Managers of Wealth Asia Pacific

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.

BOT to Continue THBFIX Publication until Mid-2023

This timeline was initially set in November 2020. New financial products should instead reference THOR.

RBA Keeping ‘Close Eye’ on LIBOR Transition Progress

Australia has adopted a multiple-rate approach, where both the local credit-based benchmark, BBSW, and the risk-free case rate, AONIA, will be used.

Australia to Expand Scope, Length of Fintech Select Committee

Bragg said he expects the Committee to focus on removing more barriers to Australian growth as a technology and finance centre.

ASIC restricts TBG Diagnostics Limited from relying on reduced-disclosure rules

ASIC’s decision was based on TDL’s failure to lodge a financial report, directors’ report and auditor’s report for the company’s financial year, which ended 31 December 2019, within 3 months after the end of that financial ye

New regulations aim to ease foreign direct investment in Indonesia.

Non-fiscal incentives to encourage FDI include immigration law relaxations for foreign personnel and what has been described as a ‘fairer’ labour regime when it comes to hiring and firing.

New York Court Reinstates SIBOR Manipulation Lawsuit

In 2013, the MAS (Monetary Authority of Singapore) censured 20 banks

Legal, Regulation & Compliance