Securities / Derivatives

TFEX Extends Trading Hours to Facilitate Currency Hedging

27/09/2021

TFEX says extended trading hours will accommodate investors’ trading needs and enable them to manage foreign exchange risk more conveniently.

AML / KYC

US DOJ Agrees to Release of Huawei’s Meng Wanzhou

27/09/2021

Under a deferred prosecution agreement, Meng admitted to making material misrepresentations to HSBC regarding Huawei’s operations in Iran.

Big Picture

Australia Funds Industry Prone to Conflicts of Interest

26/09/2021

A “long, complex value chain” of intermediaries between fund managers and retail investors raises the potential for conflicts of interest.

Securities / Derivatives

ICMA, NAFMII Publish Guidance on China Interbank Bond Market

26/09/2021

The guidance includes a handbook on investing in the CIBM, as well as a set of case studies to help foreign companies better understand panda bond issuance.

Capital / Liquidity

CBIRC Revises Regulatory Rating System for Banks

25/09/2021

The new rating system will increase emphasis on corporate governance and data governance, and be used as the basis for early detection and intervention to address risk.

Crypto / Digital Assets

PBOC Intensifies Crackdown on Cryptocurrency Activity

25/09/2021

Services for virtual currency transactions are deemed illegal, including those provided to Chinese residents by overseas crypto exchanges.

Enforcement

China: Ex-Citic Group Executive Gets 18 years Jail for Bribes

24/09/2021

Zhao Jingwen was sentenced to 18 years in prison and fined CNY 3.2 million for embezzlement and receiving CNY 5.5 million in bribes.

NZ FMA Finds “Poor Value” in Credit Card Repayment Insurance

24/09/2021

Underwriters and distributors are directed to ensure their systems, processes and controls facilitate good customer outcomes.

Market Infrastructure

Japan FSA Issues Business Improvement Order to Mizuho

24/09/2021

The order requires Mizuho to submit a report to the FSA by 29 October on its IT systems and detailed improvement plans.