Managers of Wealth Asia Pacific

Written reply to Parliamentary Question on family office applications

There are currently about 200 SFO tax incentive applicants pending approval.

Four Hong Kong based lawyers recognised by ALB as one of the 30 Rising Stars

The list celebrates practitioners under the age of 40 who have worked on important deals and cases and have received significant accolades in the form of public recognition and positive comments from clients and colleagues.

UBS AG’s Acquisition of Credit Suisse AG

Credit Suisse’s operations in Hong Kong comprise a branch supervised by the HKMA and two licensed corporations supervised by the SFC.

Indonesia central bank governor gets approval for new term from parliament body

Inflation in South-east Asia’s largest economy has stayed above the target range since last year amid high global commodity prices.

Bogus SMS Purportedly from HKMA

The HKMA has referred the case to the Hong Kong Police Force for further investigation.

ASIC bans Queensland based adviser from providing financial services for three years

The banning has been recorded on ASIC’s publicly available Financial Advisers Register and the Banned and Disqualified register.

Singapore's Banking System Remains Sound and Resilient

The Singapore Dollar money market and foreign exchange market continue to function well.

Local exposure to Silicon Valley Bank limited: FSC

The bank served mostly technology start-ups and venture capital-backed companies.

Roger Ng Sentenced to 10 Years Prison

This compares to previous calls by federal prosecutors in Brooklyn for a 15-year prison sentence.

APRA preserves life insurance prudential standards

APRA received only two responses from life insurers during the consultation.

ASIC continues its focus on improved material business risk disclosure in annual reports

The disclosures were in response to ASIC’s concerns that the risks had not been sufficiently disclosed in the operating and financial review (OFR) of the directors’ report.

HSBC Responds to Mark Mobius’ China Claims

The State Administration of Foreign Exchange, China’s forex watchdog, added in a separate statement that there was no policy change on cross-border remittance of funds and that the mainland would continue to promote opening up to the world.

Australia’s central bank says it is closer to pausing on rate hikes

“We also discussed that, with monetary policy now in restrictive territory, we are closer to the point where it will be appropriate to pause interest rate increases to allow more time to assess the state of the economy,” Lowe said in a speech

Conyers Wins Two CBLJ Deals of the Year 2022

The awards recognise firms for their outstanding legal service throughout the year, as nominated by China-focused in-house counsel, corporate executives and legal professionals around the world.

The prevention principle new approach needed by Australian courts

The prevention principle is a legal maxim which provides that a party cannot take advantage of its own wrong in enforcing a contract.

Macquarie Group considers takeover bid for M&G - reports

£6.5bn potential deal

ASIC permanently bans property fundraiser following fraud convictions

Under the Corporations Act and National Consumer Credit Protection Act, ASIC may permanently ban a person from the financial services and credit industries where they are convicted of serious fraud.

APRA releases general insurance statistics for December 2022

This was an increase relative to the prior year profit result due to stronger underwriting results, whch were partly offset by large investment losses.

Carey Olsen shortlisted for offshore law firm of the year in Asia Legal Awards

The awards cover a range of practice areas and disciplines and identify the most significant deals and transactions that took place during 2022.

Singapore: Seeking luxe real estate

The stock market didn’t fare well either, as tech stocks plummeted, with the Nasdaq Composite index falling by a third.

Legal, Regulation & Compliance