Managers of Wealth Asia Pacific

ASIC commences proceedings against credit licensee over failure to comply with AFCA determination

ASIC alleges Lightspeed failed to give effect to both AFCA determinations and that Mr Fitzpatrick was knowingly involved in these breaches.

RBNZ Establishes Standalone Enforcement Department

The bank plays an important role in ensuring financial institutions remain sound and operate with appropriate conduct and culture, and we have a low-risk appetite for events that materially damage the financial system.

FSB Issues Guidance on Implementing SFT Data Standards

The FSB published policy recommendations to address financial stability risks in SFTs in August 2013.

New Zealand introduces climate change law for financial firms in world first

This law will bring climate risks and resilience into the heart of financial and business decision making.

MAS Imposes Composition Penalty of S$1 million on Bank J. Safra Sarasin

The penalty amount took into consideration BJS’s remediation actions to address deficiencies that were identified by MAS.

How four adviser breaches could escalate to 198

“We believe that the impact is much greater than was appreciated when the bill was drafted, and we have therefore recommended that the Government consider a deferral of the commencement of this new regime,”

ASIC extends temporary financial advice relief measure in COVID-19 instrument

ASIC decided to extend the relief measure after consulting with industry and identifying that some financial advice practices have found this measure helpful.

EMPEA Inaugurates New Asia Headquarters in Singapore

Asia continues to gain prominence as a global financial center and international destination for private capital investment.

Time to revisit China sovereigns and policy bank bonds

Investment Insights by our experts and thought leaders

Banks Have Insufficient Incentives to Use Buffers: IMF

The key message from the analysis is that most banks have insufficient economic incentives to draw down their buffers if they are asked to rebuild them later.

Japan Consults on Climate Transition Finance Guidelines

The FSA proposed that the climate transition finance for Japan also include these disclosures.

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.

Legal, Regulation & Compliance