Managers of Wealth Asia Pacific

APRA completes first phase of its Superannuation Data Transformation

APRA Deputy Chair Helen Rowell said the completion of Phase 1 would be a major step in APRA’s efforts to lift industry standards and weed out underperformers.

Korea’s New AML Law for VASPs Set to Take Effect

VASPs engaged in the purchase and sales, exchange and transfer, safekeeping and administration, intermediation and brokerage of virtual assets and virtual asset transactions would be required to comply with the new regulation.

MAS and ABS: Prepare for Agile Working

The report said it forsees FIs embracing remote working as part of their culture and tapping into different areas outside the CBD for workplace options near home.

Singapore businessman linked to alleged fraud of record $1 billion charged

The Commercial Affairs Department has seized $100 million of assets from Ng.

APRA Warns ADIs of Risks from Indemnities in Divestment Transactions

Indemnity types should also be clearly distinguished to reflect the difference in risk profile of the underlying exposures.

Central banks’ unenviable taper dilemma

While central banks are clearly not responsible for today’s investment decisions

ASIC to adopt ‘no-action’ position for AGMs

The details of the ‘no action’ position will be made available over the coming days and will include guidance around the appropriate approach to conducting virtual meetings.

Taiwan Central Bank Tightens Controls on Property Lending

The central bank said the credit controls aim to stem property speculation by highly leveraged borrowers, and would not affect people with real demand or urban renewal projects.

Malaysia SC Probes Share Disposals by AmBank Execs

AmBank said it had received notification from the three senior officers on share sales, but did not reveal the receipt date.

China crackdown cuts Big Tech down to size

"These actions look quite reasonable."

China central bank head says policy needs to selectively support growth, curb risks

The comments were published by the PBOC on Sunday.

Malaysia regulator to unveil 2021-2025 capital market masterplan in second half

The SC did not say why the new plan covers a much shorter duration

ANZ, CBA settle class action

ANZ also settled court action with ASIC in 2017 for a confidential and in-principle agreement and in 2018, Westpac was ordered to pay $3.3 million for contravening the ASIC Act in the BBSW saga.

HKMC Signs MoUs with Five Partner Banks on Infrastructure Loans Framework

The MoUs could assist the partner banks in identifying infrastructure-related loan assets for the HKMC, and would further the mandates of the HKMC’s Infrastructure Financing and Securitisation business to fill the infrastructure financing market gap

Information Sheet 250 Giving AFS and credit licensees information about their representatives

INFO 250 outlines ASIC’s approach to giving licensees information about a representative.

JPMAM expands China wealth management partnership

JP Morgan Asset Management plans to take a 10% stake in CMB Wealth Management.

Five development projects worth RM9.63 mln for Labuan in 2021

The new project for this year will be the new cell sanitary landfill and upgrading works on the leachate treatment plant worth RM2 million, revised from the estimated cost of over RM31.68 million.

Hong Kong bankers work around the clock as IPOs, SPACs surge

Companies are trying to “get the deal done as soon as they can,” said Stephanie Tang

Banks should pay advice exit levy: TAA

TAA chief executive Neil Macdonald said the ASIC levy is only being charged to those who are choosing to remain in the industry.

Herbert Smith Freehills advises Malaysia’s EPF on launch of world’s first and largest Shariah private equity SMA fund

The fund will comprise three SMAs of US$200 million each, with each SMA managed by a separate private equity fund manager — BlackRock, HarbourVest Partners LLC and Partners Group AG.

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