Managers of Wealth Asia Pacific

ASIC releases 2020–21 Annual Report

ASIC also continued to build ASIC’s enforcement capability, securing $189 million in civil penalties and increasing new criminal litigation by 28%.

ASIC further extends temporary financial advice relief measures in COVID-19 instrument

ASIC decided to extend this relief after industry consultation identified that the extension would be helpful for financial advisers in the current circumstances.

MAS Monetary Policy Statement - October 2021

Private transport inflation is likely to moderate next year against a slower pace of increase in COE premiums and petrol costs.

ASIC calls on Australian CEOs to review whistleblower policies

ASIC reviewed a select sample of whistleblower policies and is concerned the majority of those policies did not fully address the relevant requirements.

ASIC cancels AFS licence of Vanda Russell Gould

This includes the obligation to hold membership of a dispute resolution system and to lodge financial statements annually.

Gaps in climate disclosure will hit corporate access to capital

Yet the majority of companies in emerging markets have little visibility on what their climate risk exposure might be.

China Crackdown Reaches the Financial Sector

The involves an examination that was first announced in September

Indonesia regulator sets up sustainable finance task force

Other regulators in the region have also been taking steps to bolster sustainable finance and environmental, social and governance practices.

Green and Sustainable Finance Cross-Agency Steering Group supports Hong Kong’s Climate Action Plan 2050

Hong Kong will continue to consolidate its position as the green finance hub for Asia and the Mainland including the Guangdong-Hong Kong-Macao Greater Bay Area to connect international investors and the Mainland markets.

Rates Unchanged, But Gradual Liquidity Withdrawal

Global central banks across the world have indicated taper over the last month.

APRA increases banks’ loan serviceability expectations to counter rising risks in home lending

APRA Chair Wayne Byres said this is a targeted and judicious action designed to reinforce the stability of the financial system.

Hong Kong to scrap MPF offsetting scheme, plans new measures

She also said the government will facilitate MPF investments in China’s government and policy bonds, again without offering details.

China's Fintech Crackdown Not Over Yet

China's once-flourishing fintech industry has been hit by a wave of regulation. State authorities forced Jack Ma's Ant Group to cancel its much-awaited initial public offering last fall, and peer-to-peer lending, once booming in in the country,

Credit licensees required to meet new breach reporting obligations from 1 October 2021

Breach reporting reforms for Australian financial services (AFS) licensees and credit licensees commenced on 1 October.

Westpac accredited as data recipient under Open Banking

"We are pleased the ACCC has approved Westpac as an Accredited Data Recipient under the Consumer Data Right."

Real estate finance - Post COVID-19 trends across the globe

The asset classes which remain a favourite with lenders are beds, sheds, meds, and watts.

FATF - Consolidated assessment ratings

FATF and FSRBs conduct peer reviews on an ongoing basis to assess how effectively their respective members' AML/CFT measures work in practice

Deloitte takes top honours at human resources awards

The firm was lauded for establishing a number of innovative initiatives, including its personalised learning platform, Cura, and MyBenefits, a one-stop-shop for all exclusive Deloitte benefits.

A legal perspective on DDO

Simply by publishing TMDs to the Iress Blockchain, you automatically meet your first regulatory obligation, and at no cost.

ASIC provides relief for companies in external administration

The deferral relief commences when a voluntary administrator or provisional liquidator, or a managing controller over substantially the whole of the property of the company, is appointed.

Legal, Regulation & Compliance