12/21/2021
ASIC bans two Tweed Heads-based financial advisers
Mr Furnell and Mr Summers have the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Legal, Regulation & Compliance
12/21/2021
ASIC cancels AFS licence of United Wealth Group
ASIC also found United Wealth Group failed to take reasonable steps to ensure its authorised representatives complied with financial services laws.
12/21/2021
Former MFS CEO declared bankrupt
Justice Kylie Downes found the Court could make orders to declare Mr King bankrupt based on the unpaid pecuniary penalty
12/20/2021
Malaysia’s securities regulator cuts minimum fundraising for SPAC IPOs, raises price
The SC will now also allow SPACs to issue securities to acquire a qualifying target firm instead of having to pay all cash like before.
12/20/2021
The Monetary Authority takes disciplinary action against ePaylinks Technology
The Monetary Authority has reprimanded and ordered ePaylinks to pay a pecuniary penalty
12/20/2021
New Inspection Regime in Hong Kong
In light of the growing community concern about whether personal information contained in public registers is properly protected, the Government believes it is appropriate to implement the new inspection regime under the Companies Ordinance in three phase
12/20/2021
Ogier's "extremely responsive" and "meticulous" team praised in Chambers Asia Pacific
In Investment Funds, team head Nicholas Plowman is praised for his "depth of expertise", with clients saying they "attribute much value to his advice". Kate Hodson and head of ESG is "very strong and manages her team very well&
12/17/2021
10 Arrested in SFC-MAS Ramp-And-Dump Raid
The SFC appreciates the assistance of the Hong Kong Police, the MAS and the Singapore Police and will continue to work closely with the Hong Kong Police’s Anti-Deception Coordination Centre
12/17/2021
Appleby Hong Kong Lawyers Judy Lee and Eliot Simpson recognised in the latest Chambers and Partners Asia Pacific guide
The team works very closely with us, the service is very high-quality, and they give a quick response to the client’s questions.
12/16/2021
Praise for Carey Olsen's Singapore and Hong Kong SAR offices in Chambers Asia-Pacific
The latest edition of the highly respected international legal directory also saw Singapore partners Anthony McKenzie and James Noble, and Hong Kong partner Jeremy Lightfoot recognised individually.
12/16/2021
MAS Proposes to Introduce Due Diligence Requirements for Corporate Finance Advisers
The consultation paper is available on MAS’ website . MAS invites interested parties to submit their comments on the proposals here by 15 February 2022.
12/16/2021
Bedell Cristin advises first wholly owned Singaporean listed REIT
It is entering the UK REIT regime to future-proof the overall tax structure of EliteCReit and provide an improved platform for expansion within the UK market.
12/16/2021
Leading law firm for 10 areas in Singapore and Japan in Chambers Asia Pacific 2022
This is only possible through the thoughtful feedback provided by our clients and business partners.
12/16/2021
Why climate risk is also a human rights risk: KPMG and RIAA launch new guide for institutional investors
The guide points out that this gap is a risk to institutional investor trustees that must be addressed as an urgent matter of prudent risk management.
12/15/2021
Charge withdrawn against former director James Feng
The CDPP has conducted a further review of the matter and determined that the charge against Mr Feng be withdrawn.
12/15/2021
ASIC sues OnePath for fees for no service misconduct
ASIC is seeking declarations, pecuniary penalties and other orders from the Federal Court.
12/14/2021
21-346MR ASIC cancels AFS licence of Premier Wealth Management
Premier Wealth Management has the right to seek a review of ASIC’s decision by the Administrative Appeals Tribunal.
12/14/2021
ASIC bans Sydney based financial advisers for five years
ASIC found Mr Allen was involved in Mr Cummings’ non-compliance with the requirement to provide Statements of Advice.
12/14/2021
APRA proposes changes to align capital and reporting frameworks for insurance with AASB 17
The proposals are also relevant for private health insurers, given APRA’s intention to align the private health insurance capital framework to LAGIC.
12/14/2021
APRA moves to strengthen capital standards in private health insurance
The proposals increase minimum capital requirements, however the industry is very well-capitalised and already holds capital significantly in excess of the new proposed regulatory minimums.