AML / KYC

US Extradites Ex-BOC Banker to China Over Corruption Charges

22/11/2021

The former BOC managers stole the bank’s money and laundered it through Canada and the US, in a case that dates back 20 years.

China to Launch Targeted Re-lending Facility for Clean Coal

19/11/2021

The CNY 200 billion re-lending facility will provide targeted financing support for cleaner coal mining, processing, and power and heat generation.

Capital / Liquidity

Taiwan FSC to Strengthen ESG Disclosure Requirements

19/11/2021

The FSC is requiring listed companies to include ESG information including data on GHG emissions and workplace diversity in annual reports.

Securities / Derivatives

China Tightens Rules on Special Purpose Bonds, Use of Proceeds

18/11/2021

SPB proceeds must be used strictly in accordance with the purposes disclosed in the prospectus. Any variations must be approved and properly disclosed.

Enforcement

Chinese Court Rules Executives, Auditors Liable for Kangmei Fraud

17/11/2021

Kangmei Pharmaceutical, its executives and auditors will be held fully liable for CNY 2.5bn of investor losses in China’s first ever class action against corporate fraud.

Market Infrastructure

China Asks Banks to Facilitate ‘New Forms’ of International Trade

16/11/2021

With the new rules, the PBOC says it hopes to achieve unified regulation of domestic and foreign currency settlement for new forms of offshore trade.

ESG / Sustainability

CBIRC Identifies Corporate Governance Deficiencies at Banks, Insurers

16/11/2021

The CBIRC identified issues with shareholder behaviour, related party transactions, risk management systems, and internal audit, among other areas.

Securities / Derivatives

Taiwan Raises Risk Management Expectations for Futures Funds

15/11/2021

Futures trusts will need to have dedicated risk management departments and be prohibited from conducting discretionary futures trades for clients.

Securities / Derivatives

Taiwan Tightens Listed Company Rules on Related Party Transactions

13/11/2021

Listed companies will need to seek approval from their shareholders for related party transactions worth more than 10% of company assets.