Anti-Money Laundering

Malaysia Consults on Proposed Trust Companies Bill

09/04/2024

Since coming into force in 1949, Malaysia’s Trust Companies Act has only been reviewed once in 1973.

Cryptocurrency

Korea to Soon Release Listing Guidelines for Virtual Assets

09/04/2024

Crypto platforms will not be allowed to list tokens that have had security incidents, unless the cause has been identified and explained and the damage has been recovered.

Cryptocurrency

China Asset Management Applies to Launch Spot Bitcoin ETF in HK

09/04/2024

China Asset Management, one of the Mainland’s largest asset management companies, also has a cooperation agreement with HashKey.

Payments & Settlements

China: SAFE Further Optimises Processes for FX Business

09/04/2024

The requirement for local branches of SAFE to approve registrations of foreign trade enterprises has been canceled. Banks will directly handle registrations instead.

Trading & Investment

Japan Launches New Organisation to Boost Financial Literacy

09/04/2024

The new organisation will aim to enrich financial and economic education and contribute to improving financial literacy in Japan.

Credit Risk

CCB Files Winding-up Petition Against Chinese Developer Shimao

09/04/2024

In other cases involving Chinese developer defaults, legal action was initiated by foreign creditors, not a state-owned bank.

Anti-Money Laundering

Indonesian President Signs Decree on FATF Membership

09/04/2024

The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.

Resolution & Recovery

FINMA Attempts to Withhold Documents in Credit Suisse-related Lawsuits

09/04/2024

The lawsuits relate to losses suffered by investors as a result of a decision by Swiss authorities to wipe out Credit Suisse AT1 bonds in the bank’s rescue last year.

Data Privacy

China Unveils New Measures to Deepen MSME Credit Access

08/04/2024

Platforms in China that aggregate credit data will be integrated into a national network, where a centralised hub will be used to collect and share credit information with FIs.