Managers of Wealth Asia Pacific

Singapore regulator modifies hedge fund rules

Singapore's financial regulator has published final rules enacting changes for fund management companies (FMCs) operating there.

Standard Chartered rejects Iranian 'scheming' claims: statement in full

Standard Chartered has firmly rejected claims that it “schemed” with Iran to conduct secret transactions worth $250bn (£160bn). Here is its statement in full.

MAS toughens regulations for fund management companies

The Monetary Authority of Singapore (MAS) has announced that the implementation of an enhanced regulatory regime for fund management companies (FMCs) will take effect from 7 August 2012.

Morgan Stanley Sued by Singapore Firm Over Pinnacle Notes

The notes later failed and the Singapore-based company was required to compensate customers for at least $32 million in losses, according to the filing.

UK Bank Accused Of Rogue Deals With Iran

It labelled UK-based Standard Chartered a "rogue institution".

Nomura gets relatively light sanction in Japan insider case

In making its decision, the FSA took into account the steps taken by Nomura already including a voluntary suspension of institutional equity sales activities for a week last month.

Nomura Securities Statement on Administrative Action by Japan’s FSA

In relation to matters raised in recommendations issued by the Securities and Exchange Surveillance Commission, we announced a series of improvement measures on June 29, including strengthening the management of corporaterelated information, improving o

ICBC, Bank of China Fined on Fraud Reports, Daily Says

Local media had extensive coverage on cases including loansharking by bank employees and fundraising fraud before authorities were briefed on the matters, Shanghai Daily said.

MAS sets deadline for new regulatory regime in Singapore

The announcement was made by Ravi Menon (pictured), managing director of the MAS, at the MAS annual report 2011/12 press conference held last week in Singapore.

Tibor & Sibor reforms set to follow UK

Although banks that participate in the setting of Sibor and Tibor are being scrutinized, sources do not expect a regulatory crackdown in either jurisdiction.

Nomura Faces Penalties for Role in Insider Trading Scandal

The Securities and Exchange Surveillance Commission, which is the investigative arm of Japan’s Financial Services Agency, recommended that the regulator take unspecified disciplinary action against the country’s biggest brokerage, the SESC sai

Exchange programme enhances HK-Shanghai financial co-operation

Miss Au said she believed the Shanghai post-secondary students could experience the unique international appeal of Hong Kong through their study tour here.

KPMG converts to special group partnership in China

According to the new regulations, the auditing giants should form special group partnerships with limited liability to continue their business in China when their joint venture terms end.

Chinese Efforts To Reshape Tax System Lauded

The IMF urged Beijing to continue these efforts, and frame them with clear medium-term fiscal plans, to provide evidence that the reform agenda is fiscally sustainable.

India revises tax treaty with Indonesia

The revised tax agreement would provide for effective exchange of information, including banking details

Israeli and china ink economic ties

Accountant General Ms. Michal Abadi-Boiangiu said that "the financial protocols with China enable the financing of export deals that would not have been carried out had it not been for the agreements.

Singapore advisers slapped for compliance failures

The Monetary Authority of Singapore (MAS) has reprimanded two companies for failing to ensure their employees met the minimum exam requirements of the Financial Advisers Act.

Korea - Offshore money laundering, wealth transfer surges

The Korea Customs Service said it has clamped down on 48 cases of offshore wealth transfer, money laundering and other related crimes during the January-June period.

Slaughters targets Aussie quartet as it abandons sole best friend strategy

Slaughter and May has drawn up a list of four preferred local firms to work with in Australia in the wake of Linklaters’ alliance deal with Allens.

S Korea's illegal wealth transfers soar in recent years: data

They involved a total of 152.8 billion won (US$132.8 million) in 2010, up from 16.6 billion won in 2007, the data showed.

Legal, Regulation & Compliance