Managers of Wealth Asia Pacific

Regulators Order Ant Group to Establish Financial Holding Company

Ant Group will also have to become a financial holding company, accept greater regulatory supervision and improve its corporate governance.

China's antitrust regulator bulking up as crackdown on behemoths widens

The fine underscores the challenges ahead for companies, including global firms with operations in China, mainly in a tech sector that thrived during years of relatively laissez-faire market regulation.

Singapore firm in talks with LGUs, PPP Center for projects

Infrastructure Asia, a project facilitation office under the Singapore government, aims to tap into the capabilities of its private partners to meet the region’s infrastructure needs.

Why advisers aren't reporting FASEA exam results

A spokesperson for ASIC said the reason this information was not publicly available on the FAR was because it was not required under the Corporations Act.

MAS to issue SGS Infrastructure bonds

Singapore’s government under SINGA will be able to borrow up to S$90bn to spend on major infrastructure projects that will last for at least 50 years.

Singapore consults on SPACs listing framework

With a growing number of family offices establishing a presence in Singapore and, along with them, the onshoring of their assets in Singapore, SPACs in Singapore may offer these family offices the high-growth

Snapshot: arbitration in the British Virgin Islands for Asia-based parties

Asian companies, investors, and high net worth individuals have been among the most frequent users of the BVI Courts and BVI legal practitioners for many years.

ASIC warns time is fast running out for insurance claims handling AFS licence applications

A complete application accepted by 30 June 2021 can proceed to assessment and a decision can then be made whether to grant or vary an AFS licence.

ASIC commences proceedings against Westpac for alleged misleading and unfair sales of consumer credit insurance

ASIC is seeking declarations and pecuniary penalties from the Federal Court.

Hong Kong's banking sector worth over HKD 370 billion

The market is huge, and currently dominated by four major players – HSBC, Bank of China (Hong Kong), Standard Chartered and Hang Seng.

ASIC’s expectations about new internal dispute resolution requirements

There are significant legal issues to be addressed in ensuring that trustees meet the RG 271 obligations.

Premature Withdrawal of Support May Threaten Financial Stability: FSB

The FSB has concurrently released a report on these factors, noting that early withdrawal of support measures before the macroeconomic outlook has stabilised could be associated with significant immediate risks to financial stability.

An Asynchronous and Divergent Recovery May Put Financial Stability at Risk

The economic trauma would have been much worse if the global economy had not been supported by the unprecedented policy actions

Hong Kong to Allow Companies to Conceal Director Identities

The new law also would limit the reasons for granting access, with no option for researchers or journalists planned.

Thailand, Vietnam Launch Cross-Border QR Code Link

The two central banks said Thai tourists using Bangkok Bank’s mobile banking app can scan ‘Viet QR Codes’ to pay for goods and services at merchants of Vietnam’s TP Bank and BIDV.

CEOs of Singapore’s Big Three banks took 9%-24% pay cut in 2020

The value of remuneration shares was estimated based on OCBC’s closing price of $11.73 per share on March 12, 2021.

Japan's central bank kicks off experiments on issuing digital currency

Global central banks are looking at developing digital currencies to modernise their financial systems, ward off the threat from cryptocurrencies and speed up domestic and international payments.

The hunt for lost billions: Failed Hin Leong's owners face asset claims

At a hearing on Monday (April 5), court-appointed liquidators will ask the Singapore High Court to freeze the family's assets worldwide

Korea Finalises Supervisory Framework for Financial Conglomerates

Such groups have been seen as a regulatory blind spot as are not subject to supervision through the Financial Holding Companies Act, yet their significance to the financial system has only grown over time.

Sawari Ventures raises US$71M for investing in Egyptian startups

The fund has increased its investment in high-growth Egypt companies to $68 million.

Legal, Regulation & Compliance