Managers of Wealth Asia Pacific

Poorly Performing Japanese Banks to Face Added FSA Pressure

According to a Nikkei report, the FSA plans to review its early intervention regime governing regional banks

Labuan Financial Services Authority and China Banking and Insurance Regulatory Commission commit to greater regulatory co-operation and collaboration

The MoU provides the platform for Labuan FSA and CBIRC to enhance the regulatory and supervisory oversight of cross border branches and subsidiaries of China and Labuan based banks and insurance entities.

Scrap foreign ownership caps on China-listed firms, investor group says

“If these limits are not removed, we are afraid that foreign institutional investors may not be able to invest in some of the listed companies, particularly the small cap companies,” ASIFMA said.

China Development Bank Leads Debt Fix in Another City

City’s short-term debt may be swapped for longer-term loans

Chinese economics with Japanese characteristics

Beijing needs a weaker yuan to ease deleveraging just when Trump is holding it hostage

J. Safra Sarasin Sued by Employee Who Miscarried

Coleman alleges both the bank and her immediate supervisor, long-term banker Feroze Sukh, are culpable under Hong Kong’s Sex Discrimination Ordinance and Disability Discrimination Ordinance.

Henley & Partners expands to Australia

This has been a period of strong growth in the region for the firm, which recorded 48% year-on-year growth in Southeast Asia.

Golden Gate Ventures & Hanwha Asset Management Announce Southeast Asia Partnership

According to Preqin's data, Southeast Asia startups are facing a Series B funding gap.

Govt believes $11bn stashed abroad by Pakistanis

The information about the offshore bank accounts of Pakistani nationals was shared with the government by the Organisation for Economic Cooperation and Development (OECD).

Mt. Gox founder acquitted of embezzlement but guilty of data tampering

It recognized the 33-year-old had altered data on the company's trading system to pad the amount in his accounts, as he sought to prevent his company from becoming cash-strapped.

Making the case for Guernsey trusts and foundations in Asia – Ogier team heading to STEP Hong Kong event

China generates more new HNWIs than most (if not all) western countries and those HNWIs increasingly understand the need for offshore structuring for their personal and business assets around the world.

Vietnamese banks see exodus of foreign partners

It said it was under pressure to cut costs after suffering losses in emerging markets.

Insurance industry wants IFRS 17 adoption deferred

IFRS norms like risk-based capital framework is necessary to assess the financial strength of a company.

RBI Issues Finalised Guidelines on Market Abuse

The RBI also said market participants, either acting independently or in collusion, shall not undertake any action with the intention of manipulating the calculation of a benchmark rate or a reference rate.

Asia Gets Tougher on Auditors After High-Profile Defaults

In China, a spate of defaults has raised concerns over the quality of financial reports.

Asia getting tougher on auditors after high-profile defaults like that of Noble Group

Those incidents have prompted investors and regulators in Asia to look back on where they might have picked up more clues that trouble was brewing, adding to broader scrutiny of auditing firms elsewhere in the world.

Australia's CBA suspends $4b wealth management spin-off

CBA is spending A$1.46bn on refunding customers and remediating issues linked to misconduct, with A$1.2bn of this related to its wealth businesses.

Hong Kong's SFC fines UBS and suspends its licence for 12 months

The SFC has also taken action against other joint sponsors involved in the listing applications of China Forestry and Tianhe.

SFC reprimands and fines Standard Chartered Securities $59.7 million for sponsor failures

The SFC also found that the records of the interviews were seriously inadequate.

SFC reprimands and fines Morgan Stanley Asia Limited $224 million for sponsor failures

Morgan Stanley did not have direct contact with Tianhe’s customers for the purpose of setting up due diligence interviews or confirming the mode and place of the interviews.

Legal, Regulation & Compliance