Enforcement

Ex-GM of Hong Kong Investment Firm Charged with Theft

04/08/2020

The former general manager of Max Dragon Investment is alleged to have stolen HK$22mn from the company bank account between December 2012 and May 2014.

ESG / Sustainability

BSP Joins Network for Greening the Financial System

04/08/2020

The NGFS membership will strengthen BSP’s collaboration with central banks and supervisors on the effective management of climate risks in the financial sector.

Fintech / Regtech

Malaysia Launches New Initiative to Boost Fintech Development

04/08/2020

The Fintech Booster programme is expected to spur a more dynamic fintech ecosystem that can facilitate continued innovation in the financial services sector.

Enforcement

Chinese Regulators Complete Luckin Probe, Confirm Fraud

04/08/2020

The Ministry of Finance and State Administration for Market Regulation both intend to impose administrative penalties against Luckin Coffee for fraud.

AML / KYC

OFAC Sanctions Chinese Entity Over Human Rights Abuses

04/08/2020

The XPCC is considered by OFAC to be a paramilitary organisation with large commercial operations that that are likely to be impacted by US sanctions.

Securities / Derivatives

Taiwan FSC to Allow Banks to Develop New Financial Products

04/08/2020

Banks seeking to develop new wealth management products for high-asset customers can apply to the FSC before 15 September.

Securities / Derivatives

HKEX Launches Second Batch of MSCI Index Futures

04/08/2020

The next batch of contracts is due to be launched on 17 August, with the final four contracts still awaiting regulatory approval.

Fintech / Regtech

The Impact of Covid-19 on Fintech: Call for Response

04/08/2020

The Cambridge Centre for Alternative Finance, World Bank Group and World Economic Forum are calling for input on the impacts of Covid-19 on the fintech industry.

Securities / Derivatives

FSC Korea to Rein in Structured Products Issuance

03/08/2020

The FSC will impose new rules for securities firms on stress testing, liquidity management, leverage and mandatory FX hedging, among its measures to protect investors from risky products.