Managers of Wealth Asia Pacific

Shenzhen Granted Autonomy to Enact Market-based Reforms

Under the plan, Shenzhen will be able to start a stock futures index, and list innovative companies on the city’s stock market with depositary receipts.

Capital Buffer Rules May Need to Change, says BOE’s Jon Cunliffe

Regulators allow lenders to tap into their mandatory capital conservation buffer to issue credit without risking their operations or existence, but doing so limits payouts like employee bonuses, share buy-backs or dividends to investors.

NAB has been fined $15 million after its controversial $24 billion referral program blew up

The good Justice is of course well aware of what went wrong, as everyone from bankers to accountants to real estate agents milled about to get their kickbacks.

Firms in Singapore told to be responsible, sensitive if retrenching staff

The advisory was previously updated in March to lay out options employers have besides retrenchment, such as training or "time banking" unused working hours to be repaid when business picks up.

Crown Resorts Faces Money-Laundering Probe in Australia

The probe has led to revelations of numerous risk management failures and calls for changes in the board.

Ant Group gets China nod for Hong Kong leg of US$35 billion dual-listing: Source

The China Securities Regulatory Commission is also expected to approve Ant's Shanghai Star Market IPO this week.

Budget misses the mark

Klassen stressed that the insolvencies have not happened yet while another wave of infections was continuing to hit Europe and the US and demand has not recovered, even in largely virus-free countries.

PBOC Issues Draft Rules ‘Fully Revising’ Commercial Bank Law

The revisions will also strengthen financial consumer protections, enhance fair market competition, impose obligations on shareholders, and emphasise the core role of the board of directors.

SoW/SoF Checks: What Does Good Look Like?

The guidance offers examples of the good practices MAS observed, as well as instances where corroboration was inadequate.

Speech at the Hong Kong Management Association 2020 Quality Award Presentation Ceremony

We will continue to work with the banking industry to apply technology to enhancing finance for customers in Hong Kong.

Countdown Begins for Bank Sanctions over Hong Kong Autonomy

Financial institutions seen as violators risk secondary sanctions which include restrictions on U.S. loans, foreign exchange, property transactions, exports and transfers alongside measures targeting their executives.

Singapore’s central bank keeps policy unchanged

The decision was a “well-telegraphed hold” and the MAS is likely to keep its neutral policy stance through the end of 2021, said Vishnu Varathan, head of economics and strategy at Mizuho Bank Ltd in Singapore.

India’s banking sector: a liability for monetary policy effectiveness?

Before the pandemic, the ratio of gross NPAs to total assets was 8.3 per cent for the overall banking system and close to 10 per cent for government-owned public sector banks.

Chinese scrutiny increases investment risk of ‘beast’ Ant

Regulators are becoming increasingly worried about banks’ inadequate risk controls on the consumer loans business

Advisers' businesses unsustainable if only looking for cheap licensees

Also on the panel, IOOF chief advice officer, Darren Whereat, said that “discounting to growth in the long term doesn’t work”.

The Bank of Africa signs a new “Chinese” agreement

Operating in China since 2000 through its representative office, the Bank of Africa is one of the first African banks to obtain approval to open a branch in Shanghai.

FSB Issues Update on Work to Address Market Fragmentation

The FSB is also exploring other approaches that could be undertaken to address fragmentation, including in relation to potential ways to facilitate convergence in reporting of data to authorities.

FX Intervention in Hong Kong Tops Crisis Levels

The local currency is pegged against the greenback in a tight trading range of $1 to 7.75-7.85 Hong Kong dollars.

Chinese Regulators Add More Hiccups for Ant IPO

According to the report, the probe is not expected to derail the IPO though it has delayed plans for its Shanghai listing already as Ant had hoped to obtain CSRC approval last month.

HKIFA Warns Against Changing UCITS Delegation Model – Report

The changes will be under consideration in the upcoming review of the EU’s asset management rule book.

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