Managers of Wealth Asia Pacific

Chinese State Firms to Take Stakes in Ant's Credit Scoring JV

The proposed credit scoring joint venture will collect, manage and analyze consumer data to score people's credit.

BIS to test international settlements for digital currencies with central banks

The project will work with multiple partners to develop technical prototypes on different distributed ledger technology platforms.

Singapore Exchange allows SPACs to be listed on the mainboard

The new rules will take effect on 3 September 2021.

The new PRC Personal Information Protection Law – Are global organizations ready for the changes (from an employment perspective)?

The PIPL has a territorial reach that is similar to the EU’s General Data Protection Regulation (GDPR) in that it applies to both operations in China

Global watchdog urges Japan to boost fight against money-laundering

Authorities in Japan have a good understanding of the money laundering and terrorist financing risks they face and have been at the forefront of AML/CFT measures in areas that present major risks for the country.

Xfers & SEBA Bank Named Finalists for Global CBDC Challenge organised by the Monetary Authority of Singapore

The joint proposal submitted by Xfers and SEBA Bank was shortlisted from over 300 applications representing over 50 countries and will be presented to the public and a panel of judges at the Singapore Fintech Festival on 08 November 2021.

Dawning of a New Era: China’s Personal Information Protection Law

Data controllers remain responsible for supervising the entities to whom they have entrusted the processing of personal information (i.e. the equivalent of a data processor under the GDPR) (data processor).

SGX requires mandatory sustainability disclosure

Companies listed on the exchange will have to make sustainability and diversity disclosures in their annual reports starting in 2023.

Chinese Regulators Survey Firms on Yuan Risk

According to the report, the recent survey, which includes inquiries about how to manage expectations and help corporate clients with FX hedging, was similar to the ones done in 2014 and 2016

ANZ, Citi, HSBC and Standard Chartered in the running for MAS digital currency prize

The proposals from the finalists sought to address multiple problem statements through a variety of technology approaches including hardware wallets, digital identity and asset tokenisation.

MAS Announces 15 finalists for the Global CBDC Challenge; over 300 submissions from 50 countries received

The finalists, comprising financial institutions, FinTechs and technology solution providers, will progress to the Acceleration Phase of the Global CBDC Challenge, before they pitch their solutions to a panel of judges

Chinese Regulators Target Finance-Related Online Content

Commercial websites and platforms will be ordered to clean up finance-related posts and close accounts

Former Queensland financial adviser faces criminal charges for breaching ASIC banning order

Mr Toledo’s partner at the time was the sole director of Premier Realty Group.

APRA releases final remuneration prudential standard

Deputy Chair John Lonsdale said the finalised standard was a key milestone in APRA’s drive to transform industry practices in governance, risk culture, remuneration and accountability.

APRA’s new Corporate Plan focuses on protecting today, while preparing for tomorrow

The latest Corporate Plan is based around the strategic theme of “protected today, prepared for tomorrow”.

China Orders Banks to Speed Up Ditching Nonstandard Wealth Management Assets

Regulators in the first half of this year already ordered banks to speed up the disposal of remaining nonstandard credit assets, the person said.

NAB to pay $18.5 million penalty for fee disclosure statement failures

The Court acknowledged NAB’s efforts to make early admissions of liability and took this into account in determining penalty.

ASIC publishes Corporate Plan 2021-25

‘ASIC has an important role to play in promoting economic recovery and confidence in the financial system, especially in the face of the ongoing pandemic.’

As Artificial Intelligence becomes more mainstream, ESG considerations are a key part of ensuring responsible adoption

Broad applicability of AI across society must be handled carefully and professional accountants have a key role to play

BIS Innovation Hub and HKMA investigate how tokenized green bonds can improve sustainable investment

After starting with design thinking workshops, the development teams are now working in iterative sprints to build the prototypes, collaborating with key stakeholders in the Hong Kong financial ecosystem.

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