Managers of Wealth Asia Pacific

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.

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

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