Managers of Wealth Asia Pacific

SEBI Grants Compliance Relief to Fund Managers, Brokers, Issuers

Late last week, SEBI also announced more stringent rules on short-selling in a bit to curb speculation.

Malaysia Suspends Short-selling, Grants Relief to Licensed Entities

Separately, the SC has announced further relief measures for licensed entities and individuals, including annual licensing fee waivers and reductions of CPE (Continuing Professional Education) and professional training requirements.

Holding the Line on Ultimate Beneficial Ownership

To address the challenges many jurisdictions experience in trying to ensure ownership transparency, last October the FATF released a best practice paper offering guidance on measures countries should consider to facilitate access to beneficial ownership a

Ex-Hong Kong exchange official charged for accepting HK$9.15m in bribes

The other bribery charge alleges that on or about December 21, 2017, Lum offered the HK$2m to Yeoh for the same purpose.

MAS bans ex-insurance agents, bank staff for fraud

Chew and Yap will be imprisoned for 45 and 42 months, respectively. William Lin, former representative of OCBC Bank, was issued an eight-year prohibition order and will be jailed for 16 months for cheating a client.

Australia's pensions industry in urgent talks on coronavirus crisis changes

Talks between industry representatives, the government and the country’s top regulators on how the changes will affect the industry during a time of financial market upheaval only began on Monday.

Singapore and Australia Agree to Enhance Data Connectivity in Financial Services

The DEA ensures that financial institutions operating in Singapore and Australia are able to transfer information that they generate or hold more seamlessly across borders.

Hong Kong Court’s first consideration of PRC law governed debt in sanctioning a scheme of arrangement: Gibbs Rule revisited

Confirming that in assessing this, the Court would take a robust and practical approach.

Australia Unveils Stage Two Economic Package Worth A$66.1b

The first stage package was announced earlier this month

China cbank official expects significant improvement in Q2 economic indicators

China’s economy is widely expected to contract in the first quarter due to measures to curb the spread of coronavirus.

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)

Legal, Regulation & Compliance