Managers of Wealth Asia Pacific

FATF President Calls on G20 to Fully Implement AML Standards

Pleyer points to human, drugs, arms and wildlife trafficking, as well as corruption and terrorism, as some of the consequences of ineffective action against money laundering. “

Are asset consultants caught in the same ‘independent’ trap as financial advisers?

They pointed to Section 923(a) of the Corporations Act dealing with restrictions on the use of certain words and expressions and said that it did not expressly solely cover retail financial advice delivered to a financial adviser whilst excluding wholesal

IOOF encounters attrition amongst Godfrey Pembroke advisers

Confirming the approximate 75% adviser number to Money Management, Manzouratos noted the manner in which IOOF had recognised the underlying spirit of the Godfrey Pembroke adviser group with a seat on the licensee board.

Redomiciling A BVI Or Cayman Islands Company To Singapore

For a company to redomicile, it must be permitted to do so in both its originating jurisdiction and in its destination jurisdiction.

CBIRC Approves Bankruptcy Filing by Baoshang Bank

The PBOC (People’s Bank of China) had said in August that it would allow Baoshang to file for bankruptcy and liquidate any remaining assets.

China Vows ‘Zero Tolerance’ for Bond Issuer Misconduct

In a Saturday meeting chaired by China’s vice premier Liu He, the FSDC said it would strictly investigate any bond issuer suspected of fraudulent issuances

FSB Warns of Sharp Falls in Asset Prices from Climate Risk

Climate risks could lead to “abrupt” risk premia hikes across a wide range of assets, which could in turn alter price movements in multiple sectors and jurisdictions, also amplifying credit, liquidity and counterparty risks

Malaysia introduces framework for Islamic impact funds

Impact funds in Malaysia are expected to gain traction, according to industry sources.

Conyers Announces Recipient of Annual Hong Kong Commercial Law Prize 2019-2020

This annual scholarship is one of the many ways through which Conyers supports students and future legal practitioners.

MAS enhances RMB liquidity through a new RMB 25 billion initiative for banks

The initiative will deepen RMB liquidity and further strengthen banks’ ability to meet the growing RMB business needs of their customers in Singapore and the region.

The Personal Information Protection Law (draft) and practical advice on Implementing the multi-level protection scheme

Law enforcement bodies have also stepped up their efforts in inspecting the implementation of MLPS. Companies are often baffled by numerous standards and technical requirements and therefore facing more compliance challenges.

Hong Kong Proposes to Shorten IPO Settlement Time from "T+5" to "T+1"

Below are the tasks each user group is expected to conduct on FINI and the activities to be conducted off the platform

South Pacific Nations Complete First Phase of KYC Facility Project

“The catastrophic impact of Covid-19 on the South Pacific economies has heightened the need to accelerate progress on this initiative.”

FSC Korea Set to Implement Financial Benchmark Act

The enforcement decree provides details on the operational rules that administrators of critical benchmarks should establish.

SGX to Enhance Clearing Member Default Management Process

Such loss will be covered by the defaulting member’s collateral.

Hong Kong strives to join regional trade deal RCEP, says Finance Secretary

China supports Hong Kong joining the RCEP.

Thailand regulator proposes mandatory ESG training for capital market participants

“The ESG-focused business practice and investment help to promote sustainable investment,” the SEC says in statement posted on its website.

March Market Turmoil Highlighted MMF Vulnerabilities: IOSCO

The MMF industry plays an important role in the real economy by supporting the short-term funding needs of banks

Philippine central bank pressured to cut rates again as growth outlook dims further

The central bank of the Philippines cut its policy rate by 25 bp as economic growth prospects worsen after a spate of typhoons

ASIC releases consumer research on insurance in super

There are over 20 million superannuation accounts and around half of these have life insurance attached.

Legal, Regulation & Compliance