Managers of Wealth Asia Pacific

MAS consults on FI-FI Information-Sharing Platform for AML/CFT

FIs will also be able to review the risk information shared on the platform using data analytics to disrupt illicit transactions.

ASIC sues former Freedom Insurance director and consultant over insurance sales incentive programs

ASIC is seeking declarations, civil penalties, injunctions and disqualification orders against Mr Cohen, and declarations and injunctions against Mr Oayda.

HSF Financial Regulation: Weekly Update

Entity to pay $20 million penalty for misleading superannuation members

China’s central bank continues to tighten regulation of fintech

Chinese authorities have taken a series of recent measures on fintech regulation.

launches financial restructuring practice in Asia

In the financial restructuring scene, law firms work in tandem with consulting firms and restructuring boutiques to provide an integrated offering to clients – typically debtors, creditors, private equity, distressed companies and hedge funds. Deche

ASIC bans Melbourne-based adviser for six years

Mr Sherwal also failed to comply with the additional disclosure requirements when providing product switching advice.

Singapore: Better safe than sorry – How to manage data breaches

A disaster recovery plan must also be put in place to minimise the impact of a breach.

China’s self-inflicted woes and the renminbi

To achieve both objectives, it is preferable for the exchange rate to remain stable.

SFC reprimands and fines Ample Capital

Settlement of payments through third parties by a customer is a red flag as they might be used to disguise the original source of funds and facilitate a fraudulent scheme.

APRA finalises guidance for new prudential standard on remuneration

APRA Deputy Chair John Lonsdale said: “Effective implementation of CPS 511 will strengthen the resilience of the financial sector and rein in the kinds of poorly designed remuneration practices that have damaged community trust and prudential soundn

AAT varies ASIC ban of former Spectrum Wealth director

Mr Schroeder appealed ASIC’s decision to the Tribunal.

Colonial First State to pay $20 million penalty for misleading superannuation members

The Court found that the misleading communication was intended to encourage members to stay with the FirstChoice Fund rather than move to the MySuper product.

Latham & Watkins Advises LaSalle on US$972 Million China Logistics Fund

Cross-border team represents global real estate investment manager LaSalle in final close for its first fund dedicated to the China logistics sector.

ASIC proposes extending its CFD product intervention order

ASIC will continue to monitor and assess the performance of the CFD product intervention order during the consultation period.

Capstone drops jailed adviser

"Mark Babbage is a self-employed financial adviser and is no longer an authorised representative of Capstone,"

ASIC releases 2020–21 Annual Report

ASIC also continued to build ASIC’s enforcement capability, securing $189 million in civil penalties and increasing new criminal litigation by 28%.

ASIC further extends temporary financial advice relief measures in COVID-19 instrument

ASIC decided to extend this relief after industry consultation identified that the extension would be helpful for financial advisers in the current circumstances.

MAS Monetary Policy Statement - October 2021

Private transport inflation is likely to moderate next year against a slower pace of increase in COE premiums and petrol costs.

ASIC calls on Australian CEOs to review whistleblower policies

ASIC reviewed a select sample of whistleblower policies and is concerned the majority of those policies did not fully address the relevant requirements.

ASIC cancels AFS licence of Vanda Russell Gould

This includes the obligation to hold membership of a dispute resolution system and to lodge financial statements annually.

Legal, Regulation & Compliance