Managers of Wealth Asia Pacific

CSRC Issues Final Rules on Convertible Corporate Bonds

The rules also enhance requirements for issuers to disclose major events, and set out measures to improve conversion price determination, amendment and adjustment by issuers.

RBI Directs Banks to Enhance Internal Audit Function

A minimum period of service for staff in the internal audit function should be specified by the Board, except for entities where the internal audit function is a specialised function and managed by career internal auditors.

SEC bans a former investment consultant for 4 years and 8 months due to wrongful acts against an investor’s asset

Following the investor’s complaint and SEC’s further investigation

PBOC Outlines Work Programme, Policy Priorities for 2021

The annual work meeting featured speeches from PBOC governor Yi Gang and deputy governor Guo Shuqing.

ASIC cancels AFS licence of Halifax Investment Services

The joint hearing of the Federal Court of Australia and High Court of New Zealand seeking orders in relation to the distribution of client moneys held by Halifax commenced on 30 November 2020 and concluded on 9 December 2020.

Walkers adds 25 Bermuda Registered Associates in Asia

Walkers adds 25 Bermuda Registered Associates in Asia: Becoming the second largest Bermuda legal offering in the region

MAS urges Singapore consumers to replace physical notes with remote e-gifting over Lunar New year

For those who prefer giving new physical notes, five banks will implement an online reservation system for such notes.

Taiwan FSC Approves Banks for Second Phase of Open Banking

The seven banks included in phase two are South China Commercial Bank, Yuanta Commercial Bank, CTBC Bank, Mega International Commercial Bank, First Commercial Bank, Cathay United Bank, and Far Eastern International Bank.

Won’s Strength Puts Spotlight on Bank of Korea Policy Meeting

Korean officials will also be wary of raising the ire of the U.S. with any large scale intervention after the Treasury Department kept the country on its monitoring list in December.

Top accounting professional cited

A Certified Public Accountant, Marivic served various positions in the Philippine Institute of Certified Public Accountants (PICPA), including the 2017 Chairmanship of the Metro Manila Region and national director for several terms.

EFCO Limited, New Zealand announces collaboration with Shariyah Review Bureau, Bahrain for Islamic Financing products in New Zealand

The engagement comes as EFCO integrate Shari’a compliance to its set of assets & debt-based products.

Australian banks among most fined

Australian banks came in second place, with just three fines managing to add up to US$981 million.

SGX RegCo Raises Audit, Valuation Standards for Listed Firms

“SGX RegCo may direct the appointment of a second auditor if the market still has not obtained sufficient assurance on the areas of concern after the use of these tools,”

WAM sees court win over Keybridge

"The implications of the late notice were that WAM Active would not have been able to lawfully acquire all of the processed shares, even if the Takeovers Panel had not determined the bid to be void."

AUSTRAC reviewing data on Vatican money transfers

The data raised eyebrows in Australia and the Holy See, given the number of transfers and amounts that appeared to be greatly out of line with the Vatican’s financial reality.

Ogier advises Singapore sovereign wealth fund on urban logistics joint venture

The joint venture will be seeded with a US$220m portfolio of 18 UK assets in prime locations owned by Kennedy Wilson.

Amendments to Requirements for Labuan Business Activity Gazetted

Labuan and the minimum number of full time employees in Labuan that have to be fulfilled by a Labuan entity

China Issues New Rules to Protect from Foreign Sanctions

The Chinese government can also prohibit domestic companies and individuals from complying with punitive measures mandated by foreign governments.

Wall Street banks to delist derivative products linked to China Telecom, China Mobile and China Unicom in Hong Kong to comply with US sanctions

The delisted derivatives represent about 4 per cent of over 12,000 derivative products in Hong Kong

Maybank sees faster inflation, steady interest rates this year

The BSP slashed interest rates by 200 basis points last year, including the surprise 25 basis points cut last Nov. 19, to boost market confidence and encourage consumers and companies to borrow more from banks.

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