A Singapore district judge rejected an application tied to DW Capital, a Singapore-based family office linked to alleged scam kingpin Chen Zhi, to release funds frozen amid a money-laundering probe. Court documents said the Singapore family office sought to release funds for salaries, taxes and future costs. District Judge Kok Shu-en questioned the applicant’s credibility and ruled that preserving the assets best served the interests of justice as investigations into the Sing

Japan plans to establish by year-end a cross-ministerial body modelled on the US foreign investment watchdog CFIUS, strengthening Japan foreign investment screening to address national security risks linked to inbound capital, the government said. A bill to revise the foreign exchange law will be submitted when parliament’s ordinary session opens on Jan. 23, enabling the framework’s creation, officials said. The finance ministry will seek to double staff involved in Japan for

Hong Kong financial regulation reputation will be a key draw for global investors as the city navigates uncertainty and shifting asset allocations, Financial Services and the Treasury Secretary Christopher Hui Ching-yu said. Hui said Hong Kong must upgrade infrastructure and develop new growth engines to keep investors relying on the city across market cycles. He said the government will trial a central clearing system for gold in 2026, seek cooperation with Shanghai to boost

HKMA fintech plan priorities include expanding artificial intelligence adoption and accelerating fintech development through cooperation with Hong Kong’s other financial regulators, Chief Executive Eddie Yue Wai-man said. Under the five-year Fintech 2030 strategy, the Hong Kong Monetary Authority will widen its generative AI sandbox beyond banking to other industries, aiming to improve risk management, fraud detection and customer experience. Yue said the HKMA is in discussio

China banks Venezuela exposure is under closer scrutiny after the country’s financial regulator asked policy banks and major lenders to disclose lending ties and strengthen monitoring of Venezuela-related credit, Bloomberg reported. The National Financial Regulatory Administration move follows the US capture of Venezuelan President Nicolás Maduro and reflects concern that geopolitical risks could spill into China’s banking system. China has extended billions of dollars to Ven

Malaysia SemakMule scam firms list has expanded after police added 10 more companies linked to scams to the Commercial Crime Investigation Department database, following numerous reports lodged within a month to Dec 31, Bukit Aman CCID director Datuk Rusdi Mohd Isa said. The firms named include CVC Grow Star Sdn Bhd, CVC Group Sdn Bhd, JMC M Trading Venture, JMC Asia Top Solution, KGI HK Sdn Bhd, Greenvale Trading Sdn Bhd, Titan Union Trading Sdn Bhd, Brightglobal Sdn Bhd, RX

Philippine sukuk rules proposed by the Securities and Exchange Commission (SEC) could help deepen the capital market and attract domestic and foreign investors, RCBC chief economist Michael Ricafort said. A second exposure draft released in November sets issuance and disclosure standards focused on Shari’ah compliance, transparency and investor protection. Under the Philippine sukuk rules, publicly offered sukuk would require SEC registration and could be listed, traded and s

South Korea business law overhaul plans will scrap prison terms for most non-malicious corporate violations and significantly raise fines for serious misconduct, under reforms covering 331 economic statutes, the government said. The South Korea business law overhaul shifts enforcement away from a punishment-first model toward corrective orders and financial sanctions to speed up resolution. Under proposed changes, the Fair Trade Act’s cap on fixed fines for abuse of market do

Philippines tax audit reform is drawing support from business groups after the Federation of Filipino-Chinese Chambers of Commerce and Industry endorsed moves to tighten Bureau of Internal Revenue audit controls. The Philippines tax audit reform includes limiting which BIR offices can issue Letters of Authority and building a central digital platform to verify their authenticity, following a November suspension of field audits. FFCCCII president Victor Lim said the changes se

Hong Kong family office tax reforms are expected to spur new fund launches and attract additional single-family offices once legislation takes effect next year, analysts said. Single-family offices are projected to rise from about 2,900 this year to as many as 3,500 by 2028. The government is widening eligible vehicles for incentives, including pension and endowment funds, and removing rules that treated bond interest as incidental income that could jeopardise exemptions. Ken

Singapore SFO tax incentive reforms are likely to move ahead as the Monetary Authority of Singapore seeks to keep the city competitive as a global wealth hub despite heightened scrutiny, industry observers said. Singapore has strengthened its reputation through swift and transparent handling of a SGD3bn (USD2.2bn) money-laundering case in 2023 and scrutiny linked to Cambodia’s Prince Group, reinforcing confidence in governance standards. MAS has proposed streamlining document

South Korea corporate reform is entering what the Korea Enterprises Federation chairman Sohn Kyung-shik described as a “golden time” for economic transformation, as he urged policymakers to push structural changes to revive innovation and risk-taking. In a New Year address, Sohn called for easing rigid labour regulations, arguing that inflexible rules undermine productivity and slow adaptation to industrial change. He said labour-market reform could also help address debates

Thailand virtual banks 2026 are expected to begin operations by mid-year, with three approved consortiums preparing to roll out services by June 2026, and potentially earlier if ready, a Bank of Thailand assistant governor said. The central bank requires successful applicants to start business within one year of finance ministry approval granted on June 19, 2025. The winning groups include ACM Holding and Ascend Money’s TrueMoney backed by CP Group; a Krungthai Bank-led conso

China shadow banking scandal concerns have escalated after police in Zhejiang detained Yu Faxiang, chairman and chief executive of Hong Kong-listed Haichang Ocean Park Holdings, as authorities probe alleged wrongdoing tied to delayed repayments on multibillion-yuan wealth management products issued by Sunriver Holding Group, a firm he controls. Haichang said it was informed by Yu’s family that police had imposed criminal compulsory measures and opened an investigation, adding

South Korea economic security reforms are set to accelerate as the Ministry of Trade, Industry and Resources undertakes its biggest reorganisation in 12 years, creating a new Industry Resources Security Office to act as a control tower for supply-chain and trade security. The Cabinet-approved plan adds one office-level unit, a director-level post, four divisions and 36 staff, the ministry said. South Korea economic security initiatives will also include appointing an industr

Indonesia tax audits of wealthy families are intensifying as the government seeks additional revenue with the budget deficit outlook moving closer to the legal cap of 3% of GDP, according to people familiar with the matter. Officials have stepped up reviews of high-wealth taxpayers, including summoning individuals to discuss returns, while several tycoon-run firms have been asked to make extra payments. In some cases, Indonesia tax audits of wealthy families have involved req

South Korea financial consumer protection is set to be strengthened as the Financial Supervisory Service plans organisational changes, including creating a new division reporting directly to the governor. The regulator said the existing consumer protection office will be upgraded with broader supervisory powers over product design, approval and sales practices across financial sectors, reinforcing South Korea financial consumer protection standards. The FSS will also establis

Malaysia family offices have received conditional approval to establish operations in the Forest City Special Financial Zone in Johor, with six single-family offices expected to bring about MYR400m (USD84.6m) in assets, according to an October briefing by the Securities Commission. The regulator said it has logged more than 30 expressions of interest for the zone’s zero-tax scheme, part of a broader effort to revive Forest City, a stalled four-island development launched in 2

Hong Kong-domiciled funds saw assets under management rise 36% year-on-year to HKD2.27tr (USD29bn) in the third quarter, highlighting the city’s resilience and deeper integration with global markets, according to the Securities and Futures Commission. The number of locally domiciled funds increased 7.8% to 1,022 as of September, with net inflows of HKD46.9bn during the quarter. SFC chief executive Julia Leung Fung-yee said Hong Kong’s markets showed steady and diversified gro

The Philippines has moved closer to reforming its bank secrecy regime after lawmakers approved on second reading amendments to the Philippines bank secrecy law granting the Bangko Sentral ng Pilipinas broader investigative powers. House Bill No.6707 would allow the central bank to examine bank deposits of officers and employees suspected of fraud, tax evasion, money laundering or other financial crimes once the Monetary Board determines reasonable grounds. The bill also exten