Managers of Wealth Asia Pacific

Indonesia needs a better clean energy policy

At the moment, the market and regulations only allow industry consumers in Indonesia to use electricity from renewable energy through option 1 and 3.

HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant

The only deviation identified concerned the delayed implementation of a 5 percent RSF (required stable funding) factor for derivative liabilities, which took effect on 1 January 2020.

MatchMove confirms bid for Digital Banking License

Shailesh Naik, Founder and Group CEO, MatchMove, said “At its core, MatchMove aims to improve the quality of people’s digital life by extending essential and safe banking services to them anytime anywhere.

CBA runs AI over 230,000 words of ASIC regulation

The Australian Securities and Investments Commission] ASIC participated as an observer in the project.

NBC calls for cashless payments

Many merchants are using this method of payment with other Prasac account holding clients.

Banks defer small business loan repayments

The package was developed following discussions with APRA and ASIC to provide the appropriate regulatory treatment, though still requires authorisation from ASIC.

Singapore regulator bans six advisers

For between six and 12 years after they cheated clients out of their money

Prudential Inks Bancassurance Deal in Thailand

This agreement requires the novation of TMB Bank's current bancassurance distribution agreement with another insurance group, which will cost Prudential 24.5 billion Thai baht ($754 million), which will be paid in two installments.

Foreign funds wield voting power to separate management, ownership in Korea Inc

BCI is reportedly opposed to management other than the CEO sitting on the board.

Anti-Bartlett clauses: what are the lessons to be learned from Zhang Li?

Update prepared by Stephen Alexander (Partner, Jersey) and Tony Pursall (Consultant, London)

HSBC rolls out Singapore's first green loans for SMEs

This will be a shift from the current practice by corporates which are reviewed externally based on the Green Finance Frameworks.

Ashurst Australian Offices Still Open, Many Staff Work From Home

The global firm said it is following advice from governments in all jurisdictions, and teams are ready to work remotely if the relevant government suggests this.

Call for pause on default insurance changes

While some provisions are already in force, the majority of the reforms is set to take effect from April 1, putting vulnerable Australians at risk, according to Slater and Gordon principal lawyer Annemarie Gambera.

Perpetual exits MySuper

Perpetual MySuper ranked 21st for one-year returns to June 2019, however it sits in 52nd place over five years.

Corruption And The Coronavirus

How to prevent the abuse of power during a global health pandemic

Management of coronavirus contagion containment in workplaces - Withers

Such has now paved the way to new measures (temperature scanning, self-assessment forms on 14 days’ previous Coronavirus at-risk contacts, dealing with on-premises reported suspicious cases) which have their consequences privacy-wise.

More Malaysian banks offer loan repayment moratoriums to virus-hit clients

The bank has also taken precautionary measures by splitting its critical functions to operate from primary and secondary sites to mitigate the risks of business disruption, he added in another statement.

MAS imposes S$400,000 AML penalty on TMF Trustees Singapore

These failures were identified following an inspection by MAS.

More foreign firms file QFII applications in China

Foreign asset management firms have been applying for licences to invest onshore in China.

Investment manager criminally charged

The maximum penalty for each of the charges is around $45,000.

Legal, Regulation & Compliance