Managers of Wealth Asia Pacific

ASIC bans Hobart adviser for four years

Ms Jennings’ banning took effect on 01 April 2021.

MAS Extends Training Support Measures to Foster Skills Development in New Growth Areas

These extended measures will be progressively reduced and cease on 1 July 2022.

Allens advises Vocus Group on $3.5bn acquisition

The acquisition was approved by Vocus shareholders and the Supreme Court of New South Wales this week.

Singapore High Court denies injunction for emotional distress and loss of control of personal data, in the first private action brought under the Personal Data Protection Act

An individual who suffers emotional distress or loss of control over personal data will only have recourse via a complaint to the Personal Data Protection Commission, but not injunctive relief.

Warning: Websites displaying fake ASIC endorsements

If you think you or someone you know has been scammed, lodge a report of misconduct with ASIC and report the matter to police.

ASIC’s application against Cigno and BHF Solutions dismissed by Federal Court

‘ASIC took this case in order to protect vulnerable consumers from what we believed to be a harmful lending model,’ said ASIC deputy chair Sarah Court.

ASIC removes the local authorised participant requirement in ETF class order

ASIC recognises that authorised participants perform an essential market making function in the market for ETFs, and that competition between market makers facilitates market efficiency and can produce benefits for retail investors.

China's prudent policy mix will pay dividends, says Amundi

The $2tn manager believes China will become a core part of global portfolios across asset classes due to Beijing's caution in embracing unconventional monetary policy.

Global banks in Hong Kong push to get staff back to office

Returning to the workplace will allow bankers to attend in-person meetings and help secure more deals in a market where mergers and underwriting deals are set to pick up pace

Law firm Khaitan & Co expands presence in South India with Assentio Legal

The focus of the Chennai office will be on advising clients on general corporate and commercial advisory, M&A, Private Equity and Venture Capital, Solvent and Insolvent Restructuring, Private and Public Investments, among others

Centrum, BharatPe to create new age bank

Centrum said that the RBI's in-principle approval is a validation of Centrum's proven expertise in financial services and BharatPe's Digital Leadership, both essential for setting up a New Age Bank.

China escalates crackdown on $US1 trillion market

“Cash wealth management products are riskier and less transparent,”

ASX200 sexual harassment transparency needed: ACSI

But board discussion on sexual harassment was generally prompted by media coverage (29%), an incident in the industry (25%) or a concern raised by a worker (24%).

ASIC extends licensing relief to all trustees of registrable superannuation entities for consistent treatment under the law

The relief applies to all superannuation trustees for a period of 18 months, ending 31 December 2022.

ASIC review of 31 December 2020 financial reports

ASIC has made inquiries of 15 entities on 22 matters.

China Steps Up Crackdown on $1 Trillion Bank Wealth Products

An estimated 2.5 trillion yuan ($390.5 billion) of the products are currently invested in assets that will soon become non-compliant, and need to be swapped for lower-yielding, high quality investments by the end of next year.

NAB working with Accenture on massive compliance fix

The National Australia Bank has brought in professional services giant Accenture on a secret project to combat shortfalls in its financial crimes compliance

MAS Announces Further Extension of the US$60 Billion Swap Facility with the US Federal Reserve and the MAS USD Facility through 31 December 2021

MAS has maintained ample SGD and USD liquidity in the banking system through its daily market operations.

How Sacred is the Right to be Heard in Arbitration?

The Singapore Courts might also have been expected to place more emphasis on the buyer’s refusal to comply with procedural directions, including the direction to submit written witness statements.

AAT dismisses application for review of ASIC banning order

ASIC found Mr Hutchison misled or deceived his clients by failing to disclose that they had been charged advice fees twice and failed to comply with the proper process for remitting and reporting the fees.

Legal, Regulation & Compliance