Asia
Singapore to overtake London as second largest offshore hub
Singapore is expected to overtake London as the world’s second largest offshore financial centre by 2020, a new report suggests.
Australian regulator moves to enforce ‘client first’ rule
The Australian corporate regulator has decided to prosecute a financial advisory business for alleged breaches of a new law which requires firms to ensure their advisers put the interests of clients first.
Great Eastern sells Vietnam business to FWD Group
FWD Group, the insurance arm of Asia-based Pacific Century Group, has secured regulatory approval to buy Great Eastern Life’s Vietnamese business for S$48.2bn (£24.5bn, $35.6bn, €32.3bn).
Advice firms in Hong Kong come to terms with new rules
Independent financial advisers in Hong Kong have spent much of May coming to terms with further substantial changes to the region’s previously light touch regulatory regime.
Fitch sees surge in China’s fund market
China is the fastest-growing mutual fund market globally, with mutual-fund assets that nearly quadrupled over the last four years, the ratings firm said.