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Market Updates and Analysis

Indian mutual fund distibutors to self-regulate

The Indian markets regulator, SEBI, has invited applications from entities interested in setting up a self regulatory organization (SRO) for mutual funds distributors.

India launches colour codes for mutual funds

The Indian regulator, SEBI, has asked asset management companies to include product labels on all mutual funds indicating the risk/return levels. The label will include colour codes for risk.

DBS names Su Shan Tan as head of consumer banking

DBS has promoted Su Shan Tan, currently head of wealth management at the bank, to the role of group head of consumer banking / wealth management as of 15 April.

New electronic trading regulation in Hong Kong in 2014

Hong Kong's Securities and Futures Commission (SFC) has published conclusions on its proposals to enhance the regulatory framework for electronic trading - with a new regime to come into effect on 1 January 2014.

Taiwan becomes 4th largest RMB offshore centre

Taiwan now stands as the fourth-largest RMB offshore centre, out of 136 countries exchanging RMB payments, according to SWIFT's latest RMB Tracker.

Hong Kong relationship manager receives two-year ban for misconduct

Hong Kong's securities regulator has banned relationship manager Selina Tsang Siu Kam from re-entering the industry for two years.

New emerging market index launches with ESG screening

Northern Trust, in conjunction with MSCI ESG Research and Institutional Shareholder Services, has launched the first emerging markets custom index and fund with Environmental, Social, and Governance (ESG) screens.

Henley Group launches new FAIR-related index

International advisory firm The Henley Group has created the Henley Fair Index in response to the Monetary Authority of Singapore's (MAS') Financial Advisory Industry Review (FAIR).

Hong Kong SFC disqualifies former senior executives of Sunlink

Hong Kongs securities watchdog has obtained orders in the High Court to disqualify Andy Wong Shu Wing, former chairman and executive director of Sunlink International Holdings, and Lee Chak To, former financial controller and company secretary.

Legacy IT systems detrimental to profitability, finds survey

Investment management companies running on legacy IT systems must increase operations budgets to become more competitive and profitable, according to a new report by SimCorp StrategyLab.

ABN AMRO Private Banking tips equities, underweight bonds

ABN AMRO Private Banking said it plans to build on its previous overweight equities position, while it expects gold to continue to decline. It also foresees the US dollar strengthening.

Pacific Sun Advisors acquitted of issuing adverts in Hong Kong

Pacific Sun Advisors Limited and its director Andrew Pieter Mantel have been acquitted for issuing advertisements to promote promoting a collective investment scheme in Hong Kong

Hong Kong regulator issues restriction notice to securities firm

Hong Kong's securities regulator has issued a Restriction Notice to trading firm Salisbury Securities, barring it from carrying out certain regulated activities and from dealing with client assets.

CFA Institute pushes a more trustworthy financial industry

The CFA Institute, along with several prominent financial industry leaders, has launched its "Future of Finance" project, a long-term global effort to shape a trustworthy, forward-thinking financial industry.

HSBC Private Bank appoints new Hong Kong head

HSBC has appointed Teddy Kwong as business head, Hong Kong, within its global private banking business.

ABN AMRO Private Banking hires new North Asia chief

ABN AMRO Private Banking has hired Ian Pollock as head of its North Asian business.

Deutsche Bank private wealth COO in Asia to leave in mid-2013

Christian Camenzind, chief operating officer, wealth management for Asia Pacific at Deutsche Bank, will leave the firm around the middle of this year.

Hong Kong to raise standards in private wealth management

To ensure that Hong Kong is well-equipped to ride on the opportunity from the growing wealth in the region, several industry groups have released a “High Level Proposal of an Enhanced Competency Framework for Private Wealth Management Practitioners in Hong Kong”.

Hong Kong regulator bans another ex-Morgan Stanley employee

Hong Kong’s Securities and Futures Commission (SFC) has banned Calvin Ho Kei Him, a former research associate at Morgan Stanley Asia Limited from re-entering the industry between 12 March 2013 and 11 May 2014.

Time of change for Asian family businesses, says Coutts report

According to a new report by Coutts, many family businesses in Hong Kong and China are facing a number of challenges, and need to undergo significant change, as ownership and managerial responsibilities are passed on to either the next generation or to non-family members.

BNP Paribas drives Asian investment in European property

BNP Paribas Real Estate has launched two Asian platforms in Hong Kong and Singapore with the aim of attracting Asian investment into the European property markets.

DST Global Solutions launches real-time alert technology

Technology and data management solutions provider DST Global Solutions has introduced an “Intelligent Alerts” concept as part of their Anova data management solution.

Manulife hones in on branding and product strategy

Manulife Financial has appointed Philip Hampden-Smith as executive vice president and chief marketing officer for Asia.

India makes certification mandatory for compliance officers

The Indian market regulator (SEBI) has made it compulsory for compliance officers of market intermediaries such as brokers and credit rating agencies to get requisite certifications to operate in the stock markets, according to new guidelines.

MAS issues consultation on FAIR recommendations

The Monetary Authority of Singapore (MAS) has released a consultation paper on the recommendations of the Financial Advisory Industry Review (FAIR), which were issued in mid-January.

Hong Kong fines Manulife for poor KYC, profiling practices

Hong Kong’s Securities and Futures Commission (SFC) has issued a reprimand to Manulife Asset Management, and fined it HK$24 million (US$3.1 million) for inadequate internal controls in relation to the distribution of Manulife Global Fund between 2007 and 2012.

Social channels outpace bank marketing, says survey

According to around 3,500 high net worth individuals globally, digital channels play a significant part in the process of selecting an adviser.

Asia home to the highest number of billionaires, says Hurun

The Hurun Global Rich List 2013, a ranking of the 1,453 individuals with personal wealth of US$1 billion or more as of mid-January, has shown that Asia is home to the highest number of billionaires.

Hong Kong watchdog clamps down, issues penalties

The Hong Kong Securities and Futures Commission (SFC) has banned Du Jun, former managing director of Morgan Stanley Asia, from re-entering the industry for life.

Schroders launches multi-asset income fund in Hong Kong

Schroders Hong Kong has announced the launch of the Schroder International Selection Fund (ISF) Global Multi-Asset Income.



 

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