KYC & CDD

HK Banks Told to Stop Accepting BNO Passports as Valid ID

09/02/2021

The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.

Climate Risk

China Set to Establish National Carbon Emissions Trading Scheme

08/02/2021

In the first phase, a total of 2,225 power utilities have been assigned carbon emissions limits, representing 30 percent of China’s total emissions.

Fraud, Scams & Cybercrime

Luckin Coffee Files for Bankruptcy to Facilitate Restructuring

08/02/2021

Luckin said it will continue to pay suppliers, vendors and employees while it negotiates with its stakeholders regarding a restructuring of its financial obligations.

Market Abuse

Korea FSS Seeks Prosecution of Hana Financial CEO

08/02/2021

The regulator said it discovered illegal trading activities by CEO Lee Jin-kuk during an inspection of Hana Financial Investment last year.

Conduct, Culture & Accountability

SFC Sets Out Conduct Standards Expected in Capital Raisings

08/02/2021

The proposals establish the standards of conduct expected of intermediaries participating in bookbuilding, pricing, allocation and placing activities.

KYC & CDD

Foreign Banks Penalised in Taiwan for Facilitating FX Speculation

08/02/2021

Deutsche Bank is permanently banned from trading TWD deliverable and non-deliverable forwards. ING, ANZ and Citi received lesser punishments.

Conduct, Culture & Accountability

HKMA Extends Initiative to Nurture Talent for Banking Industry

08/02/2021

The HKMA will continue to reimburse participating institutions up to 50% of the monthly salary of programme participants and subsidise professional training course fees.

Trading & Investment

SGX, Trumid, Hillhouse to Launch Asian Bond Trading Platform

08/02/2021

The partnership will connect SGX’s and Trumid’s bond trading platforms to enhance liquidity and execution in the Asian bond market for global clients.

Structural Regulation

Toss Bank Applies for Digital Bank Operating Licence in Korea

08/02/2021

Toss Bank was awarded a preliminary licence to operate an internet-only bank in December 2019. It plans to launch operations in mid-2021.