Managers of Wealth Asia Pacific

Singapore introduces tougher regulation for virtual payment service providers

The new regulatory control will apply regardless of whether the providers possess the money or cryptocurrencies involved.

Key Regulatory Developments in Hong Kong and Singapore: December 2020

The SFC views the proposed investor identification regime as being consistent with developments in major jurisdictions, including the United States, Europe, Australia, Singapore, and China.

China Development Bank former chairman jailed for life

Hu Huaibang becomes 2nd high-profile financial executive sentenced in a week

China Revises Upper Limit on Overseas Lending, Borrowing

China made the same change to overseas borrowing limits for domestic financial institutions in December.

Baillie Gifford obtains QDLP license

Just after it set up its private fund management business last year.

ASIFMA, Ashurst Issue Report on APAC Readiness for IBOR Transition

Harmonisation is needed on recommended ARRs, spread adjustment methodology and timing for transition, including in relation to Islamic and non-linear products, the report says.

ASIC approves variations to the Banking Code

ASIC previously approved the Code, as a whole, in December 2019. That Code commenced on 1 March 2020. On 1 January 2021, as part of the Financial Sector Reform (Hayne Royal Commission Response) Bill 2020, which received Royal Assent on 17 December 2020, a

Death penalty handed to former asset manager in China

He was convicted of graft, corruption and bigamy

Deutsche Bank facilitates margin trade for offshore investor in China

New QFII, RQFII measures expand investment scope for foreigners, increase diversification

Law Society of Hong Kong Honors Morrison & Foerster with Pro Bono and Community Work Recognitions

The award honors local and foreign law firms who have demonstrated outstanding commitment to volunteer pro bono and community work.

APRA Announced Further Reduction in Committed Liquidity Facility

If outstanding government securities continue to increase beyond 2021, the CLF may no longer be required in the foreseeable future.

China and EU conclude investment agreement

The agreement will provide a fair market climate for EU investors with clear rules on Chinese State-owned enterprises (SOEs), transparency in subsidies, prohibition of forced technology transfer and other distortions.

China says US sanctions have no ‘legal effect’ in Hong Kong or China

Last month, the US also sanctioned 14 members of the National People’s Congress, the Chinese legislature, for their role in drafting the new national security law for the city.

SEC issues regulations on the issuance and offer for sale of insurance capital bond

The new regulations allow insurance companies to issue and offer for sale of insurance capital bonds.

The Job Of Tomorrow

Some jobs will disappear and others will emerge as the world faces a dual disruption

ASIC commences civil penalty proceedings against Squirrel Superannuation Services

ASIC alleges that between around March 2015 and July 2018

Appleby Acts as Cayman Counsel to Datang Group Holdings Limited

The Appleby team was led by Asia Group Head and Partner Judy Lee and Partner Chris Cheng with assistance from Legal Manager Kaile Yang.

Taiwan regulator may ban Fuh Hwa from BLF mandates over bribery scandal

Mr. Yu allegedly received bribes from Taiwanese investment firm PJ Asset Management to buy local stocks at prices higher than market value using BLF money.

Shanghai, Shenzhen Bourses Implement Revised Delisting Rules

The draft rules specified that companies found to be inflating their net profit or total profit by more than 100 percent for three consecutive years would be mandatorily delisted, provided that the total inflated amount is more than CNY 1 billion.

Carey Olsen partners featured on China Business Law Journal's 2020 A-List

To identify the leading individuals, researchers invite thousands of in-house counsel and China-focused lawyers at both PRC and international law firms to nominate those they consider to be the top private practice lawyers for the Chinese market.

Legal, Regulation & Compliance