Managers of Wealth Asia Pacific

ASIC bans Perth accountant from providing financial services for six years

Mr Bowker may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Citigroup to refund over $3 million to clients

Citigroup’s practices included its advisers asking customers about their personal circumstances, such as their tolerance for risk, and providing financial education about benefits and risks to customers who had no previous experience of investing in

Freedom to divest all operations

It will not disclose the service provider's name before entering into the underlying agreement.

UAE and Korea renew 2013 swap agreement

A cross currency swap allows two countries to exchange payments in one currency for an equivalent amount in the other to facilitate trade transactions and offer liquidity support to financial markets.

Korea’s 1st-generation internet banks face murky future amid regulatory hurdles, incoming competition

Further challenges are expected down the road, as up to two new internet-only banks will begin operations from this year, increasing competition.

ASIC doubles wealth investigations

The update on the Australian Securities and Investments Commission's wealth management project, made during a Senate estimates hearing, also revealed that the regulator has beefed up its staffing of the investigations to 70 from 45.

How Panama Papers changed South Korea

The fact people who benefited from dictatorships abuse the global system to hide their wealth in secrecy jurisdictions made me aware of the prevalent injustice in our society, hidden from our views unless exposed by journalists.

China Rising in the Caribbean

The Chinese military is already in the Caribbean, in Cuba, apparently to collect signals intelligence from the U.S.

Australian fund caught in email scandal

The NAIF's board comprises a number of legal and finance experts including Gilbert and Tobin partner and former Macquarie Capital executive director Justin Mannolini.

Taiwan Raises Max Penalty for Unauthorised Investments from China

The amendment was made to Article 93-1 of the ‘Act Governing Relations Between the People of the Taiwan Area and the Mainland Area’, which targets mainland entities that invest in or enter into technological collaboration with local businesses

MAS Bans Former HSBC, UOB Employees for ‘Egregious’ Misconduct

The three court cases are not related. The ban against the three individuals took effect from 5 April 2019.

Australian wealth manager hit with class-action lawsuit

The suit was filed in the New South Wales Supreme Court in Sydney by law firm Quinn Emmanuel.

Goldman Sachs affiliate again faces fine for naked short selling

Naked short selling refers to the sale of borrowed shares in order to profit by buying them back at a lower price, but without actually borrowing the stocks first.

World Bank Group and GPIF Deepen Partnership on Building Sustainable Capital Markets

Initial investments have surpassed the equivalent of US$500 million in Australian dollar, euro, and pound sterling-denominated bonds issued by IBRD and IFC.

Corporate regulator laments bank pushback

The Australian Securities and Investments Commission has been disheartened by some anonymous comments purportedly made by senior bankers to media.

Speech at the ISDA 34th Annual General Meeting in Hong Kong

Asia has seen remarkable economic growth over the past several decades

UniCredit China Employee Embezzled $15mn of Client Money

The employee allegedly used a group supervisor’s password to access the funds, which were used to buy apartment units in the US, Greece and Japan.

India pension scheme gains popularity among NRIs

The government’s national pension system is extended to overseas citizens

India requests bank details of those named in SwissLeaks

SwissLeaks put him in sixth place among Indiansexternal link stashing money with HSBC Geneva ahead of India’s richest man Mukesh Ambani ($26 million) and his brother Anil Ambani ($26 million).

China's first village bank for investment management gets nod from regulators

At present, the Changshu-based rural lender has invested in 30 village banks in provinces such as Hubei, Jiangsu, Henan and Yunnan.

Legal, Regulation & Compliance