AML / KYC

EBA Launches EuReCA, a Central Database for AML/CFT

01/02/2022

EuReCA will act as an early warning tool which will help competent authorities to act before ML/TF risks crystallise, the EBA said.

Enforcement

Korea FSS Proposes to Partially Suspend Hana Bank Operations

01/02/2022

The FSS is also proposing to force Hana Bank executives and employees involved in DLF mis-selling to pay penalties.

AML / KYC

Preparatory Work to Implement Basel III is Progressing: HKMA

01/02/2022

The HKMA will submit legislative amendments in early 2023 to implement the Basel III final reforms, which will take effect from 1 July 2023.

DBS to Acquire Citi Consumer Banking Unit in Taiwan

31/01/2022

The acquisition, expected to close in mid-2023, will make DBS the largest foreign bank in Taiwan by assets.

Fintech / Regtech

CBIRC Asks Banks, Insurers to Prioritise Digital Transformation

31/01/2022

New guidance urges banks and insurers to “vigorously promote” digital financial services and further develop their data and technology capabilities.

Securities / Derivatives

TFEX to Expand FX Derivatives Products During 2022

30/01/2022

In the year ahead, TFEX will add more currency pairs to its FX derivatives product line and work to enhance liquidity in main board commodity derivatives.

Big Picture

WEF Report Calls for Cybersecurity to be Prioritised

30/01/2022

The report highlights prioritisation gaps between business executives and security-focused leaders, saying this can leave firms vulnerable to attacks.

Securities / Derivatives

Taiwan to Ease Limit on Investment in Mainland Financial Firms

30/01/2022

The FSC proposes to allow Taiwanese securities and futures companies to own more than 50 percent of Mainland institutions.

Market Infrastructure

SHFE to Introduce Commodity Swaps with Central Settlement

30/01/2022

Shanghai Futures Exchange has issued new rules setting out the requirements for firms to participate as primary dealers, secondary dealers and settlement institutions.