Managers of Wealth Asia Pacific

"The Future of Capital is Green" - Keynote Address by Mr Ravi Menon

“These asset managers will be valuable partners to MAS and the investor community in the sustainability journey.”

PwC Offers ESG Risk Management Recommendations for Banks

The PwC report outlines the typical challenges banks face as they prepare for implementation of the guidelines by June 2022.

China strengthens national security review of foreign investments

The Measures also extend to a foreign investor’s purchase of a domestic company’s shares listed on stock exchanges.

APRA agrees to court enforceable undertaking from Allianz Australia

Allianz’s weaknesses in its risk culture, risk governance, and risk management are longstanding.

Court finds that TAL Life Limited breached its duty of utmost good faith – Royal Commission referral

ASIC alleged that TAL avoided the policy without first giving notice to the consumer of a retrospective investigation into her medical history or offering her an opportunity to address the concerns raised before rejecting her claim.

APRA urges life insurers and superannuation funds to address sustainability of insurance in superannuation

APRA is concerned that, if the observed trends and practices continue, members are likely to be adversely affected by further substantial increases in insurance premiums and/or reductions in the value and quality of life insurance offered through superann

FSC Korea Issues New Rules for Non-holding Financial Groups

The new legislation, approved by the government in August and passed in the National Assembly in December, defines non-holding financial groups as those with total assets of at least KRW 5 trillion or with two or more subsidiaries operating financial busi

Hong Kong faces delay to plans to attract more family offices

The city is vying with Singapore to become the family office hub in the region, but experts believe it will take time to amend important tax incentives to support this aspiration.

BOJ Governor Says Climate Change Should Guide Monetary Policy

Kuroda also said it was possible for the BOJ to buy green bonds, as long as they met the set requirements of an existing corporate bond-buying programme.

NSW Court of Criminal Appeal decides former TZ Limited director’s appeal against conviction and sentence

As a result of the Court’s decision, his term of imprisonment and non-parole period have been reduced by six months and three months respectively.

HKEX Sets Launch Date for Phase Two VCM Enhancements

As proposed in August 2019 and finalised in December 2019, the second phase enhancement will allow multiple triggers of the VCM per applicable security in the same trading session.

CCB Group Enjoys Strong MObile, Online Banking Growth Driven By Fintech

CCB Malaysia chief executive officer Felix Feng Qi, who is also CCB Labuan principal officer, said since 2019, the group had emphasised the importance of technology transformation.

DBS Cuts CEO Payout

According to Gupta, 2020 was an «inflection point» from three key perspectives that will have future implications for the bank: accelerated digital adoption, work transformation and sustainability.

ASIC commences civil penalty proceedings against Statewide Superannuation for misleading or deceptive correspondence

ASIC also alleges Statewide failed in its breach reporting obligation to report these breaches to ASIC within 10 business days.

Thailand mulls higher government contributions to NSF, raising age limit, report says

The government matches 50% of contributions by those aged between 15 and 30 years, capped at 600 baht a year, and 80% by those in the 31-50 age bracket, up to a maximum 960 baht.

HKMA Extends Principal Payment Holiday Scheme Again

Banks can consider on a case-by-case basis whether other forms of relief are more suitable to help these customers ride out their current difficulties, subject to prudent risk management principles, the HKMA said.

Tokyo Exchange Obtains ESMA Recognition Under BMR

The TSE has said in a statement that it has received recognition for its benchmarks and that these have now been entered into ESMA’s public register.

Former NSW financial adviser charged with dishonest conduct and fabricating evidence

Mr Nesseim previously ran the financial services business Smart Financial Strategies.

APRA releases general insurance statistics for December 2020

Industry reported a net profit after tax of $35 million and return on net assets of 0.1 per cent during the year ended 31 December 2020.

Hong Kong police, stock regulator freeze HK$900 million, arrest 12 in joint crackdown on ‘ramp and dump’ investment scam

The first-ever joint operation saw 27 locations raided by more than 160 law enforcers and staff from the Securities and Futures Commission

Legal, Regulation & Compliance