Managers of Wealth Asia Pacific

Harneys acted for Arrail Group

Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, provided the registered office and principal share registrar services to the client.

NSW labour hire director disqualified from managing corporations for five years

The five companies were involved in labour hire in the construction industry.

Securities regulators worldwide to consult on concerns over rapidly evolving retail trading markets

The consultation is open until 23 May 2022.

MAS bans DBS wealth manager for fraud

Loh Thim Mun Marcus was found to have transferred clients’ money to his personal account.

Trio banned by Hong Kong regulator

After they used false certificates to prove they had minimum requirements to apply to be insurance agents.

ASIC issues information for social media influencers and licensees

‘ASIC monitors select online financial discussion by influencers who feature or promote financial products for misleading or deceptive representations or unlicensed advice or dealing. If we see harm occurring, we will take action to enforce the law,

Former DBS manager given prohibition orders after deceiving clients into transferring S$490,000 to personal bank account

he orders took effect on Wednesday (Mar 16) after Loh was convicted of cheating and forgery offences, and using the benefits of his criminal conduct.

Malaysia government caves to pressure, allows fourth EPF withdrawal

Members have pulled out a whopping 101 billion ringgit in the first three withdrawals, the pension fund says in a statement on March 16.

Ex-BSI Banker Dismissed Due Diligence Questions

"He basically said, ‘due diligence is not Goldman’s responsibility – it’s BSI’s responsibility to conduct its own due diligence"

Auditor’s registration suspended due to involvement in Big Un Limited audit

ECJ were engaged to manage the day-to-day audit activities despite one of the partners of ECJ being the company secretary of Big Un.

ASIC permanently bans former authorised representative

ASIC also found that Mr Halligan engaged in conduct designed to cause his clients to believe that they still had the shares he had transferred without authorisation.

SFC Fines Emperor Securities, Emperor Futures for AML Breaches

The SFC is of the view that Emperor’s conduct was in breach of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, the Guideline on Anti-Money Laundering and Counter-Terrorist Financing and the Code of Conduct (Notes 3 & 4).

Asia: Rising energy prices will hasten policy tightening in the region

Asian economies that didn’t endorse sanctions, China and India being the largest ones, will still need to comply with sanctions, or they may risk jeopardising their own access to the USD denominated international financial system.

Blowing the whistle

ASIC Regulatory Guide 270, Whistleblower policies contains guidance and good practice tips on establishing and implementing a whistleblower policy and program.

APRA releases quarterly authorised deposit-taking institution statistics for December 2021

Residential mortgage lending remained strong, with both the stock of outstanding loans and new loans funded increasing over the December 2021 quarter.

AMP welcomes Quality of Advice Review Terms of Reference

Banking

Linklaters advises QIA on its investment into Singapore-based marketing tech company Insider

The transaction was led by Singapore-based private equity partner Robert Elliot.

Banks will miss major deadline for real-time payment system upgrade

Reserve Bank governor Philip Lowe said three months ago he expected banks to hit PayTo deadlines.

Financial Regulation Update

Global Update

Mainland Regulator Bars Brokers from Hong Kong SPAC Promotion

Hong Kong approved the first application for a SPAC listing in January

Legal, Regulation & Compliance