Managers of Wealth Asia Pacific

Much awaited Hong Kong Court of Final Appeal decision on anti-Bartlett clauses handed down

This is our initial take on the decision with more detailed analysis to come over the next few days.

How Westpac is alleged to have broken anti-money laundering laws 23 million times

Each breach carries a penalty of up to A$63,000. Westpac is accused of 23 million breaches.

APRA floats insurance in super change

In cases where the insurance arrangement is for a term of three years or more, APRA will require the certification once every two years.

Consultation opens for retirement income review

The financial services industry and wider community has just over two months to make submissions to the government's retirement income review.

Morningstar to cease in-house credit research

Morningstar distributes its credit research to large adviser groups, often packaged with the firm's equity research.

AMP transfers 25% of accounts to ATO

Committee chair, Tim Wilson MP, labelled the practice "suspicious" given the rollover fund charges a fee, while the ATO does not.

China's Bank of Communications and Bloomberg ink strategic partnership pact

The companies will also collaborate on financial data services, market-making and regulatory compliance.

Hong Kong Monetary Authority (HKMA) fosters a diversified ecosystem for Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) Regulatory Technology (RegTech)

The HKMA and the banking sector will continue to contribute to AML/CFT efforts in Hong Kong

Tech-Savvy Startups are Applying for Singapore’s Digital Banking Licenses

As per Pengeluaran SGP, the country has started digital bank licenses after the tech giants like Google and Alibaba started offering full-service banking.

Longer-term Singapore government bonds facing headwinds: DBS

The SGS and interest-rate swap (IRS) curves, which are highly correlated to DM rates, have also followed suit, he added.

Nine banks back Singaporean trade finance initiative, DBS Bank explains three key benefits

Users can receive real-time status updates on their applications, improving efficiency and productivity for both banks and those looking to access trade finance. Alongside improved efficiency, a duplicate invoice check feature will also help prevent the d

Board of Australia's Westpac 'unreservedly apologises' over money-laundering

The notion that any child has been hurt as a result of any failings by Westpac is deeply distressing and we are truly sorry.

Jail for company director who sold luxury goods to North Korea, cheated banks of $130m

Another 140 charges of a similar nature were taken into consideration

MAS mulls regulating trade of payment token derivatives

MAS said it still does not view payment token derivatives to be suitable for retail investors to trade.

BCBS Examines Evolution, Risks of Open Banking

The report highlights that while a number of jurisdictions have adopted or are considering adopting open banking frameworks, these frameworks vary across jurisdictions in terms of stage of development, approach and scope.

Wirecard says 2017 audit of Singapore unit not concluded due to probe

Wirecard's shares have whipsawed after several media reports raised questions about accounting methods, all of which the company has rejected.

ASPAC LIBOR Readiness Report

KPMG member firms across the region recently surveyed more than 20 large banks in Hong Kong, Indonesia, Malaysia, the Philippines and Singapore on their readiness for the LIBOR transition.

MAS consults on relaxing restrictions on payment token deriviative

Payment tokens and their derivatives are, however, not suitable for most retail investors

CGS-CIMB Securities launches prime services platform for boutique funds

Flexible account structures enable synthetic access to restricted markets and hard-to-borrow securities as well as access to cash markets with optimised lending and solutions for financing and asset protection.

Trends in offshore law and developments in Hong Kong: Q&A with Nicholas Plowman

The more recent Hong Kong protests are yet to have an impact on our workflows

Legal, Regulation & Compliance