Managers of Wealth Asia Pacific

New Zealand: Two companies fined $7.5 million for breaching money laundering laws

Breaches of the act had occurred over a five-year period, and he said “aggravating conduct” included multiple attempts to mislead the department.

Philippines seeks Qatari expertise in Islamic finance

Plaza, in the previous forum, highlighted Peza’s 10-point programme, citing plans to build ‘eco-towns’, ‘eco-cities’, and new metropolitan areas in every region in the Philippines.

Goldman Execs in Malaysia for 1MDB Negotiations

Malaysia’s attorney-general, Idrus Harun, will lead the country’s discussions with Goldman Sachs and while both sides undoubtedly hope to reach an agreement, «it depends on what GS is bringing to the table».

MAS to Seek Enhanced Powers

The harmonised power to impose requirements on technology risk management, and the provision of statutory protection from liability to mediators, adjudicators and employees of an operator of an approved dispute resolution scheme.

Rising Stars: Thailand law firms

Asia Business Law Journal’s inaugural Rising Stars series turns to Thailand’s legal market to shine a light on the challenger firms that are carving out a name for themselves.

5th UK-Singapore Financial Dialogue discusses financial markets developments and future areas for bilateral cooperation

The Dialogue enabled a useful exchange of views and of stronger financial and economic cooperation between the two countries in a number of key areas.

Laos central bank unveils new forex rules after local currency’s decline, report says

The new rules also prohibit foreign currency exchange at unregistered locations, or at rates that don’t comply with the rates set by the central bank.

Singapore Exchange Deepens Cooperation With Nasdaq

SGX and Nasdaq established a collaborative listings agreement in 2017, which helps SGX-listed companies who are looking to extend their reach in the capital markets and raise their profile in the United States.

SGX, Nasdaq Agree to Streamline Dual Listing Process

“Investors with interests in companies that have a profile in both markets will benefit from this regulatory cooperation.”

AZB advises struggling Yes Bank on US$2bn FPO

Linklaters’ team was led by its Singapore-based partner, Amit Singh, and included associate Calvin Soon.

Nomura Signs MOU related to BOOSTRY Security Token Business

Under the MOU, the three companies also plan to form a business alliance regarding BOOSTRY’s operation and business.

Family-owned trust fined $1.1 mil by MAS for breaching anti-money laundering requirements »

These failures were identified by MAS in an inspection. ATSPL has paid the penalty in full and taken remedial actions to address the risk management deficiencies that led to the breaches.

Hong Kong: Banker Exodus Around the Corner

There is no pull factor – this is all push, the person said, noting the inquiries are largely in the «consideration stage.

Taiwan Sees Opportunity in Hong Kong Exodus

Taiwan President Tsai Ing-wen has also expressed sympathy for opponents of the new law, and opened an office earlier this month to facilitate immigration from Hong Kong.

Hong Kong needs to lift its regulatory game as China’s billionaires eye Singapore for its stability, cost advantages

Greater Bay Area billionaires see Hong Kong as a natural choice for establishing family offices for investing, succession planning

Expansion of the scope of the Private Funds regime

The change makes it clear that those entities that are not actively offering, or no longer issuing, interests no longer have an argument that they may be exempt on this basis.

Australia Extends Coronavirus SME Guarantee Scheme

The Scheme has seen more than 15,600 businesses accept loans worth AUD 1.5 billion.

Iran-China deal is ‘pragmatic’: CGTN

Iran and China plan to sign a 25-year comprehensive cooperation agreement.

PH is haven for the oligarchs

President Rodrigo Duterte recently claimed that he has managed to dismantle the country’s oligarchy without declaring martial law.

China takes over companies linked to disappeared financier

Chinese authorities are stepping up their bid to maintain financial stability as Covid-19 proves ruinous for economic growth and soured loans pile up.

Legal, Regulation & Compliance