Managers of Wealth Asia Pacific

No pension increase in September

Each payment is reviewed every six months, in March and September, to reflect changes in living costs and wages.

Singapore’s iFast Corp gets Malaysia regulator’s nod for securities dealing

The company had S$11.5 billion (US$8.41 billion) of assets under administration as at June 30, 2020.

FFIS Charts Growth of Public-Private Partnerships in New Report

The report finds that public-private financial information sharing partnership collaboration enhances the quality of regulatory reporting, and improves law enforcement outcomes to disrupt criminal networks.

Taiwan to Tighten Rules on Investments from Mainland China

The amendment will also extend the definition of whether a company is considered to be under the control of Chinese capital to include those that are under executive control of a Chinese organisation

1MDB scandal: Malaysia and Goldman finalise US$3.9 billion settlement

The firm must make a US$2.5 billion cash payment to Malaysia within 10 days, sources say

Singapore: Extending Jobs Support may only delay the inevitable - Retrenchments

Foreign investments, companies and talent have been at the cornerstone of our exponential growth as a nation.

MAS bans ex-Prudential agent and ex-Bank of Singapore staff for fraud, dishonest conduct

The orders took effect from 18 August 2020.

Football: Newcastle United in takeover talks with Singapore investors

The group added that the talks with Newcastle United owner and British businessman Mike Ashley had taken place in recent days and were ongoing.

AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year

Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest

China Rushes to Ramp Up Post-Sanction Defenses

Hong Kong is facing increasing pressure from Washington over the perceived undermining of freedoms in the city.

Credit Suisse Splits Up With Australian Partner

The decision to go their separate ways came after Jarden launched a new boutique with its headquarter in Sydney, according to a separate report by «Euromoney».

RBNZ Extends Mortgage Deferral Scheme Another Six Months

As of end-July, banks have deferred repayments on consumer loans totalling around NZD 21 billion for over 61,000 customers; and business loans totalling over NZD 1.2 billion for over 3,000 customers.

China’s P2P Crackdown Leaves Just 29 Operators in Business

The initial scrutiny of the sector revolved around the use of unregulated and highly leveraged P2P loans to fuel margin trading in the stock market.

Singapore central bank picks up 11% of ICICI Bank's Rs 15,00 crore QIP

The second-large investor is Morgan Stanley Investment Management

Malaysia enters recession in Q2; central bank downgrades GDP outlook

A technical recession is defined as two straight quarters of negative GDP growth.

313 people arrested for e-commerce scams and money laundering totalling over $1.2 million

During the operation, five men and four women, aged between 16 and 56, were arrested for their suspected involvement in cases of cheating and criminal breach of trust.

CBIRC Projects ¥3.4tr in Bad Loans for 2020, More in 2021

According to Guo, the Covid-19 epidemic has interrupted the sales of well-run companies and compressed their orders, making the rebound of non-performing loans “inevitable”.

RBNZ Announces Expansion of Large-Scale Asset Purchases

In May, it was expanded from NZD 33 billion to NZD 60 billion, and New Zealand government inflation-indexed bonds were included in the programme.

FinCEN to Lift 13 Year Old Sanctions on Macau’s Delta Asia Bank

Delta Asia Financial Group chairman Stanley Au said the lifting of the was the result of “15 years of an unrelenting effort” and an important step forward for the bank.

iProsperity accused of being a Ponzi scheme

Further evidence of director loans showed that Gu was paid $21 million since July 2018.

Legal, Regulation & Compliance