Market Abuse

London Trader Jailed for LIBOR Manipulation Released

05/02/2021

Tom Hayes told Bloomberg this week that efforts to replace LIBOR were pointless and that the rate was far safer now.

Resolution & Recovery

Singapore Launches Simplified Insolvency, Restructuring Programme

05/02/2021

Eligible micro and small companies severely impacted by Covid-19 can apply for help with debt restructuring, business rehabilitation or orderly winding up.

Structural Regulation

CBIRC Issues Draft Guidelines on Corporate Governance

05/02/2021

The guidelines formalise obligations for banks and insurers to integrate Communist Party leadership in the governance of state-owned and private banks and insurers.

Cloud & Infrastructure

Korea to Launch Virtual Sandbox, Expand Fintech Support

04/02/2021

The FSC has outlined the work it has planned this year to promote financial innovation and digital finance.

Structural Regulation

LINE Bank Taiwan Granted Digital Bank Operating Licence

04/02/2021

LINE Bank could launch trial operations as soon as mid-March, with a view to launching full operations within the first half of the year.

Credit Risk

HK Bank Profitability Suffers, Loan Quality Deteriorates

04/02/2021

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Supervision & Enforcement

Korea FSS to Punish Top Woori, Shinhan Executives – Report

04/02/2021

Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.

Anti-Money Laundering

CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate

04/02/2021

The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.

Payments & Settlements

SWIFT Forms Majority-owned Joint Venture with PBOC

04/02/2021

The venture will be able to obtain necessary licences for network management activities, for compliance with local regulations.