Managers of Wealth Asia Pacific

Australian wealth giant AMP, under pressure, says tougher laws would 'distract'

Most of the major banks have said they will support any new laws.

'Ridiculous': Judge challenges ASIC's push to fine Westpac $58m

Westpac is expected to be ordered by the court to pay ASIC’s legal costs.

Asia Jumping onto the Regtech Bandwagon

Partner, Digital Technology & Operations and Finance & Risk Practice at Oliver Wyman

Superannuation death benefits and conflicts – the WA Supreme Court weighs in Burgess v Burgess

A second superannuation fund paid the death benefit of $338,000 to Denise 6 months after she was appointed as administrator.

Regulatory reform next on royal commission agenda

The royal commission had previously stated that the seventh round would focus on “policy questions arising from the first six rounds”.

Malaysia's Anwar chastises Goldman over 1MDB scandal

Prime minister-in-waiting accuses Wall Street bank of 'inexcusable' behavior

Anti-corruption teams to be installed at China’s state banks and insurance companies, acting like ‘human surveillance cameras’

The central party watchdog had previously relied on the SOEs’ internal disciplinary systems, which were then checked by CCDI inspection teams.

China to step up funding support for private firms

But private firms, which account for 60 percent of China’s gross domestic product and 80 percent of urban jobs, remain cash-starved

PNB fraud: ED attaches 11 properties of Nirav Modi in Dubai

The ED has issued a provisional order for attachment of these assets under the Prevention of Money Laundering Act (PMLA).

Standard Chartered becomes first foreign bank to get China fund custody licence

With the inclusion of Chinese shares by major world indices, China is already being recognised as a major financial market.

Melbourne AFSL pays $9 million in fines

This process often resulted in a substantial erosion

NZ regulators, with eye on Australian inquiry, urge tighter bank controls

New Zealand’s regulators said they had not identified widespread misconduct or poor culture to the extent found in Australia’s inquiry, which has rocked the Australian parent companies of major banks in New Zealand.

MAS, Bank Indonesia in US$10b bilateral financial arrangement

The two leaders had asked BI and MAS to work out a bilateral financial arrangement that can build confidence in each other's economies.

Malaysia extends tax breaks for Islamic, retail bond issuance

The new government is also setting up a special committee on Islamic finance comprising central bank and Securities Commission Malaysia officials.

Ex-banker forfeits $43.7 million and pleads guilty to conspiracy to violate the FCPA and launder money

This work generated $600 million in fees and led to large bonuses for Leissner and Ng.

Banks must reshape to survive compliance and technology crunches

KPMG and EY highlight Australia's big four banks must balance ongoing compliance costs with continued spending in technology or face being left behind when it comes to innovation.

AIMA publishes Fund Manager Code of Conduct (FMCC) Implementation Guide

The FMCC's Implementation Guide is sponsored by leading international law firm Clifford Chance.

Inaugural Singapore-Chongqing Financial Summit unlocks opportunities for regional financial and infrastructure connectivity

Participants discussed opportunities to enhance regional connectivity under the Belt and Road Initiative and the Chongqing Connectivity Initiative Southern Transport Corridor.

New Financial Complaints Body Launches in Australia

As a ‘one-stop shop’ for financial services dispute resolution, AFCA will independently investigate unresolved complaints about all financial products and services, whether related to banks, credit providers, insurance companies or superannuat

Ethics and professionalism post Royal Commission—A regulator's view

The CIMA certification program is a core part of this and requires a certain level of competence amongst investment analysts.

Legal, Regulation & Compliance