Anti-Bribery & Corruption

Ex-China Development Bank Chairman Arrested for Bribes

14/02/2020

Hu Huaibang is said to have used his position to help CEFC China Energy and HNA Group obtain billions of dollars in credit that fuel their expansions.

Payments & Settlements

Vietnam Scraps Proposed Foreign Ownership Cap for Payments Firms

14/02/2020

The SBV says the 49% foreign ownership limit proposed last November would hamper foreign investment in payments and fintech, and present difficulties for existing players.

Structural Regulation

BOT Prepares Guidance for Banks on Service Fee Calculations

14/02/2020

The guidance will cover fees for corporate, SME and retail banking customers, as part of a broader push for fairer fee structures.

PEPs & Sanctions

OFAC Quietly Blocks Payments with Indirect Links to North Korea – Report

14/02/2020

In private communications with banks, OFAC has been blocking usually-permissible payments with any overseas account that officials believe separately handled funds for North Korea.

Conduct, Culture & Accountability

ASIC Asks Superannuation Trustees to Improve Member Communications

14/02/2020

ASIC’s review of communications material from 12 superannuation funds found that some trustees are not always sufficiently focused on their members’ needs.

Cybersecurity

DTCC Calls For Coordinated Effort on DLT Security Framework

14/02/2020

DTCC is calling for a cross-sectoral, coordinated strategy around the development of a principles-based framework to identify and address DLT-specific security risks.

Fraud, Scams & Cybercrime

Nissan Seeks Damages from Former Chairman Carlos Ghosn

14/02/2020

The lawsuit seeks $90mn initially, seeking to recover funds linked to fraudulent payments, as well as legal, regulatory and investigation costs already incurred by Nissan.

Credit Risk

HKMA Convenes Special Teleconference on SME, Personal Lending

14/02/2020

The Banking Sector SME Lending Coordination Mechanism discussed ways to extend greater support to SME and retail customers, in light of the Covid-19 threat to cashflows.

Credit Risk

BSP Extends Prudential Loan Cap Transition Period for Foreign Banks

14/02/2020

The extended transitory period is aimed at ensure continued financing support for public sector initiatives under the ‘Build, Build, Build’ programme by foreign bank branches.