Managers of Wealth Asia Pacific

Korean Financial Groups to Start Publishing Integrated Disclosures

Pursuant to the best practice guidelines on the supervision of financial conglomerates

Hong Kong Banking Compliance: A Convolution of Contradictions

Global banks have always lived in contradictions

Malaysian FIs to Pilot Implementation of Climate Risk Taxonomy

According to the joint statement, a revised document will be published in early 2021

Bank of Japan keeps policy on hold, upgrades economic view

The BOJ revised its assessment of conditions, saying the economy has started to pick up with activity resuming gradually.

Aware Super joins forces with Dutch pension fund

Following the agreement, APG and Aware Super hold an equal economic interest in City ID, which the Dutch pension fund acquired a stake of in 2019.

Singapore trader Rhodium sued by Maybank for US$3m payment

The Kuala Lumpur-based bank didn't accuse Rhodium of any wrongdoing, or provide reasons for the default.

Thailand’s SEC Proposed to Raise Fees on Futures Trading

The SEC says it is “still assessing the new fee structure” and will evaluate opinions received from business operators, the SET (Stock Exchange of Thailand) and other stakeholders in the capital market.

APRA, ACCC Update MoU on Financial Sector Cooperation

APRA and the ACCC also agree to seek input from, or collaboration with, each other to achieve or improve regulatory outcomes, particularly in policy development, industry consultation, and statistical collections.

Australia eyes trade with India as China spat exposes dependence

This has Australia looking to its democratic, cricket-loving ally to fill the void.

State Street cops $1.25m fine from AUSTRAC

State Street was handed a $1.25 million fine by AUSTRAC for allegedly breaching 99 times its obligation to report international transfers to the agency under Anti-Money Laundering and Counter-Terrorism Financing laws.

Hong Kong Govt Enhances 100% Loan Guarantee Scheme

The total guarantee commitment is being raised to HKD 70 billion, according to HKMC Insurance

Changes to Hong Kong OFC Regime Take Effect Immediately

Private OFCs are no longer subject to investment restrictions and securities brokers are now eligible to be OFC custodians, among other changes.

Standard-setters Kick Off Initiative to Harmonise Sustainability Reporting

The IFRS Foundation is proposed as the body that is “optimally positioned” to lead and coordinate the creation of a new sustainability standards board.

The Storm before the Calm or the Calm before the Storm?

Analysis of market positioning suggests that traders do not have significant sterling shorts yet.

Raffles Family Office Seals Three-Year Partnership with Juventus

The partnership will see RFO and Juventus collaborate on a range of branding and marketing activations including exclusive incentives for RFO's ultra-high-net-worth clients, business partners and employees.

Hong Kong crime family arrested in HK$3 billion money-laundering investigation

Parents and three children had over 100 personal bank accounts between them, with officials looking into 6,000 suspicious transactions

NAB super entities hit by $57.5 million court penalties

The Federal Court made declarations to the effect that NULIS and MLC Nominees breached the ASIC Act for misleading and deceptive conduct and by making false or misleading representations, for which the civil penalties have been ordered.

China Tightens Against Non-Financial Players

Qualified companies that are denied regulatory approval must sell their stakes in the financial companies or give up control.

Australian Ethical rejigs insurance

In addition, the premiums members will pay are set to be based on age, gender at birth and occupation, increasing annually on the members' birthday.

Trial of former JPMorgan banker begins in Hong Kong with plea of not guilty

Leung made no comment in court apart from her plea and declined to comment when approached by Reuters after the first day of her trial.

Legal, Regulation & Compliance