ESG / Sustainability

China to Develop Chongqing into Green Finance Hub

30/08/2022

The plan will seek to transform Chongqing into a green finance hub in five years, with “rich green financial products and services”.

Enforcement

CBIRC Directs FIs to Correct Violations of Personal Data Rights

30/08/2022

Banks, wealth management companies, and insurance companies are required to perform self-assessments to identify and rectify violations.

CBIRC Issues Internal Control Rules for Wealth Management Companies

29/08/2022

The rules cover internal controls in relation to investment management, related party transactions, and risk reserves, among other areas.

ESG / Sustainability

China Sets Out Plans to Create National Carbon Accounting System

22/08/2022

A unified and standardised carbon emission statistical and accounting system will be established by 2023 and gradually improved until 2025.

AML / KYC

Singapore Proposes Mandatory SMS Sender Registration to Combat Scams

18/08/2022

IMDA proposes a transition period from October until the end of this year to give organisations time to register their sender IDs.

Securities / Derivatives

China Tightens Risk Management Rules for State-owned FIs

11/08/2022

The Ministry of Finance strengthened rules around offshore investments, risk monitoring, and debt restructuring for “zombie enterprises”.

Securities / Derivatives

Taiwan to Allow Securities Firms to Offer More Trust Products

10/08/2022

Securities firms will be allowed to design more diversified trust products, enabling them to better meet customers’ financial planning needs, the FSC said.

PBOC, CBIRC to Launch New Retirement Savings Pilot

10/08/2022

ICBC, Bank of China, China Construction Bank and Agricultural Bank of China will launch encourage personal deposits in retirement savings products.

Capital / Liquidity

China to Allow Foreign Firms to Establish Finance Companies

09/08/2022

The proposed rules also raise the capital requirements for finance companies, while strengthening risk management and governance obligations.