Controlling client advisers is a greater source of debate and concern than ever before as private banks continue to struggle with the complex and uncertain regulatory and compliance landscape which is the new reality in Asian wealth management.

William Ahern of Family Capital Conservation looks at developments in Hong Kong to enhance the anti-money laundering regime for providers of wealth planning services.

The harsh and far-reaching reality of the US Foreign Account Tax Compliance Act (FATCA) has finally begun to dawn on many financial institutions in Asia – with only a little more than six months to go before the main regulations take effect.

Below is a snapshot of some of the key local and international regulatory and compliance developments in November 2011 relevant to the Asian wealth management industry.

Below is a snapshot of some of the key local and international regulatory and compliance developments in August 2011 which are relevant to the Asian wealth management industry.

The Hong Kong Monetary Authority has issued a circular to authorised institutions setting out detailed guidance on remuneration disclosure.

The Singapore regulator plans to tighten its regime on anti-money laundering and counter financing of terrorism, to ensure that those people and organisations who jeopardise the financial centre’s hard-earned reputation for integrity face severe consequences.

Below is a snapshot of some of the key local and international regulatory and compliance developments in July 2012 relevant to the Asian wealth management industry.

Below is a snapshot of some of the key local and international regulatory and compliance developments in January 2013 relevant to the Asian wealth management industry.

Mark Jansen of PricewaterhouseCoopers explains the main details and implications for both financial institutions and customers of the Foreign Account Tax Compliance Act (FATCA) enacted in the US.

Below is a snapshot of some of the key local and international regulatory and compliance developments in August 2012 relevant to the Asian wealth management industry.

In response to a request from the US Internal Revenue Service, Credit Suisse has confirmed it revealed some of its US clients’ names to the local tax authorities, according to news reports.

China’s banking regulator has released a new rule to regulate commercial banks’ wealth management business, in relation to risk management and the sales process.

Below is a snapshot of some of the key local and international regulatory and compliance developments in October 2011 relevant to the Asian wealth management industry.

A team of analysts, tax experts and investigators has come together at the UK’s HM Revenue & Customs as a new unit to crack down on offshore tax cheats.

How to control client advisers is a greater source of debate and concern than ever before as private banks continue to struggle with the complex and uncertain regulatory and compliance landscape which is the new reality in Asian wealth management.

According to a report by Reuters, the Swiss government has proposed a multi-billion dollar settlement with US authorities over allegations that it helped wealthy Americans avoid US taxes.

Brendan Harper of Friends Provident International explains recent developments in tax agreements between Hong Kong and the UK, and looks at the implications for individuals.

UBS’ former UK head of wealth management has challenged the ability of the country’s watchdog to punish senior executives for insufficient supervision, according to a news report.

According to local news sources, the Indian government has appointed 12 teams to probe undisclosed offshore accounts allegedly held by almost 700 Indian citizens in the Swiss arm of HSBC.

As much as CHF47 billion – about 2.3% of total offshore assets under management in Switzerland – might be lost before the implementation of Switzerland’s new withholding tax agreements with Germany and the UK, due to withdrawals and tax payments, according to a new study.

Hong Kong’s Securities and Futures Commission (SFC) is focused on ensuring the quality – not quantity – of its rules and regulations, and in turn enhancing the market for all participants, according to Mark Steward, executive director of enforcement.

Edmund Leow of Baker & McKenzie.Wong & Leow explains some of the main implications of recent moves towards governments sharing more tax information about wealthy individuals.

Below is a snapshot of some of the key local and international regulatory and compliance developments in September 2011 relevant to the Asian wealth management industry.

Inong Malinda Dee, a former relationship manager at Citibank’s Indonesia unit, was formally indicted at the South Jakarta District Court in early November, charged with two counts of banking crimes and one count of money laundering.

News reports have said that Britain has severed all ties with Iranian banks as part of a package of sanctions from the US, UK and Canada aimed at confronting Tehran's nuclear programme.

Mark Jansen of PricewaterhouseCoopers looks at the issues for financial institutions – and customers – of the Foreign Account Tax Compliance Act (FATCA), and considers what preparation is necessary now.

China’s State Administration of Foreign Exchange recently released a notice launching two types of foreign exchange risk-reversal put and call options as of 1 December 2011.

More than a year after India and Switzerland signed a revised Double Tax Avoidance Agreement, the Indian finance ministry said it has started receiving banking and tax-related information from Switzerland.