Managers of Wealth Asia Pacific

Former managing director Holly Grofski charged

The alleged offending occurred in November 2019.

Renewal of Bilateral Swap Arrangement between Japan and Singapore

Both authorities agree that the continued bilateral financial cooperation will contribute to financial stability in both countries, and support growing bilateral economic and trade ties.

India: PAN requirement relaxed for capital gains exemption for eligible nonresidents

Corresponding amendments also have been made to Form 49BA for providing the above additional information.

DBS Can Fund $2 Billion Bid for Citi India Unit, Bernstein Says

Citi acquisition seen hitting bank’s 2021 dividend payout

REX pays $66,000 penalty for alleged continuous disclosure breach

ASIC found there are reasonable grounds to believe that REX was in breach of its continuous disclosure obligations

HKMA Instructs Banks to Assess Need for Tertiary Data Backup

The HKMA points to international developments to address this type of cyber threat, including Sheltered Harbor, a US initiative.

Mauritius & China’s Free Trade Agreement – China’s First Free Trade Agreement with an African Country

The Agreement is beneficial for both countries and will further enhance economic and trade relations between Mauritius and China.

Singapore Taskforce Issues Climate Disclosure Guide for FIs

The guide will help to enhance the quality of FIs’ climate disclosures, and facilitate more consistent and comparable disclosures across FIs, MAS said.

China bans financial, payment institutions from cryptocurrency business

China has banned crypto exchanges and initial coin offerings but has not barred individuals from holding cryptocurrencies.

ASIC issues civil penalty action against company formerly called Equiti Financial Services

Each advice contained a recommendation to establish an SMSF, purchase a property through the SMSF and borrow funds in order to do so.

Global life insurer admits it helped US citizens hide $1.45bn

Swiss Life Holding AG, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A. Enter into Deferred Prosecution Agreement for Criminal Misconduct; Agree to Collectively Pay More than $77 Million

Former CFO sentenced for market manipulation and fraud offences

Mr Wu was also sentenced to a Community Corrections Order for a period of two years and six months after pleading guilty to fraud offences.

Macquarie Securities pays $126,000 infringement notice

MSAL were engaged by an ASX-listed company to act as the broker to conduct, on behalf of the company, an on-market buy-back

APRA releases quarterly private health insurance statistics for March 2021

The publications provide industry aggregate summaries of key financial

Restructuring culture needs to change – Hong Kong Court leads the way

The case echoes the recent “scanty in the extreme” restructuring proposal in Lamtex Holdings Limited where a similarly hopeless restructuring proposal led to the application for recognition being flatly refused.

Monetary Authority Announces Countercyclical Capital Buffer Ratio for Hong Kong

“While there have been some initial signs of economic recovery in Hong Kong, we are still in the midst of high uncertainty given the fluid pandemic situation globally.

HKEX Clears First SOFR-HONIA Cross Currency Swaps

HONIA is the alternative reference rate to HIBOR, while SOFR is increasingly being used as the new benchmark in the global derivatives market to replace LIBOR.

Is Asia Ready for the End of LIBOR?

Those who think that doing nothing is an option, or that the pandemic has delayed the need to prepare for the new rates, are making a mistake that could leave them unprepared further down the line.

Conyers Named Best Offshore Law Firm Once Again by China Business Law Journal

Conyers has a wealth of experience in the education sector. In the past five years, the firm has advised over 10 educational institutions on their IPOs and on a number of mergers.

Harneys wins Best Offshore Law Firm among five 2021 China Business Law Awards

The China Business Law Journal Awards are presented annually and are based on hundreds of nominations from in-house counsel, corporate executives and legal professionals, in addition to research conducted by its editorial team.

Legal, Regulation & Compliance