Managers of Wealth Asia Pacific

Japan Adequacy Decision Adopted by the EU Commission

One of the circumstances where international transfers are permitted under the GDPR is where the EU Commission has passed an “adequacy decision” in relation to the country

China makes concessions to expats in new tax law

According to a notice published by the State Administration of Taxation last month, resident taxpayers who spend more than 30 consecutive days outside the country in any given six-year period are exempt from having to declare their global earnings.

First repayment of 1MDB money coming soon, says Guan Eng

“We hope this will be followed by subsequent payments to Malaysia, where we will get back the money stolen from 1MDB,” he said at a press conference here today.

Singapore central bank bars initial coin offering for breach of securities law

"The issuer in this case failed to comply with the advertising restriction when its legal advisers put out a LinkedIn post accessible to the public calling attention to the offer.

JPMorgan Asset Management wins approval to sell HK funds in China

Regulatory green light is latest step towards opening up China’s financial markets

New laws aimed at taxing rich celebrities on 'fame and image' face hurdles

The tax measure, first unveiled in the 2018-19 federal budget, was aimed at stopping some high-profile individuals creating sneaky structures to minimise the amount of tax they pay.

QIC signs US investment partnership

The deal reached final close in December, 2018 and QIC has now shortlisted candidates to act as MasParc's general manager and independent board chair.

Mauritius PM inaugurates SBM Bank (India) Ltd in Mumbai

An official said that as a new entity, the SBM Bank (India) Ltd will expand its Indian network by end-March 2020

Carey Olsen up for best offshore law firm at Asia Legal Awards 2019

Winners will be announced at a ceremony at the Renaissance Harbour View Hotel in Hong Kong

China proposes a new consolidated law on foreign investment

The new draft law defines the different types of foreign investment and covers investment promotion, investment protection, investment administration and legal liability in respect of foreign investment.

IMF commends Hong Kong's strong buffers and prudent policy frameworks for ensuring continued stability

The IMF notes that Hong Kong's economy benefited from a strong cyclical upswing in 2017 and the momentum continued through the first half of 2018.

Australian Billionaire's Family Office steps up pressure in $55 million takeover bid

It also suffered a fall in comparable sales heading into December, down 3.1% in financial year to 25 November, with a fall of 4.9% in the last six weeks of that period.

KPMG and Deloitte under investigation for role in 1MDB corruption scandal

International auditors KPMG and Deloitte are being investigated in Malaysia for their role in the 1MDB corruption scandal.

Viet Nam to strengthen ties with Switzerland

Both sides agreed to select suitable projects to effectively use the financial resource

Unexplained Wealth Order Comes to Singapore

Individuals or companies convicted of such an offence face heavy fines and imprisonment (for individuals), on top of the seizure and forfeiture of the property in question.

Succession is the biggest challenge being faced by Indian Families

The need for succession planning has become more pressing with murmurs of the introduction of an estate tax levy gaining more and more noise.

Angola’s parliament approves elimination of double taxation with Portugal, China and UAE

Portugal’s parliament last week voted in favour of the motion to approve the Convention on the Elimination of Double Taxation in Income Tax and Preventing Tax Fraud and Evasion between the Republics of Angola and Portugal

Goldman, Citi Drop Chinese Peer-to-Peer Lenders After Crackdown

Their concerns mainly stemmed from the timing of the deals, with an uncertain outlook for P2P companies and a slumping market knocking down valuations.

Monetary Authority Of Singapore Stops Security Token Offering

The SFA specifically notes that a securities issuer does not have to register with MAS if "the offer is not accompanied by an advertisement making an offer or calling attention to the offer or intended offer."

New payment services laws passed in Singapore

New payment services laws have been passed by Singapore's parliament in a move that will streamline existing laws while bringing many new fintech providers into the scope of payments regulation for the first time.

Legal, Regulation & Compliance