Managers of Wealth Asia Pacific

Australian bank pays out over charging dead people

It also estimated that at least 25,000 customers were charged more than $5m in fees that had not been disclosed adequately.

Citi, Commerzbank Named in Congo-China Corruption Scandal

The deal was meant to help rebuild critical infrastructure in the DRC, improving the lives of everyday citizens.

ASIC launches multiple legal actions against Westpac

The Australian Prudential Regulation Authority (APRA) has also been reviewing these matters and ASIC and APRA have taken a coordinated approach to their respective inquiries.

ASIC reports on audit inspection findings for 12 months to 30 June 2021

The inspections covered financial reports for years ended from 31 December 2019 to 31 December 2020.

Investment holdings data Included in SGFinDex

SGFinDex was designed with data protection and privacy controls in place for personal information.

HKEx Announces Rule Changes To Attract Overseas Issuers - Especially Greater China Issuers

These amendments are detailed in the 'Consultation Conclusions on Listing Regime for Overseas Issuers' (Conclusions) – and this Update explains some of the key changes.

La Trobe Financial Asset Management to pay $750,000 penalty for false and misleading marketing

The Court found that the statement that any capital invested in the Fund would be ‘stable’, in the sense of there being no risk of substantial loss of that capital, was a false or misleading representation.

APRA increases capital requirements for Heritage Bank

“We also expect Heritage to assign Accountable Persons under the Banking Executive Accountability Regime with responsibility for delivering the sustainable change needed at the bank,"

MAS assesses economic case for retail CBDC

MAS’ strategic approach towards a retail CBDC for Singapore acknowledges the dynamic nature of the payment landscape, evolving public preferences and the potential of nascent technology solutions.

ASIC sues ANZ over ‘introducer program’ home loan referrals

Introducer programs received considerable criticism in the Financial Services Royal Commission.

SFC Regulatory Forum explores Hong Kong’s future role as China’s international financial centre

Other discussions focussed on the progress of regulatory initiatives to bolster Hong Kong’s position as an international asset and wealth management centre and address misconduct and other issues with listed companies and initial public offerings.

APRA finalises prudential guidance on managing the financial risks of climate change

APRA Chair Wayne Byres said the transition to a lower-emissions economy created financial risks that businesses needed to be prepared for.

Maples Group Recognized As Leading Law Firm At HFM Asia Services Awards

This is the third consecutive year that the firm has received the award in this category which recognised the firm's legal expertise and commitment to clients in the Asia Pacific region.

Report finds 'material shortcomings' in Westpac NZ board's oversight

As a result, the directors were not able to engage with and provide robust challenge to the executive on risk topics.

China's Anti-Monopoly Crackdown Hits Banking Sector

The penalty was part of a broader batch of more than 40 cases with fines issued to other tech firms outside of the banking sector

ASIC imposes additional licence conditions on ASX and issues expectations to improve market resilience

The ASX outage was a very serious event, exacerbated by subsequent operational issues.

Nicholas Plowman named as A-List lawyer in China Business Law Journal

Nicholas, who leads Ogier's Investment Funds practice in Asia, is one of the 100 PRC firm lawyers

Hong Kong SFC issues operational resilience standards and recommended techniques and procedures in the age of remote working

This is particularly the case given the SFC’s finding that many intermediaries are considering whether to maintain some form of hybrid working arrangement as the new normal after the pandemic.

New judge to hear 1MDB suit against Deutsche Bank, six other parties

On May 7, 1MDB as plaintiff filed a US$1.83 billion suit against seven defendants for alleged breach of contract

ASIC : Responsibility amid change

ASIC is not here to eliminate risk. Risk taking and encouraging innovation is an essential part of Australia’s financial system and economy.

Legal, Regulation & Compliance