Managers of Wealth Asia Pacific

MAS reprimands asset firm for poor compliance

MAS expects directors of all financial institutions to carry out their duties and functions effectively at all times.

ASIC continues clamp-down on 'independent claims'

ASIC will continue to publicly name advisers who do not comply with their obligations under s923A

UK court allows officers to enter Mallya's estate, ‘take control of goods'

The order comes after Mallya lost a case in the High Court against the registration of the Bengaluru Debt Recovery Tribunal judgement in UK courts.

Major enlargement of the global network for the automatic exchange of offshore account information as over 100 jurisdictions get ready for exchanges

The network will allow over 100 committed jurisdictions to exchange CRS information in September 2018 under more than 3200 bilateral relationships that are now in place, an increase of over 500 since April of this year.

Credit Suisse pays U.S. $77 million to settle Asia hiring corruption probes

Credit Suisse was accused of violating the Foreign Corrupt Practices Act by hiring and promoting dozens of people connected with Asian government officials from 2007 to 2013

Australia regulator cracks whip on CBA, ANZ for pushing pension products

The country’s A$2.6 trillion (RM7.6 trillion) savings pool is the world’s fourth biggest, and companies servicing it face scrutiny in an ongoing powerful misconduct inquiry that has already rocked the financial services sector.

Thailand's regulator issues rules on digital tokens

Issuers of such tokens can accept baht or cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple and Stellar, the SEC said.

Yes Bank Gets Final Regulatory Nod To Launch Mutual Fund Business

The bank had already received the approval for the same from the Reserve Bank of India earlier.

UK Supreme Court Rejects NZ Super Funds Joint Debt Recovery Claim

Separate proceedings have been filed in Portugal against the Bank of Portugal, challenging the validity of its decision not to transfer the Oak Finance loan from BES to Novo Banco.

Accountant on trial for allegedly pocketing $40m

He faces 50 charges of CBT as an agent, which carries maximum sentence of life in prison

SEC reveals framework for ICO portals and tokens

ICO portals must be Thailand-based companies with minimum registered capital of 5 million baht.

Bridgewater gains approval to sell products in China

Bridgewater has around $160 billion under management and has been operating in Shanghai for the past two years

Africa-China Bilateral Trade Volume Reaches $170 billion per annum

Chen said Africa’s debt to her country is economically sustainable and should be no cause for alarm.

HQ capital aims for China’s wealth market with joint venture

The new venture aims to exploit both companies networks to generate synergies between China and overseas markets, particularly with Germany in order to offer clients more investment opportunities.

China grants more QFII quotas

To gradually open the capital account, the government introduced the QFII and RQFII programs in 2003 and 2011, respectively.

Vietnam jails former central bank deputy governor for three years

Vietnam's conservative leadership has targeted the corruption-plagued banking sector with impunity as its sweeping anti-graft campaign picks up steam.

Hong Kong, Abu Dhabi financial regulators ink fintech pact

The deal was signed in Hong Kong by Nelson Chow, HKMA’s chief fintech officer and Richard Teng, chief executive officer of FSRA.

Interpol warrant for Indian diamond merchant to the stars

A red corner notice seeks the arrest or provisional arrest of wanted persons with a view to extradition.

Swiss gov’t seizes luxury cars of alleged 1MDB key player

The report stated that it was not clear as to what extent the cars were paid for with 1MDB funds

U.S. fund claims $175 million from South Korea over Samsung units' 2015 merger

Mason Capital filed a notice of intent seeking a resolution through the Investor-State Dispute Settlement mechanism

Legal, Regulation & Compliance