Capital Adequacy

APRA Extends Regulatory Approach For Covid-19 Loan Deferrals

08/07/2020

APRA will also allow banks to treat loans restructured by 31 March 2021 as ‘performing’ for capital and regulatory reporting purposes.

Anti-Money Laundering

New York Regulator Fines Deutsche Bank for AML Failures

08/07/2020

Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.

Credit Risk

Record Korea Budget to Support Corporate Bond-buying

08/07/2020

The supplementary budget will cover a 1tr won capital injection for an SPV that will purchase low-rated corporate bonds and commercial paper.

Anti-Bribery & Corruption

Ex-ICBC Shanghai Boss Pleads Guilty to Bribery

08/07/2020

Prosecutors said Gu Guoming took advantage of his position to help others obtain loans and project contracts, and illegally received bribes worth over 136 million yuan.

PEPs & Sanctions

UK Imposes First Sanctions Over Human Rights Abuses

07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

Trading & Investment

Malaysia to Promote Greater Capital Market Innovation

07/07/2020

The SC will invite innovative stockbroking models such as digital-only brokers and algo trading platforms. Bursa’s trading and clearing memberships will be separated.

Structural Regulation

SEBI Finalises Amendments to Investment Adviser Rules

07/07/2020

The final rules increase the net worth, qualification and experience requirements for investment advisers and introduce client-level segregation of advice and distribution activities.

Fraud, Scams & Cybercrime

FSS Korea Considers Legal Action Against HK Hedge Fund

07/07/2020

Large losses on leveraged positions at Hong Kong-based Gen2 Partners earlier this year prompted a liquidity squeeze and a freeze on early redemptions.

Anti-Money Laundering

S. Korea Uses AI, Big Data Analytics to Detect Tax Evasion

07/07/2020

A new AI-based big data analytics system will be used by the National Tax Service to detect cases of tax evasion using borrowed-name accounts.