Enforcement

CBIRC Issues Rules for Banks on Handling of Criminal Cases

04/06/2020

The CBIRC has set out banks and insurers’ obligations when handling criminal cases that arise, including duties to investigate, issue reports, determine accountability and hand out punishments.

HKMA Initiative to Nurture Young Talent for Banking Industry

04/06/2020

The HKMA will sponsor up to half of the salaries of the fresh graduates employed by firms that participate in the Banking Talent Programme.

AML / KYC

Philippine Lawmakers Approve Strict New Anti-Terrorism Law

04/06/2020

Wiretaps and arrests can be carried out without a warrant. Bank records can be inspected without a court order. Life imprisonment without parole can be imposed for facilitating terrorist acts.

AML / KYC

ACAMS, FAST Collaborate to Fight Modern Slavery, Human Trafficking

04/06/2020

A new ‘Fighting Modern Slavery and Human Trafficking’ certificate is being provided free-of-charge to financial sector actors.

Fintech / Regtech

Japan Megabanks to Collaborate on Cashless Payments

04/06/2020

The project will explore the use of electronic money and digital currency to make banks and cashless payments services interoperable, and could evolve into the introduction of the ‘digital yen’.

Securities / Derivatives

NAFMII Launches Asset-backed Commercial Paper Pilot

04/06/2020

The pilot programme has so far helped 270 small and micro businesses obtain financing by selling their accounts receivables and notes to be securitised.

Securities / Derivatives

ESMA Clarifies Transparency Rules, Position Limits for Non-EU Venues

04/06/2020

ESMA has clarified its application of post-trade transparency requirements and the position limits regime to third-country trading venues.

Enforcement

CSRC Issues Warning Against CICC-controlled Fund Manager

04/06/2020

CICC-Qianhai Development Fund Management is said to have failed to fulfil its due diligence obligations and promised investors minimum returns, contrary to regulations.

Securities / Derivatives

CSRC Green-lights China Pacific Insurance LSE Listing

03/06/2020

If approved by the LSE, China Pacific Insurance will become only the second company to issue GDRs via the Shanghai-London Stock Connect since its launch in June 2019.