Chinese Private Banks Violating New Online Lending Rules

21/01/2022

New rules which took effect from 1 January prohibit local and regional banks from extending online loans to borrowers outside of their operating territories.

PBOC Cuts Benchmark Rates to Spur Lending, Economy

21/01/2022

The LPR was lowered for the first time since April 2020 after data showed a worsening outlook for the property sector and weaker consumer activity.

AML / KYC

Malaysia Receives KPMG Payment to Settle 1MDB Claims

21/01/2022

The 1MDB funds recovered so far are only enough to pay off the principal owed for 2022. The remaining debt will continue to be bourne by the government.

AML / KYC

MAS Fines Vistra Trust for Failures in AML Controls

20/01/2022

Vistra failed to identify certain higher risk accounts and to subject these accounts to EDD measures, both during account acquisition as well as on an ongoing basis.

Market Infrastructure

FS-ISAC Initiative to Bolster Financial Sector Supply Chain Security

20/01/2022

The initiative fosters continuous collaboration and information sharing between financial institutions and critical network infrastructure and services providers.

RBNZ Proposes to Reduce ‘Burden’ of Preparing Assurance Reports

20/01/2022

The RBNZ proposes changes to make assurance reports on bank disclosure statements easier to navigate, more readable, and easier to prepare.

AML / KYC

MAS, ABS Announce Measures to Bolster Online Banking Security

20/01/2022

Singapore banks will put in place the more stringent measures within the next two weeks, and work on more permanent solutions in the coming months.

Securities / Derivatives

CMB Backed SPAC Applies for Hong Kong Listing

20/01/2022

The SPAC listing application was made by Aquila Acquisition Corporation, whose ultimate parent is China Merchant Bank.

Securities / Derivatives

Bursa Malaysia Enhances Rules on Board Independence, Diversity

19/01/2022

The rule amendments limit board tenure to 12 years, require the appointment of at least one woman director, and enhance transparency on board appointments.