Managers of Wealth Asia Pacific

Philippine Senate Approves Amendments to AML Law

The House of Representatives approved its own version of the AML Act amendments last December.

ISDA Urges Adherence to IBOR Fallbacks Protocol

The protocol was launched in October 2020, intended as a safety net to mitigate the systemic impact of an IBOR cessation in the worst-case scenario.

Asian central banks set for holding pattern in 2021 with rates at record lows

"We expect Asia-Pacific central banks to remain on hold through 2021 for the most part," Shaun Roache, chief economist for Asia-Pacific at S&P Global Ratings, told Market Intelligence by email.

Asia Has an Opportunity to Demonstrate Global RegTech Leadership

Singapore is one Asian market where such changes are already taking place.

China issues $9bn worth of QDII quotas

Most of the recipients were fund management companies.

NTT Docomo, MUFG Bank plan to forge a business tie-up to offer financial services

SoftBank Corp and Mizuho Financial Group Inc announced in June they would partner up on financial services via smartphones

Tokyo Bourse Sets 1 Feb Launch Date for CONNEQTOR Platform

“We are pleased to announce that development has been successfully completed and CONNEQTOR will go live on 1 February 2021.”

Victorian director disqualified from managing corporations for four years

ASIC is a member of the Phoenix Taskforce, which comprises federal, state and territory government agencies who collaborate to combat illegal phoenix activity.

Seven licensees add new adviser roles

HFS’s director Colin Williams noted that those figures should be looked at very carefully as some of them might be backdated into 2020 since the licensees had 30 days to report their adviser movement.

Leading law firm for 12 areas in 3 jurisdictions in Legal 500 Asia Pacific 2021

The firm exhibits keen knowledge and fast turnaround times in banking transactions including real estate related financing matters.

Saudi Ministry of Finance inks $3b export financing pact with South Korean entities

Credit Agricole structured the landmark deal, which is Ministry's second since July 2020

China limits foreign laws' application to Chinese companies

Under the Rules, a Chinese person must tell the ministry within 30 days if a third state or region has prohibited or restricted their activity by law or other measures.

William O’Neil rolls out first onshore fund in China

The firm will be competing against several foreign quant managers that have entered China's private market. It also intends to apply for a QDLP licence.

BOJ Is Said to Mull Downgrading View of Economy Amid Emergency

The economic impact of the moves will be a key topic at the two-day policy meeting ending on Jan. 21, the people said.

Maples Group Recognised for Excellence in Asia by China Business Law Journal

The research, which is conducted annually, acknowledges 200 elite lawyers [who work] for China-related businesses (including 100 lawyers in PRC law firms and 100 lawyers in foreign law firms).

APRA publishes new FAQ for ADIs on measurement of credit risk weighted assets

The FAQ is available on the APRA

China Enhances Market Maker Rules for Interbank FX Market

Under the new guidelines, SAFE will delegate the entry and exit management of market making institutions to CFETS (China Foreign Exchange Trade System).

CBIRC Penalises State-owned Financial Institutions and Subsidiaries

ICBC’s penalty follows the arrest of two officials from its wealth management unit, reported by Caixin in December 2020.

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.

Legal, Regulation & Compliance