AML / KYC

CBIRC Discloses List of ‘Illegal Shareholders’ of Banks, Insurers

06/07/2020

20 of the 38 companies on the list are linked to either Baoshang Bank or Anbang Insurance, which both needed a state bailout in recent years.

Market Infrastructure

16 Banks Announce Initiative to Digitalise Payments Across EU

06/07/2020

The unified payment solution for consumers and merchants across Europe will encompass a payment card, digital wallet, and online and P2P payments.

AML / KYC

S. Korea Approves Use of Biometrics for Digital Identification

06/07/2020

Korea’s Fair Trade Commission has revised bank transaction law to allow the use of biometrics for identification in bank teller transactions.

Capital / Liquidity

BCBS Releases 18th Progress Report on Basel III Adoption

06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

Securities / Derivatives

New Bill Could Ban Some Chinese Firms from US Capital Markets

06/07/2020

The bill would reportedly seek to ban Chinese companies that engage in spying or human rights abuse, or support China’s military or industrial policy.

Securities / Derivatives

Shanghai Bourse Issues Draft Rules on ‘Targeted’ Convertible Bonds

06/07/2020

Targeted convertible bonds to be used to support mergers, acquisitions, reorganisation, restructuring, or refinancing of listed companies.

AML / KYC

Spanish Court Penalises Four ICBC Employees for AML Violations

06/07/2020

Criminal groups deposited millions of euros cash into accounts at ICBC Spain using split payments, in-house accounts and false identity documents to evade detection.

Uncategorised

HKEX Launches First Tranche of MSCI Futures Contracts

06/07/2020

HKEX has launched ten new index futures contracts, part of its new licensing agreement with MSCI announced in May.

Securities / Derivatives

PBOC Announces Planned Enhancements to Bond Connect

06/07/2020

The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.