Managers of Wealth Asia Pacific

Fusion Bank Launches Virtual Banking Services in Hong Kong

The collaboration with Tencent allows Fusion Bank customers to bind their bank accounts to WeChat Pay HK and use their bank account as a funding source for making payments.

China’s e-commerce titan Alibaba hit with antitrust probe

Company business operations remain normal.

Hong Kong Anti-Graft Watchdog Appeals Acquittal

The current appeal will not include the acquittal of a separate charge of publishing misleading information in Convoy’s 2016 annual report.

After Singapore awards digital bank licences, all eyes now on Malaysia

A year ago, the central bank said it would issue up to five digital bank licences to qualified applicants.

Singapore advice firm eyes DFM offering

AAM Advisory hoped to get the licence in place in 2020, but due to the disruptions brought by the outbreak of the covid-19, it was forced to press pause on its growth plans.

Chinese Banks Urged to Extend Financing Support to Foreign Funded Firms

Local government agencies must timely address financial services-related problems that foreign-funded companies face and promote cooperation between foreign-funded companies and financial institutions, the circular said.

Malaysia: BNM Tasks Committee With Benchmark Reform Objectives

The first key task for the FMC would be to conduct a public consultation on the identification of a suitable ARR and enhancements to existing framework for the KLIBOR, if it is to be retained.

Korea FSS Considers Imposing Limits on Bank Dividends

Korea’s four major financial holding companies recorded a cumulative net profit of KRW 9.7 trillion by the third quarter of this year, an increase of 15.1 percent from the same period last year.

Hong Kong residents eye offshore bank accounts

Offshore banking provides a way in which you can protect your assets against financial instability.

Singapore central bank extends US$60 billion swap line with Fed to September 2021

“The extension of the facility will continue to promote stability in US dollar funding conditions and anchor market confidence,”

Korea FSS Directs Kakao Bank to Enhance Risk Management

The bank is also asked to improve progress on its internal capital-related work, and strengthen controls over internal capital.

SFC previews new electronic licensing services

The new online features introduced today include web-based licensing forms with auto-fill and skip logic features and pre-set validation rules to reduce errors.

Three NSW directors disqualified from managing corporations

In making the decision to disqualify Mr Georges, Mr Youkhana and Mr Yalda, ASIC relied on supplementary reports lodged by Simon Cathro of Worrells Solvency and Forensic Accountants, as liquidator of Top Cleaning and Magic Fresh.

After a two-year project with Tookitaki, UOB rolls out AML solution based on AI

The tests, carried out in a real banking environment using Tookitaki’s Anti-Money Laundering Suite on sample transactions, verified that the AI processes were effective and were applied responsibly and ethically.

David Chin: UBS May Increase Stake in China Joint Venture

The business of the internet giants contains an element of risk that may become relevant for the system if the regulator doesn't provide clear guidelines.

Group of Five Releases Climate-Related Financial Disclosure Prototype

The group of five reiterated support for the consultation proposed by the trustees of the International Financial Reporting Standards (IFRS) Foundation, which suggested the implementation of a global-focused Sustainability Standards Board (SASB).

FSC Korea Unveils Additional Measures to Curb Illegal Short Selling

To improve transparency, the FSC will expand disclosure of market makers’ rules and their transaction activities by instrument type.

Tax agent jailed after TPB Federal Court action

The TPB issued a statement that the sentence represented a welcome outcome after a protracted investigation and litigation, during which Mr Hacker continued to act illegally.

Hong Kong Partner David Bulley Named as "Merger and Acquisitions Lawyer of the Year" at the Lawyer Monthly Legal Awards 2020

David Bulley transferred to Appleby’s Hong Kong office in June 2020

BSP reforms lift PH in global financial inclusion rankings

The Philippines improved substantially and got a perfect score of 100 in the aspect of products and outlets

Legal, Regulation & Compliance