Managers of Wealth Asia Pacific

$21m tax case against Brisbane millionaire

A WHISTLEBLOWER who leaked sensitive client details from a secretive bank in Liechtenstein supplied critical evidence in a successful $21 million tax case against a Brisbane millionaire.

Scottish firm Gillespie MacAndrew to open office in Perth

This will be the firm’s second office in Scotland, after having a presence in Edinburgh for the past 15 years.

Axiom gears up for India and Singapore launches

Axiom, which specialises in providing bank lawyers for in-house legal functions, is scheduled to open a service delivery centre in Gurgaon, India in late November.

Singapore: Banks warned against European tax evaders

A German media report put an unwelcome spotlight on Singapore, Asia's prominent wealth management centre, earlier this month, saying that some Swiss bankers had advised clients to transfer funds there before the implementation of a deal to tax German

Clayton Utz recruits new talent to Corporate practice

She joins Clayton Utz from RBS (formerly ABN Amro), where she has held various legal and banking roles for nearly a decade.

SSgA calls for change to QFII rules

The firm says it wants the flexibility of the RQFII scheme to be adopted in order to create a level playing field between Chinese, Hong Kong and foreign ETF operators.

Deals flow for Linklaters, Allens

The alliance with Allens, which took effect in May, falls short of a financial merger, but means the two firms are integrating their business, working on joint pitches and have folded their Asian practices into joint ventures.

International law firm beefs up Australian M&A team

He joins the firm’s Sydney office from Jones Day and will also serve clients in Africa

SGX Files Report on MF Global Singapore with MAS and Liquidators

The report is rendered pursuant to section 81H of the Securities and Futures Act and states that no sum is payable to or from MFGS. Creditors of MFGS may approach the liquidators of MFGS for more information.

Bird & Bird appoints China chief in regional push

The firm's London and China executive committees developed the first-time roles in light of its ambitious strategy to grow the area to represent 20% of the firm's total revenue and lawyer headcount in the next three to five years.

SFC reprimands and fines Merrill Lynch HK$3.5 million for regulatory breaches

The clients were the subject of a fraud perpetrated by Ms Joyce Hsu Ming Mei, a former licensed representative of Merrill Lynch.

Appleby bolsters Asian team

John Melia added: “I am really excited to be joining our established and experienced transactions team in Hong Kong, and look forward to helping them build on their success in delivering the highest standards of service to our clients in Asia and w

Ex-RBS Trader Claims Bank Omitted Key Records on Rate-Setting Practices -Court Filing

Mr. Tan has argued throughout the case, which commenced late last year, that is common practice for senior bank employees to make requests to RBS's rate setters about appropriate rates.

Singapore says banks warned against European tax evaders

"MAS does not tolerate any flow of illicit funds through our financial system," she said in an emailed statement to Reuters.

Vietnamese banker Nguyen Duc Kien arrested

Stock markets tumbled yesterday when the high-profile detention was reported in the state media, with the main HNX index closing down by 5.24pc.

Hong Kong backs plan to probe Hibor interbank rate

Britain's Financial Services Authority is considering possible reforms to how the Libor is set after a scandal erupted in June over rigging of the rate. Mr. Chan noted that Hong Kong would wait for the recommendations to see if the city would follow

Hong Kong Clarifies Profits Tax Concession On Debt Instruments

The HKMA announced the latest minimum acceptable credit ratings applicable to long-term debt instruments in June 2006.

China tightens lending rules for trusts, corporate bill market

The moves, coming separately from the People's Bank of China and the China Banking Regulatory Commission, form part a campaign to clean up China's financial system as it opens up domestic capital markets to diversify funding options for cash-s

As Dodd-Frank looms, Asian banks look to cut U.S. trading ties

The Dodd-Frank Act was spurred by the 2008 financial crisis and aims to impose tighter supervision of cross-border derivatives trade following incidents such as the loss-making trades by the so-called "London Whale" at JPMorgan's UK office.

Baker & McKenzie Targets Myanmar With New Counsel Hire

Firm would like to open a local office within about a year, depending on the political situation

Legal, Regulation & Compliance