Managers of Wealth Asia Pacific

China Tightens Capital Controls to Curb Bank Runs

The two bank runs in the year led to local government and police from the banks’ respective originating cities pleaded customers not to withdraw cash.

CBA and our watch provide free domestic and family violence workplace resources

Since 2015, CBA has been working with community organisations and experts to address this issue and better understand what more we can do to help

The Hong Kong Autonomy Act

The HKAA was passed by unanimous consent, and therefore with veto-proof support, by the Senate and House of Representatives.

HSBC faces cross-party pressure to support Hong Kong staff seeking escape from China

Lisa Nandy, shadow foreign secretary, says the banks have a responsibility to their Hong Kong staff

Sharjah Asset Management joins forces with largest engineering consulting firm in Malaysia

The joint venture will constitute a major value to projects in the Emirate of Sharjah, which is always keen to adhere to the policies of the open market and provide all the facilities necessary to support investment and companies of all sizes and sectors.

Indonesia may take bank regulation away from OJK and return to central bank, report says

In a report on June 29, Reuters quoted OJK Chairman Wimboh Santoso as saying that the banking industry "on aggregate" is secure.

Hong Kong law leaves companies wary of fuzzy 'red line'

Banks and retailers fear inadvertently violating national security legislation

World Economic Outlook Update, June 2020

A Crisis Like No Other, An Uncertain Recovery

APRA issues directions and imposes new licence condition on Suncorp Portfolio Services Limited

To address APRA’s concerns, APRA has imposed a new licence condition requiring SPSL to document how it considers and prioritises members’ interests when it makes decisions that materially affect their interests.

Many Hong Kong-based FPIs look to move assets to Tokyo

Many FPIs have already been developing contingency plans to move out of Hong Kong

APRA imposes new licence condition on Colonial First State Investments Limited

While APRA has not concluded that CFSIL breached the Superannuation Industry (Supervision) Act 1993, its investigation raised concerns about the adequacy of CFSIL’s internal processes for demonstrating how members’ best interests were consider

HKSAR National Security Law

Penalties for Secession include life imprisonment, fixed-term imprisonment, short-term detention or restriction, depending on the level of involvement.

Singapore Banks Join Forces to Reduce Commodity Lending Risk

The statement follows a Reuters report claiming that some 20 banks in Singapore including HSBC, DBS and OCBC had set up a working group to propose new guidelines to improve lending practices and transparency for the commodity sector.

ANZ accused of paying hush money on BBSW scandal

"The hollow men of ANZ were engaged in virtue signalling during a crisis of their own making,"

Some Observations on Hong Kong's Recent Surge in Privatisations

We have taken a look at privatisation offers launched in the past 18 months

China to launch wealth management link with Hong Kong, Macau

The plan was first announced last year and the statement says the date of the official launch has not been finalised yet.

AMP should stop whining: Slater and Gordon

Litigation funders have been under the spotlight recently, with new legislation requiring them to have an AFSL to operate in Australia.

AFCA sees 14% rise in complaints

About 73% of complaints were settled by agreement or in favour of the complainant, with banks being the most complained about financial institution.

Australia Launches Open Banking Data Sharing Regime

The big four had already made product reference data available since 1 July 2019.

AFP freezes accounts suspected of defrauding coronavirus superannuation scheme

Criminals have stolen the retirement savings of a number of Australians and about $200,000 has now been located by authorities.

Legal, Regulation & Compliance