Managers of Wealth Asia Pacific

NZ man linked to fugitive: 'I've never heard of him'

New Zealand First MP Ron Mark named Mr Francken in connection with the case of Calvin Ayre in Parliament.

India's bid to bring home tycoon Mallya rebuffed; to keep trying

The 60-year-old Mallya, a Formula 1 boss known as the "King of Good Times" for his party lifestyle, is the subject of a non-bailable warrant issued by a special judge in Mumbai.

Japan Will Leave Banks to Carry Out Their Own Stress Tests

"We’re considering if we can come up with a stress test-like setup,” Toshihide Endo, the director-general of the FSA’s supervisory bureau, said in an interview last month. "We don’t plan to impose external tests.

Citi Bans Yuan For Property Loans

The move comes as Australia’s large banks all make changes to lending to offshore clients with increasing fears of home loan fraud and money-laundering.

Mercer bolsters compliance offering

What's exciting about this acquisition is how we can make our clients' lives easier by removing some of the governance burden of monitoring legislative and regulatory changes and the impact these can have on our clients operations.

Baker & McKenzie Wins Six Awards at 2016 ITR Asia Tax Awards

The Firm took home both the regional award, 'Asia Tax Litigation and Disputes Firm of the Year,' as well as the national award, 'Tax Disputes & Litigation Firm of the Year' for Hong Kong and Vietnam.

Japan’s financial regulator to scrutinize banks’ stress tests

We don’t plan to impose external tests.

Australian Government to stop double-taxation of digital currencies; apply AML regulation

The Government will also consider guidance from the FinTech Advisory Group as part of broader considerations around the AML/CTF regulation of digital currencies.

Sukuk Issuance Expected To Increase In 2016, Says IFSB

Although there has been no instance of a sukuk default since 2010, the strengthening of legal frameworks and regulations regarding sukuk resolution in default cases could facilitate more international sukuk issuances.

Singapore Banks Discuss Cooperation to Fight Money Laundering

The bank believes the new model "will bring significant control and operational efficiency benefits to the industry and Singapore," Yuen said by e-mail, adding that it’s premature to discuss details of the initiative.

Allen & Overy announces 35 new Counsel promotions

The 35 promotions span the Banking, Corporate, Employment, ICM, Litigation, Real Estate and Tax practices and are effective as of 1 May 2016.

Westpac, ANZ Investigating Suspected Foreign Home Loan Fraud

Two of Australia's biggest banks on Monday said they are investigating suspected fraud involving false declarations by a number of home loan borrowers who rely on foreign income.

Regulations Still Abound in South Korean Hedge Fund Market

One of the examples is that a hedge fund has to be raised by 49 persons or less, which was maintained while the minimum fund amount required was lowered from 500 million won to 100 million won last year.

Hogan Lovells makes Asia arbitration play with BLP hire

BLP London-based partner Jonathan Sacher replaces Phillips as head of international arbitration.

S’pore slaps three more charges on ex-banker in 1MDB probe

The law firm of his lawyer, Philip Fong, "likely constitute proceeds linked to criminal conduct".

China Regulator Tries Again To Rein In Banks’ Shadow Assets

The watchdog has tried cracking down on similar arrangements in the past.

China Warns Asset Managers About 'Ponzi Scheme' Risks

The risk from pooling money is that cash from new investors can be used to repay existing investors, as occurs in the scams named after Charles Ponzi.

Chinese asset management industry cleaning house

More than 2,000 private fundraising and management firms will be forced out of the Chinese market, according to the China Securities Regulatory Commission and the Asset Management Industry Association of China.

S'pore may now focus on 1MDB's Cayman investments

The authorities are probing "complex and layered transactions" with "cross-border elements" involving many shell companies in their investigations into 1MDB, said Singapore's chief prosecutor Tan Ken Hwee.

MBSB continues to eye merger opportunities

Earlier at the EGM, MBSB shareholders approved the resolution for a rights issue to raise RM2 billion to beef up the group's capital position.

Legal, Regulation & Compliance