Managers of Wealth Asia Pacific

JBWere boss fails to win redundancy

The former boss of JBWere, Paul Heath, has failed in a bid for a redundancy payment after being moved to a new job as part of a restructure by parent company National Australia Bank.

Ex-Deutsche salesman says was told to mask Japan pension expenses

Japanese law treats officials at pension funds that manage public money as the equivalent of public servants, meaning that spending to entertain and win business from them can be prosecuted as bribery.

China Audit Uncovers Irregularities at Wealth Fund, Big State Banks

China's government auditing agency said Wednesday it found financial irregularities at two big state banks and the nation's sovereign wealth fund last year and that all three need to tighten their management.

China Banks Win PBOC Backing to Cut Reserve Ratio

The central bank announced a week ago that it was trimming by half a percentage point

Allen & Overy Aussie head to leave the firm

Fuzi was among a team of 14 partners who left Clayton Utz at the end of 2009 to set up A&O’s Australian offices in February 2010

MAS unveils new measures to promote offshore RMB

The Monetary Authority of Singapore will provide an overnight RMB liquidity facility to financial institutions from July 1

China starts regulating informal bond market makers for first time

The announcement by the China Foreign Exchange Trade System confirms previous source-based reports by Reuters that the regulator was planning to implement new regulations.

China to Relax Control over QDII, QFII

China has signaled it will relax control over Qualified Domestic Institutional Investors and Qualified Foreign Institutional Investors in a showcase of its determination to speed up the yuan's convertibility under the capital account.

UBS adviser banned from financial services industry

Former UBS financial adviser was banned from the financial services industry for engaging in misleading and deceptive conduct.

Hong Kong Regulators Tense About China Loans

Worries are increasing about a credit squeeze in China

Australia: FSC and ISA both claim Federal Court victory

Both the Financial Services Council and Industry Super Australia have claimed a victory in the Federal Court, even though the court's orders essentially uphold the FSC's objections.

Japan Money Managers Say Yes to Greater Activism With Firms

The biggest Japanese institutions are almost all included

Malaysia eases rules on foreign fund managers, corporate bonds

Malaysia’s Prime Minister Najib Razak announced steps to liberalize the country’s financial sector on Monday, removing barriers faced by foreign-owned fund managers and easing ratings requirements for the corporate bond market.

Bankers pitch for a National Asset Management Company

It will take over large NPAs of banks and help in revival of companies ridden with bad debts

Merrill Lynch Equities fined by ASIC

The penalty was for failing to prevent the entry into the ASX Trading Platform of an erroneous Order which resulted in a market for RIO Tinto Limited ordinary shares not being both fair and orderly.

SMFG chairman Oku concerned over US, UK banking rules

Masayuki Oku takes issue with regulations that exceed demands of Basel III regime

Rogue Vietnam banker jailed for 30 years over $1 billion fraud

A Vietnamese court jailed a tycoon and former banker for 30 years on Monday for his part in a series of elaborate financial scams worth $1.1 billion that have become one of the country's most high-profile banking scandals.

India slashes red tape to entice foreign investment

A new regime for foreign portfolio investors introduced on June 1st is likely to improve fund flows into India

NZ Options trader admits fraud

A stockbroker who used his investors' money to repay others and fund part of an advance fee for a $US20 million loan has admitted fraud charges.

US scheme late in paying $64.8m to Singapore investors

The US operators admit there are problems, but say they hope to return money to investors.

Legal, Regulation & Compliance