Managers of Wealth Asia Pacific

ASIC cancels AFS licence of Next Generation Advice

ASIC has specified that Next Gen must continue its membership of the Australian Financial Complaints Authority (AFCA) until 17 October 2025.

ASIC alleges QBE misled customers over pricing discounts

ASIC Deputy Chair Sarah Court said, ‘ASIC alleges QBE’s pricing model potentially eroded the discounts received by over half a million customers, in some cases to nil.

SFC fast-tracks simple fund authorisation to bolster Hong Kong market appeal

As the regulatory regimes of MRF jurisdictions provide comparable investor protection to that of Hong Kong and the SFC has entered into cooperation arrangements with their home regulators

IMF issues stark inflation warning for Australia

In its World Economic Outcomes report, the IMF predicted Australia would be one of two advanced economies with headline inflation above 3% by the end of next year, along with Slovakia.

CMU OmniClear Limited and SIX cooperate to open up further cross-border investment opportunities

They will also intensify their working relationship and maintain channels for the exchange of information.

Singapore Family Offices Again Face Parliamentary Scrutiny

The scrutiny remains high in the family office space in Singapore as parliamentarians continue to probe officials.

Hong Kong Policy Address: Key Financial Takeaways

Hong Kong chief executive John Lee delivered the 2024 policy address to the local legislative council on October 16.

Joint Advisory on Rise in Government Official Impersonation Scam Variant Featuring Impersonation of Banks

In September 2024, there have been at least 100 cases reported

ASIC cancels two Australian financial services licences and 11 Australian credit licences

The Licensees were required by law to be a member of the Australian Financial Complaints Authority

ASIC bans financial adviser John Hazell for two years

As a result of these concerns ASIC found that Mr Hazell is likely to contravene his obligations

Federal Court appoints liquidators to Global Capital Property Fund

ASIC applied for the winding-up of GCPF as it holds numerous concerns about the management of GCPF’s business.

Withers: Prenups Are Now Commonplace in Asia

Historically, the usage of prenuptial agreements in marriages was not a popular option, particularly in Asia.

Hong Kong Monetary Authority and Qatar Central Bank strengthen financial cooperation

The HKMA looks forward to working closely with the QCB to foster connectivity

ASIC publishes updated regulatory guidance for registered liquidators

ASIC has also updated RG 258 to make the application process, ongoing obligations, disciplinary process, and other requirements to become a registered liquidator, easier to understand.

APRA revokes International Bank of Australia’s restricted banking licence

International Bank of Australia’s decision to request a revocation of its restricted ADI licence does not prejudice any future application it may make for an ADI or restricted ADI licence.

Speech by Mr Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth, and Board Member of MAS

Financial leaders are more important now than ever before because the world is becoming more uncertain.

Legal, Regulation & Compliance