Managers of Wealth Asia Pacific

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.

SFC fast-tracks simple fund authorisation to bolster Hong Kong market appeal

As the regulatory regimes of MRF jurisdictions provide comparable investor protection to that of Hong Kong and the SFC has entered into cooperation arrangements with their home regulators

IMF issues stark inflation warning for Australia

In its World Economic Outcomes report, the IMF predicted Australia would be one of two advanced economies with headline inflation above 3% by the end of next year, along with Slovakia.

CMU OmniClear Limited and SIX cooperate to open up further cross-border investment opportunities

They will also intensify their working relationship and maintain channels for the exchange of information.

Singapore Family Offices Again Face Parliamentary Scrutiny

The scrutiny remains high in the family office space in Singapore as parliamentarians continue to probe officials.

Hong Kong Policy Address: Key Financial Takeaways

Hong Kong chief executive John Lee delivered the 2024 policy address to the local legislative council on October 16.

Joint Advisory on Rise in Government Official Impersonation Scam Variant Featuring Impersonation of Banks

In September 2024, there have been at least 100 cases reported

ASIC cancels two Australian financial services licences and 11 Australian credit licences

The Licensees were required by law to be a member of the Australian Financial Complaints Authority

ASIC bans financial adviser John Hazell for two years

As a result of these concerns ASIC found that Mr Hazell is likely to contravene his obligations

Federal Court appoints liquidators to Global Capital Property Fund

ASIC applied for the winding-up of GCPF as it holds numerous concerns about the management of GCPF’s business.

Legal, Regulation & Compliance