Managers of Wealth Asia Pacific

13.5 Tons of Gold Found in Chinese Official's Home

The colossal amount of gold was found in the basement of one Chinese official who was living in Haikou City, Hainan province.

Tax Office Commissioner wins access to secret tax documents

At the club, Mr Jordan gave the example of "this Hua Wang Bank case" as among those tackled by the project.

ASIC casts doubt over Dollarmites

As CBA's Dollarmites is the most prolific of the programs in question, it is sure to attract some comments from concerned parents.

US$1.367b lost in Jho Low-linked switcheroo: How fake company escaped 1MDB ex-CEO’s eyes

The money allegedly made its way to Datuk Seri Najib Razak eventually.

IOOF expects to reappeal timber case

The scheme was to invest in timber on behalf of "covenantholders" but they eventually copped losses.

Hong Kong Watchdog Proposes Custodian Supervision

Public comments can be submitted on or before December 31 this year.

US 'ill-judged' to push against the tide - Fidelity's Paras Anand

This implies that there is a conflict between pursuing both financial returns and sustainability.

Barclays Agrees to Pay $6.3 Million in Asian Hiring Case

Barclays violated the Foreign Corrupt Practices Act by using employment at the bank to influence deal making, and failed to maintain a system of internal controls around hiring, the SEC said.

Australian Regulator Loses Lawsuit Against Wealth Manager

Court rules APRA failed to prove firm broke pension laws.

HKMA Updates Rules on Sales of Banking Products

The upgrading of restricted banking licence and the granting of these banking licences take effect today (26 September 2019).

RBI initiates prompt corrective action against Lakshmi Vilas Bank

The Delhi High Court on Friday agreed to hear a petition alleging Indiabulls gave loans worth crores of rupees to shell companies.

New rules on wealth products likely to boost China markets

Yet policy makers have been trying put a damper on them since 2017, with the chief banking regulator stressing that high risks come with high returns.

China's CICC and Tencent Holdings unit to set up fintech joint venture

The technological joint venture is expected to drive the accelerated transformation and scalable development of CICC’s wealth management business with digital and fintech capabilities," the bank says in a statement on September 24.

Qatar National Bank gets approval for first Hong Kong branch

QNB, which received approval for the branch from the Hong Kong Monetary Authority, said it would provide a full range of banking products and services and that the launch was part of an international expansion plan to establish a foothold in key markets

Former IOOF company loses court battle in timber scheme

IOOF sold its AET corporate trust business for $51.6 million to Sargon last year.

China Orders SOEs to Transfer Capital to Social Security Fund

Under a 10 September notice published on Friday, centrally-administered SOEs – including financial institutions – are required to transfer 10 percent of their state-owned equity to the social security fund by year-end.

EMEAP publishes Report “Study on the Implications of Financial Benchmark Reforms”

This report provides a brief overview of the three areas of financial benchmark reforms, summarises the results of the WGFM survey and the discussion among EMEAP members and private financial institutions, as well as identifies risk scenarios and proposes

Legal, Regulation & Compliance