Managers of Wealth Asia Pacific

China Orders Banks to Speed Up Ditching Nonstandard Wealth Management Assets

Regulators in the first half of this year already ordered banks to speed up the disposal of remaining nonstandard credit assets, the person said.

NAB to pay $18.5 million penalty for fee disclosure statement failures

The Court acknowledged NAB’s efforts to make early admissions of liability and took this into account in determining penalty.

ASIC publishes Corporate Plan 2021-25

‘ASIC has an important role to play in promoting economic recovery and confidence in the financial system, especially in the face of the ongoing pandemic.’

As Artificial Intelligence becomes more mainstream, ESG considerations are a key part of ensuring responsible adoption

Broad applicability of AI across society must be handled carefully and professional accountants have a key role to play

BIS Innovation Hub and HKMA investigate how tokenized green bonds can improve sustainable investment

After starting with design thinking workshops, the development teams are now working in iterative sprints to build the prototypes, collaborating with key stakeholders in the Hong Kong financial ecosystem.

Indonesian regulator introduces digital banking regulations, report says

“The pandemic has made the digital transformation in the banking sector an inevitability,”

MSCI Shrugs Off China «Investability» Concerns

According to Fernandez, every emerging market in the world has faced similar criticism, adding that India and Mexico were at times also deemed uninvestable due to actions by their governments.

Compliance a barrier for multidisciplinary advisers

“We encourage all the advisers to give a holistic advice and most of them do but we also encourage and support the limited scope of advice where it’s appropriate,”

Indonesia's Bank Central Asia Targets Digital Growth

Indonesia-headquartered super-app Gojek increased its stake in Bank Jago in December 2020 as part of its bid to accelerate financial inclusion in Asia

ASIC consults on payment for order flow rule amendments

Payment for order flow is not prevalent in the Australian equity market, however ASIC has observed continued growth of payment for order flow in other markets (mostly the US).

Personal Information Protection Law: China's GDPR is Coming

Overseas companies caught by the exterritorial jurisdiction of the PIPL should establish a dedicated entity or appoint a representative in China to handle matters

Asian Development Bank: integrity compliance and enforcement

The OAI's investigation and enforcement activity continued more or less unabated, despite the OAI being required to pivot to remote working because of the pandemic.

Swiss Court Rejects Ex-BSI Banker’s 1MDB Appeal

The Federal Administrative Court turned down the appeal to lift a three-year regulatory ban over failure to properly combat money laundering.

China Probes Party Chief of Alibaba’s Home City

The posts, which did not the company, have since been deleted, the report added.

Westpac subsidiaries to pay $10.5 million penalty for breaches of best interests duty

‘Consumers’ decisions about their superannuation are significant long-term financial decisions affecting their retirement income.

The United States Department of the Treasury and the Monetary Authority of Singapore Finalise a Memorandum of Understanding on Cybersecurity Cooperation

This announcement was made during Vice President Kamala Harris’ visit to Singapore

Legal, Regulation & Compliance