Managers of Wealth Asia Pacific

ASIC announces new enforcement priorities with a focus on cost of living pressures

We will also target conduct that exploits superannuation savings, with a particular focus on unscrupulous property investment schemes.

SFC Circular on deficiencies and substandard conduct in management of private funds and discretionary accounts

The Circular applies to asset managers who manage private funds and discretionary accounts in the form of an investment mandate or a pre-defined model portfolio.

ASIC seeks feedback on proposed guidance on sustainability reporting regime

This includes specific guidance on ASIC’s approach to granting relief from the regime and use of its new directions power.

Hong Kong Approves First Brokers for Cross-Border Wealth Management Scheme

This announcement represents a key step for the brokerage sector and the WMC program, boosting financial connectivity within the Greater Bay Area and strengthening Hong Kong's wealth management industry.

Bank Indonesia and Monetary Authority of Singapore Further Extend Bilateral Financial Arrangement to 1 November 2027

The longer extension period of three years, compared to one year previously, reflects the good financial cooperation between the two central banks in preserving monetary and financial stability in both countries amid global macroeconomic uncertainties.

Hong Kong Approves First Brokers for Cross-Border Wealth Management Scheme

SFC unveils first batch of brokers joining Wealth Management Connect Pilot Scheme

The SFC will continue to work with stakeholders to further enhance and expand the WMC scheme

MAS Announces Plans to Support Commercialisation of Asset Tokenisation

By connecting a broader set of participants’ products and services across multiple currencies and assets, greater improvements in capital raising, secondary trading, asset servicing and settlement of tokenised assets may be realised.

PIF and Hong Kong Monetary Authority sign memorandum of understanding for investment fund at FII8

The signing of this MoU is a new milestone and underlines the economic ties between two leading institutions – PIF and HKMA.

ASIC sues Oak Capital alleging unconscionable conduct designed to avoid the National Credit Code

In most cases, the individuals seeking the loan provided their own homes as security.

MAS Imposes Composition Penalty on Atrium Asia Investment Management, Reprimands CEO

MAS has also issued a reprimand to AAIM’s Chief Executive Officer (CEO), Mr Mintarja Oei, for failing to ensure AAIM’s compliance with MAS’ AML/CFT requirements.

SFC Obtains Court Order to Freeze $6.35 Billion of Assets Belonging to Suspected Manipulators of Ding Yi Feng Shares

The interim injunction order remains in effect until further order of the Court.

FedHermes' $3.4bn Asia star backs China valuations, not policy

Well-known Asia investor Jonathan Pines' $3.4bn Federated Hermes Asia ex-Japan Equity fund has a chunky overweight to China, but his biggest ever India underweight.

South Korea Reportedly Indicts BNP Paribas

Previously, BNP Paribas was ordered to pay an 11 billion won ($7.9 million) penalty for naked short-selling, alongside an 8 billion won penalty for its local brokerage unit.

MAS and IMDA Announce Implementation of Shared Responsibility Framework from 16 December 2024

MAS will introduce an additional FI duty to require real-time fraud surveillance directed at detecting unauthorised transactions in a phishing scam that result in account draining.

MAS Announces Finalists for the 2024 Global FinTech Hackcelerator and FinTech Excellence Awards

The winners will be revealed at the SFF FinTech Excellence Awards 2024 dinner on 7 November 2024.

Tookitaki's Anti-financial Crime Ecosystem helps Banks and Fintech Fight Financial Crime

FinCense integrates seamlessly with the AFC Ecosystem, providing financial institutions with access to a global network of financial crime experts.

APRA amends operational risk financial requirements for superannuation trustees

The changes aim to strengthen operational resilience by ensuring trustees can better access the financial resources held to meet the ORFR when needed and to maintain an appropriate level of reserving.

ASIC cancels AFS licence of Next Generation Advice

ASIC has specified that Next Gen must continue its membership of the Australian Financial Complaints Authority (AFCA) until 17 October 2025.

ASIC alleges QBE misled customers over pricing discounts

ASIC Deputy Chair Sarah Court said, ‘ASIC alleges QBE’s pricing model potentially eroded the discounts received by over half a million customers, in some cases to nil.

Legal, Regulation & Compliance