Managers of Wealth Asia Pacific

India and UAE take landmark step to stop expats fleeing debt

Officially making the UAE a reciprocating territory will ease process for a court verdict in India

Asia sees VC deals decline in fourth quarter, 2019, finds KPMG analysis

China's overall VC investment relatively steady quarter-over-quarter

Hundreds of Australians caught up in global sting by tax agencies

The J5 is looking at clients, some of whom are based in Australia, who are thought to have used the bank to conceal and transfer wealth secretly to avoid tax and hide the proceeds of organised crime.

Consultation on rules on contractual stays on termination rights in financial contracts for authorized institutions under Financial Institutions (Resolution) Ordinance launched

Subject to the outcome of the public consultation, the intention is to introduce the rules as subsidiary legislation under the Ordinance into the Legislative Council for negative vetting in the 2020/2021 legislative session.

South Korea to join Asia funds passport scheme on May 27

Foreign passport funds sold in Korea will be subject to the same rules, regulations and investor protection measures as the local publicly offered funds.

Autoriti Monetari Brunei Darussalam and the Monetary Authority of Singapore to Expand Cooperation

New areas of cooperation include financial sector development, cross-border supervision, crisis management, AML/CFT, as well as currency management and operations.

Second meeting of the Banking Sector Coordination Mechanism to support small and medium-sized enterprises (SMEs)

The Banking Sector SME Lending Coordination Mechanism was established on 16 October 2019 by the HKMA

Withers recognised by Legal 500 Asia Pacific

The legal directory listed Withers’ strengths in cross-border structuring, including engagements that have an India, Japan, UK, US, and Australia nexus, as well as its strong focus on funds, family offices, private trusts, family charities and found

Bank of Thailand relaxes property lending rules as ministers move to boost bank liquidity for firms

Thailand’s central bank on Monday announced a relaxation of its lending criteria governing mortgages or loans for residential properties valued at ฿10 million or less.

Class action accuses NAB of super rip-off

MLC Nominees and NULIS are also facing a Federal Court action from ASIC alleging the trustees misled MasterKey super members.

PHILIPPINES: New rules to boost Islamic banking

It added that other key pillars of Islamic finance, such as sharia-compliant insurance (takaful) and sukuk, would be required for a fully developed Islamic financial ecosystem.

PHL banking sector seen to weather risks this year on economy’s strength

The credit rater said that among key credit drivers for the Philippines in 2020 are the recovery in economic growth on the back of government spending and the possibility of continued monetary easing.

Global banks hit with £6.2bn in fines

This is double the amount, and nearly double the value, of penalties handed out in 2018, when 29 fines of $4.27bn (£3.2bn) were imposed.

Hong Kong leads the way with its inaugural recognition of Mainland appointed Administrators

The Administrators sought the recognition order to stop the creditor from obtaining a garnishee order absolute and to preserve the Receivables for the benefit of all creditors.

UBP recommends looking outside of the US

The combination of monetary and fiscal policies globally should help drive corporate earnings.

Unrests In Hong Kong Hits Lucrative Life Insurance Sector

Sales have since fallen further as hostility in the territory towards mainland Chinese has grown and tourist arrivals have plunged, industry analysts warned.

AMP remediation processes questionable

As part of it, AMP contacted customers last year to notify them of the money they were owed but didn't ask them to nominate an existing super account for the refunds to be paid into.

Wall Street Wants to Conquer China. Here’s What May Go Wrong

China is home to the world’s four largest banks by assets, the biggest global fintech company and other formidable competitors.

Recognition for Appleby Hong Kong in the latest Legal 500 Asia Pacific rankings

Appleby has maintained its ranking, with clients in particular highlighting Appleby’s capability ‘to operate well in both English and Chinese’

Fitch: New Philippine regulations may boost Islamic banking

The BSP's new regulations aim to allow the sector to compete on an even regulatory playing field.

Legal, Regulation & Compliance