ESG / Sustainability

Taiwan FSC to Simplify Requirements for FIs’ Annual Reports

22/08/2024

The proposed changes aim to simplify the process of annual report preparation and promote gender diversity among the boards of financial institutions.

Market Infrastructure

HK Securities Firms Set to be Added to Wealth Connect Scheme

22/08/2024

Ten securities companies including China CITIC Securities, CICC, Huatai Securities and GF Securities will initially be added to the scheme.

Sanctions

OFAC Issues Update on Infrastructure Modernisation Initiatives

22/08/2024

OFAC has released updated FAQs to make sanctions compliance easier and launched a new online platform for the public to submit queries.

Fintech / Regtech

China, Vietnam Sign MOU on Cross Border Payment Connectivity

22/08/2024

The PBOC and SBV signed an MOU focusing on local currency settlement, currency swaps, and cross-border payment connectivity.

Enforcement

Latvia Extradites Citizen to Face US Charges for Russian Exports

22/08/2024

Oleg Chistyakov conspired with two US nationals to sell sophisticated avionics equipment to Russian companies, in violation of sanctions.

AML / KYC

South Korea Implements Measures to Prevent Insurance Fraud

22/08/2024

South Korea has intensified its efforts to combat insurance fraud with the enactment of new laws and extensive public awareness campaigns.

Capital / Liquidity

Taiwan Considers New Measures to Control Property Speculation

22/08/2024

Banks are asked to develop “specific quantitative improvement plans” for managing the concentration of loans in the real estate sector.

Enforcement

PwC Braces for Potential 6-Month Ban in China – Reports

22/08/2024

PwC is reportedly preparing for a potential 6-month ban in China over its audit of troubled property developer China Evergrande Group.

Fintech / Regtech

BIS Innovation Hub to Develop ISO 20022 Data Analytics Platform

22/08/2024

The Project Keystone platform will support the growing adoption of ISO 20022 standards in payment systems worldwide.