Managers of Wealth Asia Pacific

China's central bank uses foreign exchange reserves to boost Silk Road initiatives

The central bank will become the second-largest shareholder of the CDB

ANZ deputy CEO issues planning apology

The ANZ Bank's deputy chief executive, Graham Hodges, has apologised to a Senate Committee for the banking group's failings around its Prime Access offering amid political and regulatory criticism that clients paid for financial advice they did

1MDB gave false documents to Singapore’s BSI Bank, says Sarawak Report

Sarawak Report said separate insider information obtained in Singapore had corroborated that there was no actual cash in the relevant Brazan Sky Limited account.

BlackRock Says 1.5% RBA Rate Possible on Massive Bond Inflows

The Reserve Bank will be spurred to reduce its benchmark rate from 2.25 percent as the local dollar remains resilient while Europe and Japan’s quantitative easing drive demand for Australia’s higher yields, he said.

CFA Institute bets on Asset Manager Code to grow biz

CFA Institute, the global association of investment professionals, will partner with SBI Mutual Fund for ‘Adoption of Asset Manager Code and Investment Performance Standards’ very soon, a top executive said.

ASIC steps up UBS probe

Premier Mike Baird admitted his office called UBS to complain about the original note

Chinese banking giant breaches Reserve Bank rules

One of the Chinese banking giants setting up shop in New Zealand has already run afoul of the Reserve Bank, in a technical breach of its conditions of registration

Good governance gives financial centres edge over competitors

Global finance is facing an Eastward shift, with Asian cities such as Singapore, Hong Kong and Shanghai now ranked among the world’s leading financial centres

Clyde & Co Announces 2015 Partner Promotions

Clyde & Co is delighted to announce 24 partner promotions across its international network

Chiefs face Senate over financial planning fiasco

THE chief executives at most of the nation’s biggest banks have conceded more work is needed to clean up the tarnished financial advice industry.

Banks open to $50m industry insurance scheme for bad financial advice

The big banks have provided conditional support for an industry-wide insurance scheme for clients who sustain losses from dodgy financial advice.

Foreign investment in the Indian insurance sector – the mega-reform

The Insurance Bill would now require Presidential assent and publication in the official gazette of India to become effective.

Court order for rich husbands to share wealth with ex-wives

Rich husbands who split from their wives cannot expect to retain the lion’s share of the matrimonial assets because of any special skill in amassing great wealth, following a long-awaited Family Court ruling.

Bank hearings to pry into interest rate rigging

The Senate inquiry being billed by critics as "a McCarthy-era show trial" promises to be a show stopper, with scrutiny moving beyond financial planning misconduct to possible interbank interest rate rigging.

IFSB guidance for Islamic banks may spur sukuk issues, deposit insurance

HQLA must have low correlation with risky assets, an active secondary market and low volatility.

Legal threat to banks over financial advice

Some of the country's biggest banks could face legal action from customers over their failure to provide all of the financial advice services that clients had paid for, plaintiff law firms say.

Conyers Receives Deal of the Year Award

At the recent Asian-MENA Counsel awards ceremony, Conyers received a Deal of the Year award for the Privatization of Giant Interactive Group Inc.

SEBI bars 129 entities; suspects money laundering

In a fresh crackdown on suspected tax evasion and laundering of black money through stock markets, regulator SEBI on Friday barred Mishka Finance and Trading Ltd and 128 other entities from the securities market.

Fund CEOs question benefits of passporting

Regulation is shaping the agenda for fund passporting and not always for the best, according to industry experts at a forum. And with the rise of Asian digital fund platforms, passporting may become irrelevant.

AsianInvestor's regulatory roundup, April 17

HKEx considers liberalising Stock Connect rules; Fed hints algotrading caused flash crash; Taiwan reforms offshore fund rules; ARFP's tax hurdles highlighted; and nonresidents to pay British CGT.

Legal, Regulation & Compliance