Managers of Wealth Asia Pacific

NAB Sued for «Fees for No Services»

The customer may not therefore have been provided with the opportunity to know whether they have received the services for which they have paid or the amount of fees charged to them.

Bank of England says Hong Kong unrest led to $6.7 billion exodus from funds

The Bank of England is particularly concerned by events in Hong Kong because of the outsized exposure of British banks.

Asian financial firms face 'benchmark-aggedon' as tough EU rules near

Organisations that compile and publish market indexes outside the European Union were in February given an extension to the end of 2021 to comply with the EU’s benchmark regulation.

Nomura Signs Final Agreement for Comprehensive Business Alliance with San-in Godo Bank and Gogin Securities

The alliance is subject to regulatory approval, respective company-related approvals and the signing of other necessary agreements.

Philippine court dismisses case seeking $3.9b of Marcos wealth

Country's anti-graft court decided in favour of the Marcoses for the 4th time since August

UOB, DBS, StanChart provide S$945m green loan to Allianz, Gaw for Duo deal

The syndicated loan will finance the S$1.575b joint acquisition of Duo Tower and Duo Galleria from M+S

Singapore Fintech Ditches Plans for Digital Bank License

Nanu said his company will focus on serving businesses in more than 40 markets.

MLC Life loses super fund mandate

OnePath will provide default superannuation cover (death, total and permanent disability and income protection) and voluntary cover.

Adapting to the World of Regulation: How Asia’s HNWIs Can Overcome the Hurdles Ahead

CRS and substance driving change in the family office space

Mourant Hong Kong a leading offshore firm in Asia

The firm maintained its high ranking in the Asia-Pacific edition of Chambers and Partners, reflecting its ongoing strategic expansion in Asia.

Malaysian Re, Pacific Life Re sign takaful deal

This will help expand Malaysian Re’s access to international data and harness underwriting technology provided by Pacific Life Re’s fully-owned subsidiary, UnderwriteMe, it said.

MAS pulls CT Bright Investment's licence to conduct fund management business

MAS will take stern action against financial institutions that do not abide by MAS’ directions, and will revoke the licences of financial institutions that are not serious about carrying on regulated activities.”

Outcomes of review into internal market making for quoted managed funds

ASIC has identified measures firms can implement to manage these risks, set out below.

Banks' Research Held Hostage By Hong Kong's Unrest?

Another executive at a separate European bank said its analysts had been told not to write about the protests in research distributed to clients such as institutional investors, as it aims to boost the bank's business in mainland China.

How regtech will help in enhancing emerging Asia's financial markets

Different regulatory regimes and cultural practices across region can benefit from tapping proven, high-quality monitoring and tracking systems.

APRA Issues Final Operational Risk Requirements for ADIs

APRA says the new qualitative operational risk requirements will not have implications for when and how ADIs implement and comply with the new APS 115.

Westpac directors slammed

It comes amid the fallout from Westpac's alleged 23 million anti-money laundering breaches (some related to financing child exploitation), causing chaos inside the bank and Australia's financial sector.

UBS Reveals Client Overcharging Claims in Asia

Despite the regulatory worries, Asia continues to be a primary growth driver for the bank, as evidenced by the latest figures.

Bank Central Asia Takes Over Local Unit of Dutch Rabobank

Bank Central Asia, which has a market capitalization of Rp 787 trillion, last month also acquired Bank Royal Indonesia, a small-sized local lender, for Rp 1 trillion with plans to develop it into an online-based lender.

Malaysia to implement beneficial ownership register

"After six months, the registrar will invoke our powers to enquire all the information to be submitted to the registrar," she said.

Legal, Regulation & Compliance