Sanctions

China Payments Becoming Increasingly Difficult for Russia

02/09/2024

Chinese banks are returning payments for goods already shipped; Chinese exporters asking for pre-payments; UAE banks rejecting payments for Russia-China trade.

China Issues New Rules on Management of Infrastructure Assets

02/09/2024

The rules prohibit municipal governments from “illegal and irregular borrowing” to support infrastructure assets that don’t generate revenue, and from increasing “hidden debts”.

Enforcement

China Extradites Crime Syndicate Ringleaders to South Korea

01/09/2024

The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.

Fintech / Regtech

JPX Launches New Data Portal to Facilitate Investor Decision-making

01/09/2024

The new “JPxData Portal” aims to make data on Japanese financial markets more accessible to both foreign and domestic investors.

Enforcement

UK Jails Members of Chinese Money Laundering Group

31/08/2024

A 12-year jail sentence was handed to the head of the group, which sold British pounds to UK university students to circumvent China’s foreign currency controls.

Securities / Derivatives

Korea to Set New Fee Distribution Standards for Securities Lending

31/08/2024

Securities firms will have to transparently disclose their fee structures to investors and link fee distribution to the revenues generated from securities lending.

Crypto / Digital Assets

Nasdaq Seeks Regulatory Approval to Launch Bitcoin Options

31/08/2024

Nasdaq said the options will enable investors to hedge their cryptocurrency investments. NYSE also applied for a similar approval earlier this year.

Fintech / Regtech

China NFRA Proposes Tighter Rules for Microfinance Industry

31/08/2024

A ¥200,000 single-customer limit is set for online loans taken by individuals, and a ¥10mn per household limit for loans by small and micro enterprises and their owners.

ESG / Sustainability

China Issues New Guidelines to Promote Green Finance

31/08/2024

The guidelines call on financial institutions to support eligible green and low-carbon companies along the Yangtze River Economic Belt in raising capital.