Payments & Settlements

BSP Consults on Draft Policies to Strengthen Payment Systems

03/01/2021

The first draft policy covers governance policies for payment system operators. The second covers the local adoption of the PFMI for designated payment systems.

Trading & Investment

S. Korea Selects Market Makers for Won-Yuan Direct Market

03/01/2021

The selected banks will play a leading role in price formation and in supplying liquidity to the KRW/RMB direct trading market.

Emerging Prudential Risks

BOJ Expands Merger Incentives to Include Community Lenders

03/01/2021

The BOJ will pay an additional 0.1% interest to smaller lenders that decide to merge, integrate their businesses, or meet overhead reduction targets.

Structural Regulation

Daiwa Securities Joint Venture Granted Beijing Business Licence

03/01/2021

The business licence makes Daiwa Securities (China) Co Ltd the fourth foreign-owned joint venture securities firm in Beijing.

Structural Regulation

China, EU Leaders Agree Bilateral Investment Treaty

03/01/2021

China will open multiple industries to EU businesses, removing joint-venture requirements, equity caps and forced technology transfers.

PEPs & Sanctions

OFAC Extends Chinese Military Company Ban to Subsidiaries

03/01/2021

In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.

Anti-Money Laundering

Japan Regulators Order Crypto Exchange to Improve AML Systems

02/01/2021

Avacus Co Ltd must build an AML/CTF risk management system that ensures transactions are confirmed and recorded at the time of transaction.

Capital Adequacy

Taiwan FSC Designates First Commercial Bank as Sixth D-SIB

02/01/2021

In June 2019, the FSC designated CTBC Bank, Cathay United Bank, Taipei Fubon Bank, Mega International Commercial Bank and Taiwan Cooperative Bank as D-SIBs.

Market Abuse

China: Revised Criminal Law Raises Penalties for Capital Market Offences

02/01/2021

The amendments focus on fraudulent issuance, information disclosure falsification, provision of false certification documents by intermediaries, and market manipulation.