Hong Kong High Court Orders Evergrande to Liquidate

29/01/2024

In the ruling, the court noted that Evergrande has not been able to bring forward a concrete restructuring proposal after more than 18 months.

Enforcement

Japan FSA Issues Orders to Insurance Major Over Fraud Scandal

29/01/2024

Sompo Japan Insurance is required to draw up an improvement plan including steps to change its corporate culture, enhance customer protection, and improve governance.

Capital / Liquidity

BOK Allows Non-banks to Participate in Open Market Operations

29/01/2024

Asset management firms, mutual savings banks and credit unions will be eligible to participate in MSB auctions and repo transactions with the central bank.

Sanctions

UK Warns of Sanctions Evasion Through Art Storage Sector

29/01/2024

Art market participants should have the ability to conduct regular due diligence checks and identify any change in a client’s circumstances or suspicious activity.

Sanctions

Taiwan Machine-making Tools Still Ending Up in Russia – Reports

29/01/2024

While direct exports have stopped, Taiwanese machine-making tools have still been ending up in Russia via third countries, particularly China and Turkey.

Crypto / Digital Assets

UK Publishes Response to Digital Pound Consultation

28/01/2024

No final decision has been made to pursue a digital pound, but work will continue to explore its feasibility and potential design choices.

Fintech / Regtech

Taiwan Won’t Reopen Applications for Online-only Insurers

27/01/2024

Applications submitted in 2022 were not approved. Following a “comprehensive assessment”, the FSC said it will not reopen applications.

Capital / Liquidity

China Expands Access to Bank Loans for Property Developers

27/01/2024

Developers can use bank loans pledged against commercial properties to repay other loans and bonds and cover operating expenses until end 2024.

AML / KYC

Japan FSA Proposes to Add Jurisdictions to Travel Rule

27/01/2024

Eight countries were added, including the UAE, India, Indonesia, the UK, Estonia, Nigeria, Bahrain, and Portugal.