Managers of Wealth Asia Pacific

Hong Kong Watchdog Seeks Recovery from Tianhe Scandal

SFC unveiled the issues surrounding the Tianhe listing last year including grossly lacking due diligence practices.

BOCHK partners with Schroders to launch Asset Allocation Solutions

Customers can make reference to the past performance of asset allocation portfolios and customise their own asset allocation

State Council Approves Rules for Financial Holding Companies

It is not yet known if there are any significant changes to the rules from those proposed by the PBOC last year.

MAS to Implement CMFAS Exam Changes in Q1 2020

The RES modules will be tailored for appointed representatives trading on the respective securities and derivatives exchanges, while allowing flexibility to take new combined product knowledge modules.

Philippine and Indonesia regulators ink deal to improve financial systems, boost supervision

This February, BSP, OJK and the Indonesian central bank signed another memorandum of understanding to cooperate on payment systems and digital financial innovation.

Citigroup receives Fund Custody License from Chinese Regulator

BlackRock recently announced that it has also received regulatory approval from the CSRC to establish its own wholly-owned subsidiary, with firms such as Neuberger Berman and Fidelity International also submitting applications.

Iress clears regulatory hurdle on OneVue acquisition

The board of OneVue is recommending acceptance of the Iress offer by shareholders.

IOOF denies dealer groups can influence platform inclusions

“Financial advice dealer groups cannot influence the addition of managed investment schemes to platforms or recommended product lists.”

CBIRC Fines Four Banks and Huarong for Violations

China Zheshang Bank was fined CNY 101.2 million for selling wealth management products to shift assets off balance sheet, and for interbank investment violations.

Hong Kong’s MPF hits HK$1 trillion (US$129 billion) mark for first time, thanks to rally in investment markets, says head of pension regulator

The strong recovery after a sharp fall in the first quarter reflects “the resilience and stability of the MPF system”

China to expand stock connect programme as it looks to speed up opening of its financial markets

The move comes against a backdrop of rising tension with the US over issues including trade and the crackdown on Hong Kong.

HKMA Calls on Financial Sector to Support New Recruitment Scheme

“When the economy recovers, the demand for talent will resume. It is therefore desirable for the industry to maintain its momentum in building human capacity despite the negative impact of the pandemic situation.”

Hong Kong residents seek overseas properties for exit plan

UK sees home demand surge after citizenship offer in response to security law

BSP Targets September Issuance of Digital Banks Framework

The new regime is aimed at catalysing financial inclusion as part of the BSP’s digital payments transformation roadmap.

AMP deed of release bars advisers joining class action

This clause has only come into effect since AMP Financial Planning advisers brought a class action against AMP in relation to changes made to Buyer of Last Resort agreements, Macdonald said.

Thailand securities regulator inks low-carbon economic growth pact with the UK

The collaboration will be done through two Southeast Asian programmes funded by the UK’s Prosperity Fund, a £1.2 billion (US$1.6 billion) fund set up in 2015 to help support inclusive growth and reduce poverty in partner countries.

Deloitte: The state of anti-money laundering in South Asia

While more than 80% believe themselves to be compliant with anti-money laundering (AML) standards, most banks and financial institutions in South Asia find the growing complexity of the compliance landscape to be somewhat overwhelming.

Sanctions Drive Compliance Hiring in Hong Kong

Financial institutions in Hong Kong are reportedly upping their recruitment efforts for compliance talent following the enactment of sanctions from Washington against officials from the city and mainland China.

Banks will have access to more Singdollar funds with new MAS facility

Ms Jacqueline Loh, the central bank's deputy managing director for markets and development, said that the measures will strengthen the banking sector in Singapore.

China regulator awards fund custody licence to Citigroup

Foreign asset managers were previously only allowed to sell private funds to wealthy Chinese individuals, and to provide advisory services.

Legal, Regulation & Compliance