Managers of Wealth Asia Pacific

ASIC enforcement update

ASIC commenced 21 civil penalty proceedings during the period and commenced court action targeting misconduct in insurance, superannuation and markets as well as system failures within major banks.

How Enduring Power of Attorney works in Hong Kong and why it is useful

Without an EPA, a Court order (which is expensive and lengthy) would usually need to be obtained before any person has access to the finances of the incapacitated person.

No End in Sight Yet for China’s U.S Delisting Fears

According to a statement by the PCAOB last Thursday, talks were still ongoing and it "remains unclear" whether Beijing will "permit and facilitate" auditing access.

SMBC Nikko and Five Executives Indicted in Japan

The arrests were related to «block offers,» or after-hours large-volume trades which allow investors to unload shares without creating a negative price impact.

Harneys partners named Top Offshore Lawyers

Lawyers were selected based on their case portfolio, client recommendations, and feedback from the market.

NSW court says minister has no duty of care to protect against climate change

The implications of this decision have been far-reaching and will likely have repercussions in other common law jurisdictions, such as the UK.

Joint Response to "Explain delays in issuing insurance fair practice guidelines" - The Straits Times, 9 March 2022

MAS and MSF have consulted relevant medical professionals to ascertain that the underwriting standards of the insurance industry are grounded in science.

ASIC scrutinises marketing of managed fund performance and risks

'ASIC is committed to protecting consumers where misleading marketing practices run counter to their interests.'

APRA publishes IOPS announcement

APRA Deputy Chair Helen Rowell is the President of IOPS.

Ashurst launches superannuation offering with new partner

With almost three decades' experience in financial services, Scott advises some of the largest industry and public sector superannuation funds in the country.

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.

Legal, Regulation & Compliance