Structural Regulation

CSRC Approves Establishment of Guangzhou Futures Exchange

24/01/2021

The new exchange is part of a policy blueprint released by mainland authorities last year to facilitate the development of the Greater Bay Area.

Anti-Money Laundering

BSP Highlights AML Risks of Cash, Cross-Border Payments

24/01/2021

Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.

Market Abuse

CSRC Revises Rules for Banning Access to Securities Market

24/01/2021

The draft rules will allow regulators to restrict an individual or entity from trading in all securities and securities investment funds nationwide for up to 5 years.

Capital Adequacy

CBSL Orders Banks to Delay Dividends, Halt Share Buybacks

24/01/2021

Foreign banks are also instructed to defer repatriation of profits not already declared for 2019 and 2020 until their financial statements for 2020 are finalised and audited.

Trading & Investment

Stock Connect to Include STAR Market Stocks from 1 February

24/01/2021

The corresponding H-shares will also be included in Southbound trading of Stock Connect, in addition to H-shares with corresponding A-shares listed in Shenzhen.

Fraud, Scams & Cybercrime

Hong Kong ICAC Charges Another in DBS L/C Fraud Case

23/01/2021

The construction company director conspired with other individuals to defraud DBS into issuing $75.3mn in L/Cs that had no genuine underlying transactions.

Tokenisation

SGX, Temasek Partner on Digital Asset Infrastructure in Capital Markets

23/01/2021

A new JV will use blockchain-based technologies to provide an issuance-to-settlement network for Asia bonds, funds and sustainable finance products.

PEPs & Sanctions

China Sanctions 28 Trump Officials as Biden Takes Office

21/01/2021

The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.

Trading & Investment

NAFMII Punishes Bond Underwriters Over SOE Default

21/01/2021

The three banks failed to conduct proper due diligence and verify cash that appeared to be abnormally restricted when underwriting Yongcheng Coal’s bonds.