Managers of Wealth Asia Pacific

MAS Enhances its Significantly Rooted Foreign Bank Framework

Under the enhanced SRFB Framework, MAS will consider granting an additional full bank licence to an SRFB that substantially exceeds the SRFB baseline criteria.

How HSBC’s gamble on China failed to pay off

The group publicly backed Beijing’s controversial Hong Kong security law, angering critics in the west. Welcome to life on a geopolitical fault line, writes James Moore

Singapore introduces regulatory regime for insolvency practitioners as new law comes into force

Banking law expert Jia Lin Ho of Pinsent Masons, the law firm behind Out-Law, said the legislation was good news for businesses and practitioners.

China to extend grace period for asset management rules to end-2021

The grace period for implementation had been set for the end of 2020.

HSBC treads a fine line between angering China and alienating the west

The bank’s support for Hong Kong laws will see boss Noel Quinn in a tricky spot this week as he reveals its latest results

Islamic finance seen as driver for FDI inflow to Philippines, say govt officials

“Islamic banking will surely help Peza achieve its vision in promoting economic growth in the countryside,”

Regulatory, legal exam questions trip up advisers

A total of 10,239 advisers sat the exam in June - with the exam held online due to COVID-19 restrictions.

Culture Audits: Removing the Blindfold

Starling’s annual Compendium series has traced an evolution in thought regarding the supervision and governance of conduct risk among bank regulators and industry leaders, worldwide.

HKMA Relaxes Rules on Retail Sales of Government Bonds

Where there is no risk mismatch, audio-recording is not required, and a companion for vulnerable customers is not required.

PBOC Extends Deadline for New Asset Management Rules

The transitional period, originally set for the end of 2020, has been extended to the end of 2021.

Trade Bodies Jointly Commit to Tackling Market Inefficiencies

With the completion of post-crisis regulatory reforms, market participants are now turning their attention to how they can use new technology solutions to optimise their systems, processes and data, the letter says.

Singapore's DBS and GovTech pilot Singpass face verification technology

Signing up for digital banking services with DBS just got faster.

Singapore central bank revokes Apical’s licence for breach of anti-money laundering rules

The central bank reprimanded Yeh Yin Yee and Bernard Kan Cheok Yin, Apical’s only directors, for failing to discharge their duties and functions to ensure compliance with the rules. Mr. Yeh is the firm’s chief executive officer.

Singapore Industry Consultation Proposes to Discontinue SIBOR

The proposals arise from global efforts to reform interest rate benchmarks.

MAS Asks Singapore-headquartered Banks to Cap Dividends

MAS stress tests have shown that the local banks would remain resilient even under adverse conditions consistent with a serious and prolonged public health crisis.

HUB24 awards super trustee mandate

Earlier in the year, it was appointed to AIA-owned CommInsure superannuation funds.

Macquarie fired 32 people in "consequence management

"Importantly, the circumstances surrounding all of these matters were analysed and it was found that these were isolated matters with no evidence of broader systematic issues."

The Chamber of No Secrets: What Tech and Data/Content-Driven Companies Need to Know about the Hong Kong National Security Law

On 30 June 2020, the Law of the People’s Republic of China on Safeguarding National Security in the Hong Kong Special Administrative Region

ASIC bans Hobart adviser for five years

The banning of Mr Horton is part of ASIC’s ongoing efforts to improve standards across the financial services industry.

Tokyo, Sydney move to woo HK financial firms, but S'pore is top draw

Regional rivals hope to benefit from concerns over Beijing-imposed security law in HK

Legal, Regulation & Compliance