Managers of Wealth Asia Pacific

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.

CBIRC Issues Rules for Banks on Handling of Criminal Cases

The measures prescribe that banking and insurance institutions shall undertake primary responsibility for case management.

FASEA approves University of Adelaide Historical Graduate Diploma in Global Wealth Management

FASEA is committed to continuing to assess any further applications received from Higher Education Providers in respect of courses to meet FASEA’s education standard.

Covid-19: Holding the Line - Standstill Agreements and Moratoria

Offshore companies incorporated in Bermuda, the British Virgin Islands, the Cayman Islands, Guernsey, the Isle of Man, Jersey and Mauritius are no more immune to the effects of the pandemic

MAS and CAD Commence Joint Investigation into Officers Responsible for Managing Eagle Hospitality Trust

The investigation stems from a referral by the Singapore Exchange Regulation

Shinhan, Hana team up to participate in Africa syndicated loan

Shinhan was recognized for its overseas project financing experience involving wind energy and telecommunications

Legal, Regulation & Compliance