Asia
Australia moves to regulate IFA commissions
The Australian government has introduced new legislation to regulate commission payments made by life insurance companies to financial advisers.
Three bidding for Barclays Asia private wealth business
Singapore’s DBS Group and Oversea-Chinese Banking Corp (OCBC), and Swiss-headquartered Julius Baer have reportedly submitted non-binding bids for Barclay’s Asian private wealth business, reports Reuters.
Two Brits rapped as Thai SEC steps up operations
In separate incidents, Thailand’s Securities and Exchange Committee (SEC) has filed criminal complaints against two British nationals accused of operating securities businesses without a licence.
Indonesian tax amnesty a boost for wealth management sector
Indonesia is to offer generous incentives for tax evaders to regularise their finances, a move that has been welcomed by the country’s wealth managers, reports Reuters.
Hong Kong to allow high risk ETFs under tight controls
Hong Kong’s main securities regulator has announced plans to allow a limited range of leveraged and inverse products, which are effectively higher risk exchange traded funds (ETFs), to be sold to the public.