Managers of Wealth Asia Pacific

HKMA to tighten screws on money laundering at Hong Kong banks

Suspicious transaction reports received by police rose 15.4 per cent last year to 38,000

RMB500m missing from bank accounts in China in past 3 months

Police later found that a combined total of 95 million yuan (US$15 million) had disappeared from the accounts of 42 different bank clients.

Hong Kong police investigate Birmingham City’s ‘missing’ £2.55m

The BIHL statement did not name the former employee

Chinese regulator sets up department to supervise trust firms

Core reasons for the reform are to "strengthen on-site inspection and supervision"

Standard Bank Seen Writing Off Metal Held in China Probe

The Johannesburg-based lender has already written down the value of the metal by about half and said last month that any recovery was highly uncertain.

Bid for pan-Asian ‘passport’ for managed funds

THE federal government is advancing plans for a pan-Asian “passport” for managed funds, with new Assistant Treasurer Josh Frydenberg declaring it would provide a major fillip to Australia’s financial exports.

BEA Union on hiring drive, readies funds

Having rebuilt its team following a string of departures over the past two years, the firm is now looking for talent to bolster its operations as it sets out to launch a string of new products.

China's CITIC Securities pledges to fix margin trading business after reprimand

Top Chinese brokerage CITIC Securities Co Ltd admitted it had violated rules in its margin trading business and pledged to correct its mistakes after regulators clamped down to help cool the red-hot stock market.

Schroders Singapore granted RQFII status

The RQFII licence will be used for its UCITS fixed income fund

Former minister Harshwardhan Patil under ACB scanner

Congress leader and former cooperative department minister, Harshwardhan Patil is under the anti-corruption bureau scanner.

Consortium comprising DBS shortlisted to buy Coutts: Sources

A consortium comprising Singapore’s DBS Group Holdings is among the shortlist of banks for the second-round sale process of Coutts International

CBRC eyes new trust body to combat risk: reports

Their wide remit enables them to roll out a range of services in response to market change.

Tax uncertainty still looms over offshore fund regime

The Securities and Exchange Board of India's moves to help domestic fund houses manage more foreign capital is likely to need some assistance from the revenue department.

RBNZ wins Central Bank of the Year award

The Reserve Bank of New Zealand, which led industrialised nations in first starting to raise rates after the financial crisis, has won the Central Bank of the Year award.

Standard Chartered May Take Commodities Provision: Credit Suisse

The bank faces an increase in risk-weighted assets of $24 billion “as the riskiness of the commodities portfolio is re-assessed,” Credit Suisse analysts led by Carla Antunes-Silva, with an underperform recommendation on shares, wrote in a note

Broker returns to face charges

A New Zealand-based money broker will return voluntarily to his former home of Britain this year to face fraud charges and allegations he tried to manipulate international banking rates.

Chief regulator hints at early Hana Bank-KEB merger

South Korea's chief financial regulator on Monday hinted he may approve a merger of two local banks without an agreement with the labor union, a change from his earlier stance.

Sri Lanka's composite insurers on track to complete regulatory push

Director General of the island's insurance regulator Damayanthi Fernando told LBO that seven out of twelve composite insurers have so far completed their segregation requirements

Lenders ask court to freeze Kaisa’s assets

The first three applications, by local branches of Citic Bank, Bank of China and China Resources were first reported by Caixin, a mainland business journal.

Greenberg Traurig Announces Tokyo Office, Expanding Asia Practice

The Tokyo office will be led by an award-winning team of English-speaking Japanese lawyers

Legal, Regulation & Compliance