Managers of Wealth Asia Pacific

SFC bans Masy Lo Mee Chi for eight months

The case was referred to the SFC by the Hong Kong Monetary Authority.

Jokowi pledges central bank to remain independent

Jokowi told a briefing with foreign correspondents that the central bank would remain independent, when asked about the recommendations, adding he had no plans to issue an emergency decree to change BI’s role.

Convicted billionaire Ng Lap Seng sued over $1.9 million legal bill

The Law Firm of Hugh H. Mo on Monday sued Ng in U.S. District Court in Manhattan, alleging that Ng “simply failed and refused to pay” $1.9 million in fees, plus interest and other legal costs.

Departing HK residents withdraw $167mln in pension funds in Q1, up 32% y/y

The number of claims was at 7,600 in the first quarter, up 11.8% from 6,800 in a year ago period

Hong Kong Accounted for 54% of the Total APAC Data Center Investment Volume in 2020YTD

Hong Kong is an ideal data center location. According to the latest research by Cushman & Wakefield, the city ranked the fourth most attractive data center location in APAC, trailing Singapore, Sydney and Tokyo.

Deloitte report reveals that Private Banks need to overhaul their AML processes

The survey also reports that many banks face challenges in meeting heightened regulatory expectations pertaining to AML and enforcing AML processes.

Managers say Abe resignation won’t derail Japan’s policy efforts

Mr. Abe will remain influential within Japanese politics and the Liberal Democratic Party, which is "important from a continuity perspective.

PBOC to Promote Interbank Repo Rates in Financial Products

The PBOC intends to promote the use of interbank repo rates in financial products including floating-rate bonds and floating-rate interbank certificates of deposit.

Hong Kong, China regulators approve four ETFs for cross listing

The China funds will invest in the Hong Kong ETFs through the Qualified Domestic Institutional Investor programme, which allows Chinese investors to invest outside of the country.

17th SSQ ALB China Law Awards 2020

The ALB China Law Awards recognise the excellence and outstanding achievements of China’s leading law firms and in-house legal teams, as well as the top deals and dealmakers of the past year.

Singapore watchdog says falsehoods around financial sector hiring ‘unfair’

“Singaporeans are generally doing well in the financial sector, but MAS would like to see more of them move into the senior ranks,” the central bank said in the statement.

ASIC grants frozen fund relief

ASIC is granting new relief measures to help investors facing financial hardship get access to money stuck in frozen funds.

FSC Korea Extends Easier LCR Requirement Six More Months

The move is aimed at easing potential funding stress that could arise if volatility returns, and ensuring financial institutions can continue to provide funding to companies amid the Covid-19 pandemic.

Bankers, lawyers on board for IOOF’s tilt at MLC Wealth

Investment bank Citi and law firm Allen & Overy are helping IOOF with its bid for National Australia Bank’s MLC Wealth.

Hong Kong media executive says HSBC accounts frozen after arrest

Pompeo was retweeted by Jimmy Lai, the owner of Apple Daily and a fierce critic of Beijing, who was arrested alongside Cheung.

Taiwan CSD Launches Consolidated Access to ESG Ratings

The Dashboard will be delivered on the TDCC Investor Relations Platform, an ESG initiative aimed at encouraging sustainable investing and enhancing companies’ performance on ESG issues.

Aus Unity appoints CIO

Kerr-Smith said Fernandes’ leadership experience would improve the firm’s investment capability during a period of heightened economic uncertainty.

Singapore Asset Manager Plans Indochina Expansion

Evergreen Assets Management is launching a fund to raise S$100 million ($73.27 million) to build on its decades-long track record of doing business in Indochina.

‘Need strategic investments in redesigning anti-money laundering compliance in banking’

The report highlights siloed risk management approaches across banking operations, customer due diligence, sanctions screening and trade-based transactions as the root cause for systemic inefficiencies leading to fraud.

ASIC Ends Years-old Probe into CBA’s AML Breaches

The bank ultimately settled the case for a record AUD 700 million (USD 506 million) penalty.

Legal, Regulation & Compliance