Managers of Wealth Asia Pacific

Aviva lambasts UK banks' stance over Hong Kong

And Aviva has become the first major backer of the banks to put on record their objections to the decisions.

BOK to Form Dedicated Digital Innovation Division

The new division, headed up by a ‘chief digital strategy officer’, will be tasked with studying (among other things) the use of artificial intelligence and big data to provide more precise economic data and forecasts.

Radical Steps Needed from Vietnam Banking Sector

The Basel Accords are a series of international banking regulations that were created by the Bank for International Settlements (BIS) to enhance bank capital and reduce market and operational risk within the global banking system.

China Watchdog Reassures Hong Kong’s Financial Hub Status

Hong Kong’s role as a global financial hub will be further consolidated, the CBIRC spokesperson added.

Malaysia says US$3bn not enough to end 1MDB case

Malaysian Minister of Finance Tengku Zafrul Aziz, who joined the three-month-old government from the corporate world, said that he had held a conversation with Goldman Sachs representatives last month.

ASIC mainly concerned with media releases: Lawyer

"ASIC needs to show the world how tough it is,"

CBA coughs up $5m over RC case study

ASIC deputy chair Daniel Crennan agreed that the bank's conduct was the result of inadequate internal processes

China security law for Hong Kong sparks worry for asset managers

The law seeks to ban acts or activities that endanger Hong Kong’s security, such as subversion and terrorism.

Hong Kong residents rush for offshore accounts

The city’s de facto central bank has sought to allay concerns, saying it has all the means necessary to defend the Hong Kong dollar’s peg to the greenback.

Hong Kong Court continues to recognise and assist Mainland insolvency proceedings

This decision offers additional comfort to Mainland administrators that the Companies Court in Hong Kong is prepared to remove hurdles to assist the performance of their duties within Hong Kong.

Commonwealth Bank addresses technology-facilitated abuse

The new acceptable use policy makes it clear that it is unacceptable to use our digital services to stalk, harass or intimidate any person and if we see this we may refuse transactions or close a perpetrator’s account entirely.

Foreigners over the past year have considerably increased the volume of deposits in Singapore banks

As reported by FT top Manager of one Singaporean Bank having an office in Hong Kong, the growth of deposits in foreign currency was “higher than usual” – 20% from April 2019.

Financial companies in China see expansion in Q1 total assets

The insurance industry saw a total of USD3.07 trillion in its total assets, increasing 13.7 percent compared to a year ago.

Malaysia Seeks Greater 1MDB Settlement from Goldman Sachs

CIMB Chief Steps Down to Take Finance Minister Role

Chinese Regulators Respond to US Threat Against Hong Kong

The new law is now being drafted and is expected to promulgate in Hong Kong in the coming months.

Australia to Further Tighten Foreign Investment Approval Process

In Australia’s case, Frydenberg said the new rules are not aimed at China, and that the foreign investment framework will “remain non-discriminatory”.

New regulation strengthens cyber supply chain security in China

These replace the previous regulations on the security review of network products

MAS' Response to Queries on Fund Flows

The growth in foreign currency deposits has come from diverse sources and for varied reasons.

‘Sins of Omission’ at Heart of Westpac Laundering Breaches

“This saga reveals that major sins were ones of omission and not of commission,” the report commissioned by the bank said.

The HKMA and the banking industry launch the Banking Talent Programme

The Programme targets fresh graduates from local universities who will be offered six-month work opportunities and industry-specific training.

Legal, Regulation & Compliance