Managers of Wealth Asia Pacific

Are COVID vaccination directions coming to your workplace?

The work type tiers focus on levels of interaction between people in the workplace and the level of risk and consequences of infection.

Linklaters advises Bank of China

Bank of China, through its London and Hong Kong SAR branches, priced £300m 2-year SONIA Index bonds and US$500m 3-year SOFR Index bonds, respectively.

CSRC to Increase Scrutiny on Fund Manager Governance

A key objective for the CSRC is to improve the administration and “effectiveness” of institutional supervision, which it says should be scientific, professional, and continuous.

HKEX to Launch of New Options on Futures Contracts

Participants should also ensure end clients understand the settlement mechanism and risk involved in the new products, and effectively communicate the differences between Options on Index and OOF products.

Court declares Bank of Queensland used unfair contract terms

The Court declared the unfair terms void from the start of the contracts and ordered that the unfair terms be replaced with new, fair terms agreed by the parties.

China expands anti-money laundering obligations

The new Measures are a significant development, demonstrating China's efforts to improve and enhance its anti-money laundering (AML) and counter-terrorist financing (CTF) regime.

Carey Olsen pair named as top offshore litigators in Asia

Lawyers were selected based on the profile of their cases, client recommendations, and feedback from the market.

ASIC’s approach to new laws reforming financial services sector

The benefits will increase over time as consumer outcomes become the focus and experience accrues.

APRA finalises new approach to licensing and supervising new banks

The revised approach followed a review of APRA’s ADI licensing regime aimed at incorporating learnings since the launch of the Restricted ADI licensing pathway in 2018.

APRA releases consultation on further updates to Reporting Standard ARS 720.1 ABS/RBA Loans and Finance Leases

ARS 720.1 currently collects data on impaired exposures, which will no longer be used in APS 220

ASIC issues court action alleging unlicensed advice in relation to unregistered managed investment scheme

ASIC is seeking winding up and disqualification orders and the appointment of liquidators and receivers to secure assets of the alleged scheme.

Ogier shortlisted for three ALB Hong Kong Law Awards 2021

The ALB Hong Kong Law Awards are the pre-eminent legal awards in Asia and honour the outstanding performance of private practitioners and in-house teams in the region.

Reserve Bank warns Westpac over anti-money laundering system failures

This formal warning reflects the importance of the prescribed transaction reporting regime in building an intelligence picture across New Zealand’s financial system

How much ASIC spent on its unmet advice needs project

ASIC would shortly publish a document which provided a high-level summary of key issues raised in the submissions and provides public transparency of the issues raised in response to CP 322;

Govt failed on financial advice reforms: Labor

Brockman noted the vast majority of people working in the financial advice industry did not act in a way that the “many egregious ones did”.

Once mighty bank-licensed cohort shrinks to 500-odd advisers

After profit margins slimmed and a raft of advice scandals came to light in the early 2010

Govt seeks feedback on FSCP and FAR

The Better Advice Bill passed the House of Representatives on 4 August, 2021, which aimed to legislate Recommendation 2.10 of the Royal Commission to establish a new disciplinary system for financial advisers.

Alibaba to sack manager accused of rape, according to memo seen by BBC

"He will be fired and never be rehired. Whether he has committed rape or indecency that violates the law will be determined by law enforcement."

ASIC cancels or suspends twenty-four Australian credit licences

ASIC works with AFCA to identify financial services licensees and credit licensees that do not comply with their general conduct obligations.

Papas scandal referred to Financial Crimes Squad

In July this year, police received a report of an alleged multimillion-dollar fraud against a financial organisation.

Legal, Regulation & Compliance