11/29/2024
Promoting ongoing improvements in financial advice
Speech by ASIC Commissioner Alan Kirkland at the Financial Advice Association Australia (FAAA) Congress, 28 November 2024.
Legal, Regulation & Compliance
11/29/2024
ASIC welcomes recent IOSCO reports outlining key developments for global market regulators
ASIC has played a significant role in developing the consultation reports in its role as chair of the Committee on Regulation of Market Intermediaries
11/29/2024
HKMA Welcomes Launch of HKUST's InvestLM Generative A.I. Platform
This innovative platform aims to support the local financial services industry, particularly small-to-medium financial institutions, in harnessing the potential of Generative Artificial Intelligence (GenA.I.) technologies.
11/27/2024
MAS issues Prohibition Orders against Mr Loh Sheng Yang for Cheating, Forgery and Acquiring Benefits of Criminal Conduct
This follows his conviction in the State Courts for cheating, forgery and acquiring benefits of criminal conduct.
11/26/2024
ASIC update on maintenance of regulatory guides
To assist regulated entities in understanding the law, we publish updated regulatory guidance on an ongoing basis and this work will continue in 2025.
11/21/2024
Appleby advises China Resources Building Materials Technology Holdings Limited on the registration and issuance of medium-term notes
The target subscribers for the 2024 First Tranche Medium Term Notes are institutional investors in the national inter-bank bond market of Mainland China.
11/20/2024
Labuan IBFC wins Leading International Financial Centre (Asia Pacific) 2024 award
Labuan IBFC also made significant strides in expanding its international presence and facilitating greater collaboration across key markets.
11/15/2024
ASIC announces new enforcement priorities with a focus on cost of living pressures
We will also target conduct that exploits superannuation savings, with a particular focus on unscrupulous property investment schemes.
11/12/2024
SFC Circular on deficiencies and substandard conduct in management of private funds and discretionary accounts
The Circular applies to asset managers who manage private funds and discretionary accounts in the form of an investment mandate or a pre-defined model portfolio.
11/08/2024
ASIC seeks feedback on proposed guidance on sustainability reporting regime
This includes specific guidance on ASIC’s approach to granting relief from the regime and use of its new directions power.
11/06/2024
Hong Kong Approves First Brokers for Cross-Border Wealth Management Scheme
This announcement represents a key step for the brokerage sector and the WMC program, boosting financial connectivity within the Greater Bay Area and strengthening Hong Kong's wealth management industry.
11/05/2024
Bank Indonesia and Monetary Authority of Singapore Further Extend Bilateral Financial Arrangement to 1 November 2027
The longer extension period of three years, compared to one year previously, reflects the good financial cooperation between the two central banks in preserving monetary and financial stability in both countries amid global macroeconomic uncertainties.
11/05/2024
Hong Kong Approves First Brokers for Cross-Border Wealth Management Scheme
This announcement represents a key step for the brokerage sector and the WMC program, boosting financial connectivity within the Greater Bay Area and strengthening Hong Kong's wealth management industry.
11/04/2024
SFC unveils first batch of brokers joining Wealth Management Connect Pilot Scheme
The SFC will continue to work with stakeholders to further enhance and expand the WMC scheme
11/04/2024
MAS Announces Plans to Support Commercialisation of Asset Tokenisation
By connecting a broader set of participants’ products and services across multiple currencies and assets, greater improvements in capital raising, secondary trading, asset servicing and settlement of tokenised assets may be realised.
11/01/2024
PIF and Hong Kong Monetary Authority sign memorandum of understanding for investment fund at FII8
The signing of this MoU is a new milestone and underlines the economic ties between two leading institutions – PIF and HKMA.
10/31/2024
ASIC sues Oak Capital alleging unconscionable conduct designed to avoid the National Credit Code
In most cases, the individuals seeking the loan provided their own homes as security.
10/30/2024
MAS Imposes Composition Penalty on Atrium Asia Investment Management, Reprimands CEO
MAS has also issued a reprimand to AAIM’s Chief Executive Officer (CEO), Mr Mintarja Oei, for failing to ensure AAIM’s compliance with MAS’ AML/CFT requirements.
10/30/2024
SFC Obtains Court Order to Freeze $6.35 Billion of Assets Belonging to Suspected Manipulators of Ding Yi Feng Shares
The interim injunction order remains in effect until further order of the Court.
10/29/2024
FedHermes' $3.4bn Asia star backs China valuations, not policy
Well-known Asia investor Jonathan Pines' $3.4bn Federated Hermes Asia ex-Japan Equity fund has a chunky overweight to China, but his biggest ever India underweight.