Managers of Wealth Asia Pacific

ASIC permanently bans Sydney financial planner

To prevent future harm to clients of financial services businesses.

Former mortgage brokerage company convicted and fined for knowingly making a false statement to ASIC

ACF held an Australian credit licence, and Mr Yang was the sole fit and proper person and responsible manager on the licence.

NAB advised of referral to Austrac enforcement team

“NAB has an important role in monitoring and reporting suspicious activity and keeping Australia’s financial system, our bank and our customers safe.

Australia's NAB reveals anti-money laundering probe, shares fall

The investigation would now be handled by AUSTRAC's enforcement team, the agency said.

Reassessment of FNZ/GBST deal confirms competition concerns

This is because FNZ and GBST, which are both providers of retail investment platform solutions, are close competitors and few other significant suppliers offer effective and competitive alternatives.

China ups fines and widens scope of draft money laundering law

Fines for offences will be increased to up to 2 million yuan, up from a previous maximum of 500,000 yuan, for failing to conduct due diligence on clients and reporting large or suspicious transactions.

Vietnam’s Data Privacy Decree: the Tip of the Global Compliance Iceberg

This move brings Vietnam in line both regionally and globally with other data privacy legislation, chief among these is the GDPR which is now celebrating its third anniversary.

"2L, or Not 2L, That Is the Question": Leading the Charge of Second Lien Financings in the European and Asian Fund Finance Markets

Facilities can be overcollateralized given that the borrowing base that lenders use to assess availability under a Facility often does not include all Investor commitments a Fund has access to, but the Security granted does extend to the right to call on

Withers advised on the launch of Japan's first ESG-focused global venture capital fund

The target of capital commitments is anticipated to be US$150 million

Ashurst advises BSP Financial Group on listing on ASX

Ashurst advised BSP in connection with all aspects of its ASX listing including securities regulation advice, fundraising advice and corporate governance arrangements.

Baker McKenzie advises Gaw Capital on its USD 430 million Gaw Growth Equity Fund I

The Baker McKenzie team was led by Partner Jason Ng, co-chair of the Firm's Global Funds Group, together with Hong Kong-based fund formation specialist, Edwin Wong.

New offices for Carey Olsen Singapore

t is also the only office in Asia to offer on-the-ground legal advice on the laws of Bermuda, the British Virgin Islands, the Cayman Islands and Jersey.

Forex CT ordered to pay $20 million penalty and sole director disqualified, fined $400,000

Forex CT offered clients opportunities to trade in contracts-for-difference (CFDs) and margin foreign exchange contracts issued by the firm.

APRA releases letter to ADIs on implementation of capital framework reforms

APRA is now writing to ADIs to set out a clear timeline to finalise the consultation phase, and to support the banking industry’s implementation of the reforms.

Fraud claims over Scottish ‘mini-umbrella’ firms with directors in Philippines

New research estimates that about 600 “mini-umbrella” companies have been set up to take advantage of the employment allowance

China Mulls Shareholding Restructuring for Huarong

External investors are also being considered to reduce the finance ministry’s controlling stakes.

MAS issues Prohibition Orders against Mr Younis Adnan Mohammed for fraud and dishonest conduct

Mr Younis pleaded guilty and was convicted of one count of forgery and one count of providing false information to a public servant under section 465 and section 182 of the Penal Code respectively.

Enhanced RMB Conversion Arrangement for Bond Connect

The new arrangement presents new opportunities to settlement banks in Hong Kong as overseas investors investing in the CIBM via Bond Connect are given more choices in their selection of banks for the provision of foreign exchange services.

'Your Future, Your Super' exposure draft regulations – what they mean for the super industry

Much anticipated draft regulations for the 'Your Future, Your Super' Bill contain some surprises

China updates regulation on wealth management market

The CBIRC has given firms a six month transition period to comply with the requirements.

Legal, Regulation & Compliance