Managers of Wealth Asia Pacific

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

Morgan Stanley Ex-Official in China Sentenced to 9 Months in Prison

Morgan Stanley believed it was selling a 12% stake in the building to a unit of a state-owned real-estate company but instead sold shares to an entity controlled by Mr. Peterson, the Chinese official and a Canadian lawyer, prosecutors said.

Singapore court awards Marcos millions to PNB

Marcos ruled the Philippines from 1965 to 1986, when he was overthrown by a popular revolt. He died in exile in Hawaii in 1989.

Iran seeks higher returns on S. Korea bank accounts

Iran's central bank has won-denominated accounts at Industrial Bank of Korea and Woori Bank, both owned by the Korean government, to settle payment for its oil sales to Seoul, and its product imports from the Northeast Asian country.

Australian private banker steals from famous author

She worked for the private banking division, which offers personalised service to high net wealth customers.

SFC reprimands and fines RBC Investment Management (Asia) HK$4 million

RBC has also agreed to make repurchase offers to eligible customers and compensation to eligible former customers in a resolution made under section 201 of the Securities & Futures Ordinance.

HSBC banker sues Yahoo Singapore over online imposter

According to Bloomberg, Sandeep Sharma, a managing director at HSBC private banking arm, has asked the Singapore High Court to make Yahoo! Asia Pacific reveal the identity of a person using the name "Sandeep" and claiming to be Sharma.

Standard Chartered's $340m fine is not the last dish on the menu

Shave off £5.8bn and set to bake for one week. Take out of oven right before courtroom hearing. Serve cold to investors.

More than 400 financial industry workers punished

The total figure is double that of the same period last year, which was 222, and is already nearly 74 percent of the total count for 2011.

Asia steps up fight against money laundering

US regulators are getting tough over money laundering activities and central banks in Asia are also monitoring developments closely.

MAB and 3VB offer first defence in Barclays test case

The defence statement was compiled by 3VB’s Adrian Beltrami QC, instructed by Matthew Arnold & Baldwin partner Clare Stothard, for Barclays.

India to seek HSBC, Stanchart details from FSA

Issues related to HSBC and Stanchart would be discussed at the next meeting of representatives of RBI and FSA, along with other supervisory developments and matters concerning various banks having operations in India and the UK, the official said.

QFB banks deepening their roots in S'pore

There are currently eight banks on the QFB scheme, two of which have already established a local subsidiary, or have announced plans to do so.

Eversheds prepares ground for imminent Beijing launch

No specific reason was given for the delay.

Tokyo may deploy 1st Hong Kong inspector as banks expand

A Financial Services Agency (FSA) official would take charge of inspecting Hong Kong branch offices of Japanese lenders including Mitsubishi UFJ Financial Group Inc, Hiroshi Okada, a spokesman for the regulator, said by telephone yesterday.

Malaysian Banks Can Meet Basel III Capital Rules

The gradual transition to higher capital standards from Basel II would over time enhance the resilience of the domestic banking sector as a whole.

Chinese banks’ Weapons of Mass Ponzi

If you’re wondering what sort of assets that includes, Reuters wrote up an excellent investigation of the WMP scene, beginning with the case study of “Golden Elephant no. 38″ which promises a 7.5 per cent return.

Standard Chartered’s ‘boring’ Asia story makes it a target

Standard Chartered has what its own chief executive has described as a “boring” business model of financing trade in and out of Asia, which means doing a lot of transactions involving foreign currency on one side and U.S. dollars on the other.

Japan's biggest bank suspends UK trader over Libor scandal

Japan's biggest bank has suspended a London-based trader over the widening interest-rate rigging scandal in Britain that has rocked confidence in financial markets.

Australia Sees No Need For Bank Ring-Fencing Regulations

In the U.K., lawmakers are debating proposals to force banks to ring-fence their retail banking operations from the riskier investment banking activities by 2019.

Legal, Regulation & Compliance