Managers of Wealth Asia Pacific

APRA closes investigation into Westpac anti-money laundering breaches

Having carefully considered the results of ASIC’s investigation, APRA has determined to close its investigation.

Indonesia bourse to allow dual-class shares, SPACs to draw tech firms, report says

SPACs are shell companies that raise money via an initial public offering for the sole purpose of acquiring another firm.

BOJ, FSA Urge FIs to Push Forward LIBOR Transition

The BOJ-FSA letter is aimed at helping financial institutions better understand the need to urgently take action to prepare for the cessation of LIBOR, in light of the latest announcements.

ASIC consults on implementing a deferred sales model for add-on insurance products

The deferred sales model introduces a four-day pause between the sale of a principal product or service and the sale of an add-on insurance product.

Singapore central bank to invest US$2 billion in green assets via select managers

“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey,”

FSC Korea Extends Easier Liquidity Rules for Banks

The easier liquidity rules, after an extension in August, have been scheduled to end this month. The FSC has now decided to extend the measures until end-September.

Myanmar Banks Fail to Resume Operations Despite CBM Order

The banks lack staff for functions ranging from counting money to providing payroll services to companies, the Financial Times reports.

Ogier launches Talent4Impact fellowship for next generation of ESG professionals

This is a really unique opportunity to gain exposure to the ESG and Impact at specially selected local businesses and organisations striving to transition Hong Kong to a sustainable economy.

"The Future of Capital is Green" - Keynote Address by Mr Ravi Menon

“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey.”

PwC Offers ESG Risk Management Recommendations for Banks

The PwC report outlines the typical challenges banks face as they prepare for implementation of the guidelines by June 2022.

China strengthens national security review of foreign investments

The Measures also extend to a foreign investor’s purchase of a domestic company’s shares listed on stock exchanges.

APRA agrees to court enforceable undertaking from Allianz Australia

Allianz’s weaknesses in its risk culture, risk governance, and risk management are longstanding.

Court finds that TAL Life Limited breached its duty of utmost good faith – Royal Commission referral

ASIC alleged that TAL avoided the policy without first giving notice to the consumer of a retrospective investigation into her medical history or offering her an opportunity to address the concerns raised before rejecting her claim.

APRA urges life insurers and superannuation funds to address sustainability of insurance in superannuation

APRA is concerned that, if the observed trends and practices continue, members are likely to be adversely affected by further substantial increases in insurance premiums and/or reductions in the value and quality of life insurance offered through superann

FSC Korea Issues New Rules for Non-holding Financial Groups

The new legislation, approved by the government in August and passed in the National Assembly in December, defines non-holding financial groups as those with total assets of at least KRW 5 trillion or with two or more subsidiaries operating financial busi

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