Managers of Wealth Asia Pacific

Bank Fines Surge in China as Watchdog Battles Rising Bad Loans

The agency under Guo has imposed penalties as large as $110 million, fired banks executives, and publicly disclosed the violations.

SEBI Panel Proposes To Relax Foreign Fund Ownership Rules

The report was submitted by a panel headed by HR Khan, former deputy governor of the Reserve Bank of India.

In Depth: Is China on Verge of Private Equity Implosion?

The banners were intended for the team investigating the case of the Shanghai-based wealth management company Fuxing Group

Choksi’s Indian properties seized

Choksi is at the centre of controversy surrounding a desire by the Indian administration to have him extradited from Antigua to face charges for an alleged US $2 billion bank fraud in India.

ASIC taking wealth management firms to court

The commencement of this civil penalty action is part of ASIC’s broad-ranging and significant investigations currently underway into fee for no service failures in the financial services industry

MAS Queries OCBC on Outage

MAS said it will closely monitor OCBC's rectification measures following the service outage, and take suitable supervisory actions if necessary.

Asian Development Bank Debuts Trade Finance Tool

“Firstly, at a macro level, to identify characteristics of effective regulation that could be strengthened,”

Nomura AM gets QDLP license

The firm declined to provide further information on its QDLP plans.

SANNE authorised as a Trust or Company Service Provider in Hong Kong

The authorisation further enables SANNE to provide an enhanced suite of services to Asia-Pacific (APAC) alternative investment managers, in addition to its existing offering as a trust or company service provider.

APRA to reopen old wounds for CBA, IOOF

APRA said it will delve further into tax refunds paid to a related party thanks to the Suncorp Portfolio Services Limited (SPSL) case study - which may not be consistent with the requirements of Prudential Standard SPS 231 Outsourcing.

SEBI dismisses concerns on FPI outflow

In April, SEBI had asked Category 2 and 3 FPIs to provide a list of their beneficial owner in a prescribed format within six months.

Australia’s LGS hires PIMCO for A$440 million ESG bond mandate

LGS currently manages over A$11 billion of assets for some 90,000 members of the pension fund.

UBS to Start Currency Pricing, Trading Engine in Singapore

UBS’s launch may bolster the foreign-exchange trading infrastructure in Singapore

JD CEO's arrest steps on governance landmine

What’s more, in a further abuse of good governance practices, Liu holds the chairman’s seat as well as serving as CEO.

‘Preposterous’ to say new FPI rules will lead to $75 billion outflows, says Sebi

Sebi had in April asked Category II and III FPIs to provide list of their beneficial owner (BO) in a prescribed format within six months

Committee to probe Pakistanis’ assets parked in Dubai

According to the committee’s report, the FIA has significant details about the properties held by Pakistanis in Dubai and the committee aims to work on bringing back those assets.

NAB, CBA hit back at claims they engaged in criminal conduct

CBA denied a range of legal breaches relating to its super business Colonial First State, including that it had potentially criminally violated the Corporations Act for tardy breach reporting.

Financial system risk is elevated and global standards are essential in managing cross-border infrastructure investment

The report says the financial outlook will also be shaped by China’s ability to manage risks relating to high indebtedness and leverage in its banking, shadow banking and wealth management industries.

OECD releases fourth round of BEPS Action 14 peer review reports on improving tax dispute resolution mechanisms

A document addressing the implementation of best practices is also available for each jurisdiction that opted to have such best practices assessed.

MAS issues Prohibition Orders against Mr Lee Chang Yeh Bentley for fraudulent and dishonest conduct

This warrants a prohibition order of considerable duration to protect consumers, deter similar misconduct and preserve the integrity of our markets.

Legal, Regulation & Compliance