Anti-Bribery & Corruption

Ex-ICBC Shanghai Boss Pleads Guilty to Bribery

08/07/2020

Prosecutors said Gu Guoming took advantage of his position to help others obtain loans and project contracts, and illegally received bribes worth over 136 million yuan.

PEPs & Sanctions

UK Imposes First Sanctions Over Human Rights Abuses

07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

Trading & Investment

Malaysia to Promote Greater Capital Market Innovation

07/07/2020

The SC will invite innovative stockbroking models such as digital-only brokers and algo trading platforms. Bursa’s trading and clearing memberships will be separated.

Structural Regulation

SEBI Finalises Amendments to Investment Adviser Rules

07/07/2020

The final rules increase the net worth, qualification and experience requirements for investment advisers and introduce client-level segregation of advice and distribution activities.

Fraud, Scams & Cybercrime

FSS Korea Considers Legal Action Against HK Hedge Fund

07/07/2020

Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.

Anti-Money Laundering

S. Korea Uses AI, Big Data Analytics to Detect Tax Evasion

07/07/2020

A new AI-based big data analytics system will be used by the National Tax Service to detect cases of tax evasion using borrowed-name accounts.

Data Privacy

China Progresses Development of Data Security Law

07/07/2020

The draft law says the government will protect the rights of individuals and organisations over the use of their data.

Credit Risk

China Issues Final Rules on Handling Corporate Bond Defaults

07/07/2020

The final rules establish trustee managers, bondholder meetings and intermediaries as investor safeguards in the disposal of defaulted corporate bonds.

Credit Risk

CBIRC to Grade Banks on SME Credit Provisioning

07/07/2020

The first evaluation of how effectively banks are providing financial services to SMEs will cover 2019, and be completed by 31 October 2020.