Enforcement

China NFRA Fines Three Banks for Loan-related Violations

22/08/2023

Several violations involved the improper use of loan proceeds by borrowers such as to fund investments in property and securities.

RBI Asking Banks to Settle UAE Trade Without USD – Report

22/08/2023

The RBI has asked banks to encourage clients and corporates to settle trade with the UAE using the dirham or Indian rupee.

AML / KYC

India Tightens Rules on SIM Card Registration to Combat Fraud

22/08/2023

India’s one million SIM card dealers will have to undergo a mandatory verification and registration process within one year.

Capital / Liquidity

Tokyo Bourse Approves Japan’s First Active ETF Listings

22/08/2023

Two active ETFs, both managed by Nomura Asset Management, will list on the Tokyo Stock Exchange on 7 September.

AML / KYC

China, Thailand, Myanmar, Laos Launch Joint Police Operation

22/08/2023

Police from the four countries have launched a special joint operation to crack down on illegal gambling, fraud, human trafficking and other crimes.

Enforcement

SFC Fines Changjiang Corporate Finance for Sponsor Failures

21/08/2023

The company is prohibited from acting as a sponsor for listing applications in Hong Kong for one year, potentially longer if deficiencies are not addressed.

Fintech / Regtech

Cambodia, Laos Launch Cross-border QR Payment Link

21/08/2023

A second phase of the cross-border payments link between Cambodia and Laos is expected to launch in Q4 2023.

Crypto / Digital Assets

Russia Launches CBDC Pilot With 13 Banks Participating

21/08/2023

The pilot involves 13 banks and 600 individual clients who can make payments at 30 points of sale in 11 Russian cities.

AML / KYC

PBOC Forms New AML Office With Beijing Procuratorate

21/08/2023

The new office will help to establish a coordinated investigation system to combat money laundering and improve the efficiency of fighting financial crime.