Managers of Wealth Asia Pacific

POBA and CalSTRS establish a US property-focused joint venture

A CalSTRS spokesperson verifying the report with Asia Asset Management, notes that CalSTRS began to work with POBA in 2018

Tax exemptions granted for UAE sovereign infrastructure investments in India

In the future, other sectors may be identified for tax exemptions by the Indian government.

Australia: Corporate residency rules; issues arising under sole-incorporation test

The Board of Taxation opened a consultation concerning potential reforms to the corporate tax residency rules.

Creditors Swoop on Indian Tycoons’ Rolls Royce, Island Mansion

Some tycoons have held assets through arcane webs of holding companies, which has complicated creditors’ efforts to recover funds.

CFSGAM exit helps CBA bottom line

CBA’s past problems with respect to the Prudential Inquiry were mentioned in the ASX announcement with the bank confirming it had submitted 107 of 173 milestones.

SFC reprimands and fines BMI Securities, suspends its responsible officer

The SFC has also suspended BMISL’s responsible officer, Ms Maggie Tang Wing Chi, for five and a half months from 11 February 2020 to 25 July 2020 (Note 2).

Industry fund introduces new fee

"This fee will apply to the pre-mixed investment options and single sector investment options (excluding cash)," the fund said.

BIMB on track to complete listing status transfer to Bank Islam by August

The group is currently awaiting the relevant approvals from various regulators including BNM, SC and Bursa Malaysia

QSuper member drags board to court, loses

The QSuper trustee in August 2011 said Chapman was not totally and permanently disabled.

China: Introduction To The Economic Substance Act In The BVI

The ES Act requires a legal entity (a company or a limited partnership) that conducts relevant activities, as defined under section 6 of the ES Act, during a financial period 1 to comply with the economic substance requirements in relation to that activit

AMP faces fresh class action

Woodsford has also bankrolled the class action against Colonial First State over "excessive" insurance premiums on super products, announced late last month.

BIS Paper Identifies Sources of Regulatory Fragmentation in Banking

Varying practices in asset valuations may impact the measurement of banks’ regulatory capital, the paper says.

MAS advises banks on extra measures amid virus outbreak

MAS is closely monitoring the 2019-nCoV situation

Tender of 2-Year Exchange Fund Notes to be held on 19 February 2020

This is to roll over an issue of 2-year Exchange Fund Notes maturing on the same day.

UBS AM leads in China onshore fund race

In total, UBS Asset Management has 10 private funds sold in the mainland.

Another Strong Year At Appleby With Listing Deal Value Doubling Year On Year At HKD 15.8 Billion In 2019

Appleby acted as offshore counsel in listings on both the Main Board and the Growth Enterprise Market of the Hong Kong Stock Exchange.

ACCC denies impropriety

Taylor is the first of the regulators staff to testify.

ASIC bans former director of Spectrum Wealth Advisers for six years

ASIC found that Spectrum did not take reasonable steps to ensure its representatives complied with the law.

Australia: New legislation increases accountability of directors

The legislation grants broader powers to the Australian Securities and Investments Commission , the ATO, and liquidators to address phoenix activities and to prosecute culpable directors.

Thailand SEC expects first super savings fund to be launched mid-February

He advises Thais to invest in the new funds regularly throughout the year “to create a savings discipline for financial well-being”.

Legal, Regulation & Compliance