Managers of Wealth Asia Pacific

How ASIC Can Become a Feared Regulator

The behaviour of AMP exposed by the Commission shows that it had no fear of ASIC. Clients were ripped off and processes continued to exist that directly contravened years old legislation.

China fund managers slash ZTE valuation after U.S. sanction

Chinese mutual fund managers cut the value of the stock in their portfolios by 20-30 percent in a spate of announcements over the weekend, a blow to ZTE that suspended trading in its mainland and Hong Kong shares on April 17.

Antitrust legal quick tips. Foreign investment review: five key antitrust tips

Against this backdrop, companies contemplating cross-border M&A must be aware of foreign investment review regimes and plan accordingly.

Vietnamese PM Directs Ministry to Strengthen Oversight Following Crypto Scam

The directive specifically demands the SBV direct all banks, credit institutions, payment intermediaries to forbid the support of transactions and activities related to cryptocurrency and to report suspicious activities.

Chairman of Chinese asset manager faces graft probe

The commission works alongside the Communist Party’s Central Commission for Discipline Inspection, which has punished more than one million officials since 2012.

China's Huarong Asset Management chairman probed for possible disciplinary violations

The CCDI did not elaborate and Huarong Asset Management was not immediately available for comment.

Japan’s Mizuho pulled out of Qatar bond amid Gulf dispute

Qatar issued $12bn of bonds last week

ASIC hits former NAB adviser with permanent ban

Separately, ASIC also noted that a former AMP-aligned adviser, Trevor Martin, was charged with 21 counts of dishonestly obtaining client funds.

Former Macquarie exec guilty of money laundering, tax evasion

Also found guilty was Castagna’s cousin Robert Agius, a former accountant in the tax haven of Vanuatu, who conspired with Castagna to conceal the money.

Australia says banking executives responsible for misconduct could face jail

In further testimony to the so-called Royal Commission on Wednesday, AMP executives admitted that it had charged users of online platforms for advice fees despite not receiving the permission required by law.

FIA ‘finds’ no politician with property in UAE

Sources and officials privy to the development said that hundreds of Pakistani businessmen faced threats of investigations into their real estate assets in the UAE.

Outgoing CEO name removed from critical AMP report draft

Hodge questioned whether Regan had considered it "ordinary" that the supposedly independent Clayton Utz report would necessitate regular exchanging of drafts and comments with AMP.

Winsome Group's Jatin Mehta is next; ED cracks UAE authorities to get evidences in hand

In mid-2016, the ED had asked Dubai to expedite its response to India's letters rogatory (LR) relating to Mehta's Winsome group.

Falcon Private Bank ordered to pay CHF 1.8 million to Finma

While the court acknowledged Falcon’s severe due diligence violations, the ruling can still be appealed at the Federal Court.

Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah-Compliant Solutions and Structures for Businesses and Families

As a key element in Malaysia’s offering in Islamic financial services, Labuan IBFC’s leadership in Islamic finance is entrenched, and as home to the world’s first Sukuk, the jurisdiction continues to innovate in the space of Islamic fina

Legal, Regulation & Compliance