Anti-Money Laundering

MAS Examining Asiaciti Trust Revelations in Pandora Papers

06/10/2021

The Pandora Papers show that Singapore firm Asiaciti Trust had helped politicians and public officials set up trusts and shell companies in secrecy jurisdictions.

Trading & Investment

Malaysia Launches New Crude Palm Oil Futures Contract

06/10/2021

The new contract is expected to attract commodity traders in China’s palm olein market to trade on the DCE and Bursa conurrently.

Fraud, Scams & Cybercrime

HKMA Issues Guidance on Preventing eDDA Fraud

06/10/2021

The HKMA provides good practices banks can use to guard against different fraud scenarios when offering electronic direct debit authorisation services.

Fraud, Scams & Cybercrime

US to Gather 30 Countries to Coordinate Ransomware Response

06/10/2021

The Counter-Ransomware Initiative is aimed at improving law enforcement collaboration and stemming the illicit use of cryptocurrency.

Emerging Prudential Risks

CBIRC Directs Banks to Finance Coal Amid Energy Crisis

06/10/2021

China’s energy crisis is the result of efforts to reduce domestic coal production to meet climate policy objectives, exacerbated by a ban on imports from Australia.

Trading & Investment

Thailand, China to Explore Market Connectivity Initiatives

05/10/2021

SEC and CSRC officials have agreed to explore the development and implementation of connectivity initiatives between their markets.

Credit Risk

IASB Launches Post Implementation Review of IFRS 9

05/10/2021

Among other areas, the review seeks input on the application of IFRS 9 to financial instruments with sustainability-linked features and cash flows linked to ESG targets.

Trading & Investment

BOJ Issues Consultation on Use of Synthetic JPY LIBOR

05/10/2021

Input is sought on the special circumstances in loan and bond contracts that would make transition difficult and the specific details of such circumstances.

Sustainable Finance

HSBC, Temasek to Establish Platform to Fund Sustainable Infrastructure

04/10/2021

HSBC and Temasek, with support from ADB and Clifford Capital Holdings, will dispense over $1bn in loans through the platform within 5 years.