ESG / Sustainability

ISSB Forms Working Group to Prevent Jurisdictional Fragmentation

28/04/2022

The working group will seek to align work being done across jurisdictions to set standards in the field of sustainability-related financial disclosures.

AML / KYC

AUSTRAC Enhances MOU with Victoria Casino Regulator

27/04/2022

The Victorian Gambling and Casino Control Commission will be provided designated access to AUSTRAC’s financial intelligence database.

PBOC Directs FIs to Finance Distressed Developers: Report

27/04/2022

About 12 developers will be supported by banks and distressed debt managers in the first wave of the programme.

Capital / Liquidity

BSP Proposes Higher Capital Requirements for Rural Banks

27/04/2022

The BSP says higher capital requirements will enable rural banks to enhance risk management, upgrade resources, and accelerate digital transformation.

ESG / Sustainability

New UK Taskforce to Set Standards for Climate Transition Plans

27/04/2022

The taskforce will develop policy recommendations, sector-specific transition planning templates and guidance, and measures to tackle greenwashing.

Securities / Derivatives

Taiwan: Foreign Brokers Cleared of Wrongdoing in Trading Probe

27/04/2022

A probe into foreign brokerage firms was launched last month after they sold shares in TSMC while also issuing “buy” recommendations in research reports.

Enforcement

Hong Kong: ICAC Charges Three Over Mortgage Fraud

27/04/2022

A property buyer and two estate agents understated the purchase price so the mortgage would be subject to a lower LTV cap.

CBIRC Directs Banks to Finance Green Highway Construction

27/04/2022

Banks are asked to provide financing support for government highway projects and optimise the repayment arrangements for such projects.

Sanctions

Myanmar Exempts Foreign Firms from FX Conversion Rule

27/04/2022

An order requiring all foreign currency held in bank accounts to be converted into local currency will not apply to businesses in special economic zones and most other foreigners.