The ratings agency is a target of an investigation by the securities regulator for poor governance and risk management following a spate of overly optimistic ratings given to local issuers.
The bank was fined HK$5mn for ineffective procedures for continuous monitoring of business relationships and due diligence on pre-existing customers.
An information sharing network between 64 regional banks aimed at AML/CFT efforts is part of a larger legal and regulatory push in the country against money laundering in preparation for an FATF inspection.
Loans classified as non-performing jumped to $284bn at banks, up 10% during the second quarter. Banking regulator says asset quality is "stable".
Hong Kong SFC Proposes New Rules For Securities Margin FinancingAugust 20, 2018
CSRC Bars Dagong from Ratings Business for One YearAugust 20, 2018
Cost Not A Factor in Ensuring Cyber Security – RBIAugust 20, 2018
SEBI Cuts Time for Listing Debt Securities in HalfAugust 20, 2018
FSB Conducts Peer Review on LEI ImplementationAugust 20, 2018
Moody’s Upgrades 14 Vietnamese Banks Following Sovereign Ratings UpgradeAugust 20, 2018
HKMA Reprimands, Fines Shanghai Commercial Bank for AML/CFT FailuresAugust 20, 2018
CPMI, IOSCO Consult on Governance of OTC Derivatives DataAugust 20, 2018
China Seeks ‘Bad Bank’ AMCs’ Help to Resolve P2P CrisisAugust 20, 2018
Australia Considering Changes to Bank Capital FrameworkAugust 16, 2018