKEX, it is expected that Cayman Islands exempted companies will continue to be the SPAC issuer vehicle of choice for Hong Kong SPAC IPOs.

Legal, Regulation & Compliance