Managers of Wealth Asia Pacific

Asian Wealth Management Unit of RBC Fined HK$7.7M in Hong Kong

The company mishandled client assets on several occasions.

Banque de France Governor inaugurates Asia-Pacific Representative Office in Singapore

Banque de France’s office in Singapore is its second overseas office, following the opening of a Representative Office in New York office in 2010.

Update on Progress of Developing the Equitable Loss Sharing Framework for Scams

S is keenly aware of the importance of this framework and will publish the consultation paper as soon as possible.

OTC derivatives provider Sirius Financial Markets surrenders licence, former executives handed eight-year bans

Sirius Financial will surrender its licence and wind down retail and wholesale operations and will cease providing financial services on 29 July 2022.

Australia's first Islamic bank wins restricted banking licence

Islamic banks are growing rapidly all over the world and offer fundamentally different banking products without interest - such as home finance with co-ownership, and savings accounts that pay profit-share.

Philippines c.bank governor says "may or may not" raise rates in August

When asked if the central bank was still looking at further raising rates at its meeting on Aug. 18, Bangko Sentral ng Pilipinas Governor Felipe Medalla said in a phone message "may or may not"

Baker McKenzie acts on six award winning deals

The Asia Legal Awards honor the best work in the region and identify the most important transactions and cases with the most complex and outstanding legal work in Asia.

APRA removes Allianz’s additional capital requirement

Satisfied that Allianz has now completed the transformation programs in accordance with the commitments and timeframes set out in the CEU

Monetary Authority of Singapore and People’s Bank of China Further Renew Bilateral Currency Swap Arrangement

The BCSA renewal was signed by MAS Managing Director Ravi Menon and PBC Governor Yi Gang and was effective from 13 July 2022.

Philippine central bank makes surprise 75 bps hike in interest rates

The central bank, which had been due to review its monetary policy in August, has now raised rates by 125 basis points since May.

Singapore's policy quirk lures bank funding rush

"Naturally, you'll attract a lot of issuers."

HKMA joins the International Financial Consumer Protection Organisation

"With Hong Kong being an international financial centre, the HKMA has been actively participating in international discussions in respect of financial regulation so as to ensure that our regulatory standards are up to date."

ASIC acts against eight SMSF auditors

These actions are in addition to the 10 SMSF auditors that ASIC acted against because of their failure to lodge annual statements

ASIC issues civil penalty proceedings against wholesale licensee Lanterne Fund Services for risk and compliance failures

ASIC is concerned that for an extended period there was a real risk of investor harm due to shortcomings in Lanterne’s systems and processes

MAS and IBF adjust training scheme funding parameters amidst stepped up skills development support for Finance Sector

These changes will better enable MAS to continue with increased funding support in growth and priority areas.

ASIC releases guidance for superannuation calculators and retirement estimates

Superannuation calculators and retirement estimates are low-cost forecasting tools that are intended to be a helpful prompt for consumers to review their financial situation

Magellan updates High Conviction Trust

The trust had also increased the number of companies it could hold from 12 to 20.

Carey Olsen advises Morningstar in purchase of Praemium's UK and international business

The deal, first announced in December last year, has now completed after gaining the necessary regulatory approvals and sees Morningstar acquire 100% of Praemium's operations in the United Kingdom, Jersey, Hong Kong SAR and Dubai.

Five reach partner level at Baker McKenzie

Two of the partners were named to their new positions while on parental leave

APRA revokes Citigroup Pty Limited's banking licence following NAB acquisition

This determination follows the acquisition of CPL’s consumer banking business by National Australia Bank Limited (NAB) in June 2022

Legal, Regulation & Compliance