Managers of Wealth Asia Pacific

Asia Pacific Tax Weekly Newsletter

The KPMG Asia Pacific Tax Centre publishes a weekly Tax newsletter covering tax systems of countries across the Asia Pacific region.

BOK chief calls for bank's preemptive, practical changes

Lee's remarks came as the BOK is moving to create a new policy road map to mark the 70th anniversary of its foundation in June 2020.

China central bank to maintain prudent policy to prevent inflation from spreading

China’s consumer inflation has quickened to a near eight-year high of 3.8 percent,

Remediation bill tops $10b: ASIC

Our interim tally of $10 billion plus is perhaps not out of step when adjusted for the size of our economy.

Competition Authority probes FNZ / GBST merger

This date is the current statutory deadline by when the decision will be announced.

NAB faces ‘significant’ penalties for money laundering breaches

The bank said it self-reported “a number of issues” to the financial intelligence regulator and peer authorities after discovering the problems.

Appleby Advises China Automation Group ON HKD 391,998,649 Scheme Of Arrangement

The privatisation was approved at the meeting of independent shareholders on September 23, 2019 with the Scheme becoming effective on October 24, 2019.

UBS fined $8.2 million by Singapore for misconduct by advisers

The enforcement action followed UBS’ reporting of the misconduct to MAS, and MAS’ subsequent investigations.

Regulator wants Singapore to become hub for digital banks

Bryan TanRavi Menon, managing director of the Monetary Authority of Singapore (MAS), said new "players" would gain access to Singapore's own banking market to help them grow.

China's central bank injects funds into banking system again

The People's Bank of China offered 200 billion yuan (S$38.9 billion) of one-year loans to banks.

DFSA extends MoU with Chinese regulatory body CBIRC

The initial MoU, signed in Beijing on 24 September 2007, facilitated co-operation and information sharing between banking supervisors.

State Bank of Pakistan fines HBL over non-compliance of regulatory requirements

This is not the first time the central bank has fined HBL.

Strong endorsements for Carey Olsen's Bermuda, BVI and Cayman Islands practices in Legal 500

Lawyers and teams from across Carey Olsen's Bermuda, British Virgin Islands (BVI) and Cayman Islands offices have been recognised in the 2020 edition of Legal 500 Caribbean. In total, 24 of the firm's lawyers have featured in this year's ra

As recession takes hold, Hong Kong banks worry about risk of easier mortgage rules

But as the protests take a heavy toll on the special administrative region's economy, banks fear a deepening recession, unemployment and bankruptcies, which could make it hard for borrowers to pay them back, two bankers said.

Hong Kong protests prompt Citigroup to warn employees to avoid 'dangerous situations' after banker arrested

An officer accuses him in Cantonese of illegal assembly and says he is being arrested. The man tries to walk away and eventually to run away.

Japanese giant acquires Hunt, grows multifamily banking business

The commercial real estate lender offers the full range of Fannie Mae, Freddie Mac, and FHA financing, as well as proprietary bridge, term, and subordinated products.

Philippines National Security Adviser warns of threat Crypto presents to CFT

Terrorist entities using the threat of or carrying out of kidnapping to extract ransom fees or to raise funds through extortion allows organisation to fund themselves or facilitate terrorist attacks.

SFC fines UBS for Overcharging Clients and related Internal Control Failures

UBS has undertaken action to compensate clients that have been affected by instances of overcharging, with the bank repaying the full amount that has been overcharged with interest, totalling an approximate value of HKD200 million.

Fearing capital flight, Hong Kong eyes tax breaks for the rich

Territory's $1.5 trillion wealth industry lobbies for help amid the protests

New Zealand: Tax evasion and money laundering linked to freezing of 15 Gisborne properties and $10m

He boasted to an undercover police officer about owning a large number of properties in New Zealand

Legal, Regulation & Compliance