Managers of Wealth Asia Pacific

Ex-BofA Executive Loses Appeal in Hong Kong Police Case

The police officer later said he drew his baton in an attempt to apprehend a teenager who had jumped a turnstile.

Only Goldman Banker Standing Trial for 1MDB Finally Headed to Court

Malaysia did not allow the film to be shown in the country, deeming it too risqué.

Singapore: Combating dilatory conduct and non-participation in arbitration proceedings - The delicate balance

The use of dilatory tactics by recalcitrant parties is a common, if not expected, problem in arbitral proceedings.

Philippine banks want more laws as cyber-crime losses mount

The bankers’ group is pushing to update a decade-old cybercrime law

MAS-led Industry Consortium Publishes Assessment Methodologies for Responsible Use of AI by Financial Institutions

The Consortium also released an open-source toolkit [1] to help FIs adopt the Fairness Assessment Methodology.

ASIC quarterly update October to December 2021

ASIC also focused on raising awareness of new and continuing regulatory obligations.

A Framework for Equitable Sharing of Losses Arising from Scams

MAS is working with the industry to evaluate longer-term measures to be implemented in the coming months, as well as to develop a framework for equitable sharing of losses arising from scams.

MAS and CSRC Advance Regulatory Collaboration

Both sides discussed the implementation of the capital markets collaboration initiatives announced at the recent 17th Joint Council for Bilateral Cooperation between Singapore and China held in December 2021.

MAS to Combat Greenwashing in the Asset Management Industry

Managers of ESG funds in particular should consider implementing mechanisms to monitor compliance with stated investment objectives, including exposure limits for the funds sold.

AIRA calls for greater disclosure of shareholder rights by investment facilitators

AIRA said this negatively impacted listed companies, limited their ability to communicate which affected long-term relationships and divided the level of information and reward across shareholders.

Areas for improvement on ASX boards

It would also consider recommending a vote against the re-election of a board chair if the company had an all-male executive team.

Outcome related fee structures proposed for Hong Kong arbitrations

In making the recommendations, the LRC has taken into account the significant demand for OFRS, as parties (ranging from impecunious ones, to sophisticated commercial entities) increasingly look for alternative fee-structures.

OCBC Completes Goodwill Payouts to Phishing Victims

80 percent of the amount lost occurred between December 23 and 31, in a period that saw inquiries to the bank’s call center surge more than 40 percent.

Indonesia to Balance Growth and Consumer Protection in Digital Transformation

OJK will soon roll out the technical regulations on insurtech in hopes of its initial goal

Avoiding FAR duplication with ASIC and APRA

“We’ve got processes behind that system that automatically have that information disseminated through to ASIC as well and are both receiving the same information of the essentially at the same time.”

Citigroup fined $45m for misleading clients

The regulator highlighted that this is pervasive dishonest behavior by the company

Revisions to HKEx Listing Rules: How these revisions impact Offshore Issuers

Under the revised listing regime, a unified approach is now adopted in terms of shareholder protection irrespective of the jurisdiction of incorporation of the issuer.

The Fifth Hong Kong-Switzerland Financial Dialogue

The Dialogue was chaired by Mr Edmond Lau

China revamps overseas listing rules

These concerns arose after the fallout over the Chinese ride-hailing app Didi’s initial public offering (‘IPO’) in late June 2021.

Banks push back against China's plan to curb foreign IPOs

They say the rules are vague and will expand Beijing's regulatory reach outside the country

Legal, Regulation & Compliance