Managers of Wealth Asia Pacific

ASIC reviews culture, conduct and conflicts of interest in vertically integrated funds management businesses

Going forward, ASIC will continue its focus on culture and conflicts management across the financial services industry

ASIC consults on proposed guidance about 'robo-advice'

ASIC is also seeking feedback on issues that are unique to digital advice businesses

ASIC issues guidance on marketplace lending

The information sheet also includes good practice strategies that marketplace lenders may consider adopting.

Chinese Planner Promises Foreign Companies Access to Markets

The China Development Forum 2016 is being closely watched by global companies because it comes at the start of the ruling Communist Party's latest five-year development plan that runs through 2020.

Ogier advises Asian Deal of the Year

This was the first non-sovereign USD Sukuk out of Indonesia and the first Asia Pacific national flag carrier to successfully issue a USD benchmark bond on a standalone basis since Qantas Airways’ USD bond offering in April 2006.

UOB announces Taiwan market expansion plan

UOB Asset Management Taiwan is soon to file fund issuance applications after winning an operation license from the Financial Supervisory Commission last month, the first by an entirely foreign fund house in 15 years.

NAB action heads for $6.6m settlement

A High Court decision over action against the ANZ bank is still pending.

Bank of China targets Africa with Mauritius banking licence

Bank of Mauritius Governor Ramesh Basant Roi told reporters on Friday the bank was expected to start operations in the next few months but did not give a date.

Mizuho Bank Slapped with Civil Action Lawsuit in US

Mizuho Bank currently faces a class-action lawsuit in the United States for its role as a banking partner of the now defunct Mt Gox.

$14b bid for Starwood Hotels puts Chinese firm Anbang in spotlight

The move complicates a plan to meld Starwood and Marriott International Inc into the world’s largest hotel company

Chinese hedge fund scramble as regulators clean up 'Wild East'

The new hedge fund rules aim to shrink a vast industry insiders describe as a "Wild East" rife with fraud.

SFIO to probe 2 offshore accounts in Mallya case: Sources

There are two offshore accounts— in Isle of Man and Panama—used in the acquisition of Shaw Wallace Distilleries which are part of Vijay Mallya's US expansion plans.

ANZ wealth breaches slammed

While the majority of these compliance breaches are in the past, we know we can do better

Court Appoints Knight Frank as Consultant in NSEL Case

In 2014, NSEL had made a similar attempt and finalised two global consultants Knight Frank and Colliers International to identify competent buyers to dispose of immovable properties of Mohan India, the largest borrower defaulter of NSEL.

MAS, China Central Bank Renew Bilateral Currency Swap Arrangement

The Monetary Authority of Singapore, and the People’s Bank of China on Tuesday announced the renewal of the existing bilateral currency swap arrangement for another three years.

Freshfields, Norton Rose on CITIC’s $4.8 bln sale of property assets to China Overseas Land

Upon completion of the deal, CITIC will gain a 10 per cent stake in COLI and become the company’s second-largest shareholder.

Harneys: The absence of a modern restricting regime and how to get around it

Absence of a modern restricting regime and how to get around it.

South Korea fines HSBC and Deutsche $50,000 for FX swap collusion

The watchdog fined HSBC 46 million won and Deutsche 13 million won. HSBC's Seoul branch said it has cooperated fully with the Fair Trade Commission. Deutsche declined to comment.

HSBC freezes at least $87m in accounts linked to linked to a Chinese tycoon

In a 2014 Financial Times investigation, people who have had dealings with Mr Pa — who goes by at least seven different names — claimed that he also had close ties to the Chinese intelligence services.

China banking regulator warns of risks from overcapacity sectors — sources

The China Banking Regulatory Commission asked lenders to assess the credit risk and potential asset losses that loans to borrowers in sectors with overcapacity posed

Legal, Regulation & Compliance