Managers of Wealth Asia Pacific

State sharia banks may merge this year

State-owned sharia banks and units seem likely to merge to form a new large sharia-compliant lender this year as regulators and the government are currently preparing the right scheme for it.

Executives at parent firm of Credit Suisse's China partner summoned in probe

The statements closely followed an announcement by Founder Securities on Friday that a court had frozen 1.77 billion yuan ($285 million) in its bank accounts, in connection with a dispute with Beijing Zenith Holding Ltd, its second-largest shareholder.

Sebi to bar wilful defaulters from raising funds, takeovers

To sternly deal with wilful defaulters, market regulator Sebi on Tuesday proposed barring such entities from raising funds from the capital markets

FDI changes in insurance norms may benefit small local partners

The Cabinet, through an Ordinance, has raised the FDI limit in insurance to 49%, recommending a composite cap of 49%, which would include all forms of foreign direct investments and foreign portfolio investments

Ex ING SITC vice president jailed for embezzlement

The China Post previously reported that on occasions when Mr. Hsieh had inside information that certain shares might drop in value, he sold his own shares first and government stakes later.

HSBC, Hong Kong Under Scanner As US Steps Up Investigation Of American Tax Frauds

Official with the U.S. Internal Revenue Service (IRS) are currently deployed in foreign jurisdictions, including the American consulate in Hong Kong

Moody’s Hearing, Meinl Charges, Schutz on Banks: Compliance

Moody’s filed a challenge to the tribunal on Nov. 24 to the SFC’s reprimand

Money launderers invent new ways

Money launderers are coming up with new and inventive ways to go about their financial crimes

Ex-president's illegal gains, fines amount to NT$1 billion

Taipei, Jan. 5 On a day when former President Chen Shui-bian was released on medical parole, the Supreme Prosecutors Office issued a reminder Monday that Chen and his family have racked up illegal gains and fines of NT$1.01 billion so far.

Asia to test bond record again in 2015

Barclays is forecasting volumes in Asia, excluding Japan and Australia, to rise 10% in 2015

Korean banks pressured to regain trust after fraud cases

The Financial Supervisory Service is poised to take disciplinary action in the next two months against officials involved in loan fraud at KT ENS, the accounting fraud at Moneual and Shinhan Bank's illegal access to customer accounts.

Experts call for eased regulations

Under the rule, tech companies including Daum Kakao and Naver are not able to set up online banks, causing the already weak local fintech industry to lag further behind other nations.

Indonesia & Malaysia Support Banking Integration in ASEAN Region

The website of Bank Indonesia states that ABIF “provides an operating framework for ASEAN member states to implement principles and the integration process in the banking sector to support the ASEAN Economic Community (AEC) [which is to be implement

Moody’s Denied Private Hearing on Appeal Against Hong Kong Fine

A Hong Kong tribunal rejected a private proceeding request by Moody’s Investors Service for its appeal against a HK$23 million penalty and public reprimand imposed by the city’s securities regulator.

Sebi notifies rules on launch of new mutual fund schemes

The move will come in force with immediate effect.

Regulatory push: Indian banks abroad going local

Pressure from regulators is forcing Indian banks to focus more on the local banking needs in overseas jurisdictions.

Easier Bank Access

Loosened banking regulations may spur an increase of foreign banks in China

China steps in as the banker to call in a pinch

Thanks to China, Christine Lagarde of the International Monetary Fund, Jim Yong Kim of the World Bank and Takehiko Nakao of the Asian Development Bank may no longer have much meaningful work to do.

China Negotiates Seizure of Ill-Gotten Offshore Assets

Chinese authorities are seeking to strengthen their collaboration with Western countries to recover ill-gotten assets which have been sent offshore.

Insurance Ordinance to help companies raise funds: Finance Minister

The hike in FDI cap in the insurance sector has potential to attract up to USD 7-8 billion

Legal, Regulation & Compliance