KYC & CDD

S. Korea Approves Use of Biometrics for Digital Identification

06/07/2020

Korea’s Fair Trade Commission has revised bank transaction law to allow the use of biometrics for identification in bank teller transactions.

Capital Adequacy

BCBS Releases 18th Progress Report on Basel III Adoption

06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

PEPs & Sanctions

New Bill Could Ban Some Chinese Firms from US Capital Markets

06/07/2020

The bill would reportedly seek to ban Chinese companies that engage in spying or human rights abuse, or support China’s military or industrial policy.

Trading & Investment

Shanghai Bourse Issues Draft Rules on ‘Targeted’ Convertible Bonds

06/07/2020

Targeted convertible bonds to be used to support mergers, acquisitions, reorganisation, restructuring, or refinancing of listed companies.

Anti-Money Laundering

Spanish Court Penalises Four ICBC Employees for AML Violations

06/07/2020

Criminal groups deposited millions of euros cash into accounts at ICBC Spain using split payments, in-house accounts and false identity documents to evade detection.

Trading & Investment

HKEX Launches First Tranche of MSCI Futures Contracts

06/07/2020

HKEX has launched ten new index futures contracts, part of its new licensing agreement with MSCI announced in May.

Trading & Investment

PBOC Announces Planned Enhancements to Bond Connect

06/07/2020

The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.

Market Abuse

ASIC Penalises Credit Suisse for Breaching Trading Rules

05/07/2020

Credit Suisse did not match client orders for on-market buy-backs on an order book as is required by ASIC’s market integrity rules.

Fraud, Scams & Cybercrime

Nearly 500,000 Australians Deplete Retirement Savings

05/07/2020

Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.