Managers of Wealth Asia Pacific

Asia Employment, Pensions and Incentives Update

Continuing our look at India’s four new codes, this month we take a look at the new Industrial Relations Code and unpick what it means for employers operating in India.

Singapore's corporate venture launchpad selects BCG and McKinsey

The scale-up phase for high potential businesses may attract additional capital investment and value creation support through EDB New Ventures.

SEBI Enhances Sustainability Reporting Requirements for Listed Entities

BSBR reporting will be voluntary for FY 2021 –22 and mandatory from FY 2022 –23.

MAS Consults on Proposed AML Notices for Foreign Offices, FRCs

The regulator also sought feedback on the proposed notification forms to be submitted to MAS

APRA extends IDII overhaul deadline

The product has been a bugbear for providers due to its loss-making nature and its questionable ability to protect policyholders.

HKMC’s Financial Results Highlights for 2020

Despite the reported accounting loss of the HKMCA, the embedded value of the annuity business as at 31 December 2020 was about HK$5.4 billion, which comprised HK$4.1 billion of total equity and HK$1.3 billion of present value of future profits.

FASEA releases March Exam Results

Candidates are required to demonstrate professional reasoning and apply knowledge acquired to financial advice scenarios at AQF7 level of reasoning.

ASIC cancels Master Wealth Control’s Australian Credit Licence

ASIC’s investigation into Ms Grubisa remains ongoing.

APRA releases consultation to enhance capital adequacy for ADIs with subsidiaries

The revised capital treatment of ADIs’ equity investments in their subsidiaries is the most material change to APS 111.

Leading law firm for 8 areas in 2 jurisdictions in Benchmark Litigation Asia Pacific 2021

Benchmark Litigation Asia Pacific is a publication that focuses exclusively on the region’s litigation and dispute market, providing rankings of firms and litigators considered to be of an elite status.

MAS Issues Revised Corporate Governance Guidelines for FIs

The revised guidelines incorporate the changes to the Corporate Governance Code, as well as additional guidelines for Singapore-incorporated financial institutions, taking into account international standards and industry good practices.

1MDB, SRC file 21 separate civil suits worth billions against banks, individuals for involvement in fraud

One of the suits also targeted fugitive businessman Low Taek Jho (Jho Low), his father Tan Sri Low Hock Peng, sister Low May Lin and accomplice Eric Tan Kim Loong from whom 1MDB is seeking a total of US$1.402 billion (RM5.76 billion).

Malaysia sues Deutsche Bank, JP Morgan, Coutts over 1MDB

The three companies did not immediately respond to a request for comment on the claims in the lawsuit.

ASIC grants temporary relief from certain dollar disclosures in PDSs for litigation funding schemes

The relief is consistent with the current practice of Australian courts in permitting the non-disclosure of such information to opposing parties in class actions, given the information could provide a tactical advantage to opposing parties.

IOOF acquisition of MLC gets green light

MLC will deliver a step change in our scale and reach, providing substantial benefits to our clients, members, and ultimately our shareholders.

GBA Wealth Connect scheme becomes effective on June 5

The issuance of the rules marks an accelerated pace in the development of the GBA in terms of innovative financial regulations

SFC May Have Doubts About Allowing SPAC Listings – Report

The SPACs frenzy has prompted exchanges in Singapore and Indonesia to also explore the possibility of allowing SPAC listings in their markets.

Ten things Institutional Investors need to know about investing in Hedge Funds

What should investors consider when making Hedge Fund investments?

Ogier in Hong Kong advises on US$1.1 billion loan for take-private of China Biologic

The Ogier team was led by banking partner David Nelson with support from associate Sara Law.

Monetary Authority of Singapore invites applications for green fintech accelerator

All FinTech firms and solution providers are encouraged to submit their applications for the MAS Global FinTech Hackcelerator here by 11 June 2021.

Legal, Regulation & Compliance