Managers of Wealth Asia Pacific

MAS Urges Use of Digital Finance and E-Payments to Support COVID-19 Safe Distancing Measures

To date, more than 2 million individuals have registered to use PayNow.

MAS Extends Digital Bank Assessment Period in view of COVID-19 Pandemic

This will allow the digital bank licence applicants to dedicate their resources and attention towards managing the immediate impact of the COVID-19 pandemic on their businesses.

Jurisdictions move towards full implementation of standards for financial market infrastructures

The CPMI and IOSCO encourage jurisdictions to continue to adopt measures that will enable them to fully implement the PFMI.

SCB gets tentative nod for Myanmar licence

SCB has had a representative office in Myanmar since 2012.

Baker McKenzie’s Karen Man on the Smart Regulation Supporting Hong Kong’s Wealth Management Future

Man opens the discussion by remarking that at this time of global crisis, now might be a good time to step back and reflect on the direction of businesses in the private banking and broader wealth management sector.

Ogier advises on final closing of 8F Aquaculture Fund I L.P. – a sustainable aquaculture fun

The Ogier team was led by partner Kate Hodson

Lockdown rules hit retail share prices

The lockdown rules are causing a ‘dramatic reduction’ in retail traffic with major retailers reporting declining share prices.

J. Rotbart & Co. & Blockpass announce Strategic Partnership

Blockpass offers shared regulatory compliance services for humans, companies, objects and device

MAS Takes Regulatory and Supervisory Measures to Help FIs Focus on Supporting Customers

The MAS will also provide FIs more latitude on submission timelines for regulatory reports and defer non-urgent industry projects; and suspend regular onsite inspections and supervisory visits till further notice.

Global bank HSBC owns up to potential anti-money laundering law breaches

HSBC’s exposure to money laundering breaches — first revealed in the online newsletter Banking Day — are contained in the bank’s 2019 financial accounts that were published late last month.

Nomura Joins China Finance 40 Forum as Executive Member

These events provide opportunities for exchange between policy experts, financial and economic researchers and practitioners.

Ogier advises on final closing of 8F Aquaculture Fund I L.P. – a sustainable aquaculture fund

The investment strategy of 8F Aquaculture Fund I LP is focused on developing a socially and environmentally responsible land-based salmon farming business, which is being developed globally.

Wolters Kluwer and Vizor Software form regulatory reporting partnership in Singapore

This partnership will redefine the regulatory compliance landscape in Singapore.

MAS Takes Regulatory and Supervisory Measures to Help FIs Focus on Supporting Customers

Sustaining lending activities should take priority over discretionary distributions.

HKMA Encourages Remote Onboarding to Manage Covid-19 Challenges

The HKMA also notes that SVF licensees have been offering network-based products to help support the payment needs of members of the public amid the Covid-19 crisis.

DBS and UOB closing some branches till May 4

Both join OCBC in closures in anticipation of fewer customer visits and for staff welfare

Global bank HSBC owns up to potential anti-money laundering law breaches

HSBC's exposure to money laundering breaches

Judicial comity between Courts in the Cayman Islands and in Hong Kong

Justice Parker’s judgment was circulated in draft on 11 March 2020.

Mourant advises CVC Capital Partners on fifth Asia Pacific Fund with commitments of US$4.5 billion

CVC Capital Partners is a longstanding client of the firm and Mourant has advised on each of CVC Capital Partners' previous Asia focused fundraisings.

SFC fines HSBC GAM for cash management failures

The SFC’s investigation found that some of the 53 funds managed and/or advised by HIFL and HGAML between 2010 and 2016 maintained cash deposits with connected entities, namely, The Hongkong and Shanghai Banking Corporation Limited and/or its affilia

Legal, Regulation & Compliance