Managers of Wealth Asia Pacific

Culture of impunity: how Australia dropped the ball on policing the banks

The Westpac scandal highlights the problems Australian institutions have with detecting and reporting dodgy transactions

Wenzhou Decision - The First Personal Bankruptcy Case in China?

The 2006 Enterprise Bankruptcy Law only applies to legal persons and unincorporated organisations.

Uniting on the cyber frontier

Regulators must collaborate to match attackers' speed

Lombard Odier: Partnership in China?

The wealth manager has established offices in Hong Kong, Singapore, and Tokyo, but in recent years it has entered into various joint ventures with local banks to establish a presence in Thailand, the Philippines, and Indonesia.

Malaysia’s Ex-Leader Najib Begins Defense In Graft Trial

The high court judge last month said Najib wielded “overarching authority and power” and took actions for personal gains.

Former NAB, Infocus advisers banned

ASIC found that Chapman "failed to gather relevant client information when providing personal financial product advice, including assessments of products that might achieve clients' objectives and needs."

Cambodia and Germany sign two cooperative financing agreements

The first 30 million euros concessional loan, which the German side calls the “Reduced Interest Loan,” will be granted through the German Development Bank.

New arbitration law to come into force in Macau

Arbitration expert Mohammed Talib of Pinsent Masons, the law firm behind Out-Law, described the new law as important to the development of Macau

Germany enacts new laws to protect its companies from China

It has not yet been revealed that the government committee will take steps to save which companies.

Indian Government is Willing to Support Blockchain with a National Framework

Particularly, some members of parliament including Parvesh Singh Verma asked whether the Indian administration had fortified and carried out study into the prospective use cases and applications of blockchain and DLTs, and if at all they did, what were th

Households and firms 'resilient' but MAS urges caution amid global uncertainties

The regulator also noted that Singapore's banking system is healthy with strong capital

AIIB and Clifford Capital create $2bn Asia infrastructure debt platform

China-backed AIIB and Clifford Capital, which was established with support from the Government of Singapore, will take a 30% and 70% equity stake in the newly created BIM platform respectively.

AFSLs show widespread non-compliance: ASIC

ASIC said 1496 FDSs and 373 RNs were collected and analysed along with fee disclosure policies and procedures. Of those, 176 of the FDSs were passed on to a compliance consultant to review.

Taiwan regulator allows banks and insurers to invest in Islamic bonds

The regulator did not set a cap for insurance companies

US FATCA crackdown pushing demand for tax advice

The FATCA international tax code was designed to stop Americans stashing money abroad to evade tax.

APRA responds to industry concerns

"Some industry participants thought that this interpretation would limit scrutiny on the performance of choice products," APRA said.

FSC hails super choice amendments

It's unacceptable that even today, when there is so much pressure on super funds to modernise and be more efficien

Mizuho penalized for not reporting $77m in Caymans profits

Japanese megabank says it didn't skirt taxes in 2008 effort to raise capital

Vietnam Banks to Include ESG Factors in Credit Risk Analysis

In line with this, financial institutions will also be required to establish a dedicated ESG analysis unit by 2025.

Effective use of Automatic Exchange of information – a role for Tax Inspectors Without Borders

The TIWB initiative is set to launch a number of pilot programmes in support of developing countries' efforts to ensure the effective use of AEOI data.

Legal, Regulation & Compliance