Capital / Liquidity

China Introduces New Measures to Incentivise Bank Lending

15/12/2021

The PBOC is providing banks with capital to lend to small businesses, and acting as an intermediary between lenders and property developers.

Securities / Derivatives

SET Allows Derivative Warrants to Use Foreign Stocks

15/12/2021

The first six derivative warrants with foreign underlying stocks were listed on the SET on Wednesday, issued by Macquarie Securities.

Securities / Derivatives

MAS to Raise Corporate Finance Due Diligence Standards

15/12/2021

The new rules will require corporate finance advisers to establish a governance framework for due diligence which includes ensuring the veracity of information obtained.

Securities / Derivatives

SFC Set to Launch Digital Licensing Platform on WINGS

15/12/2021

New electronic licensing forms for licence applications, annual returns, notifications and regulatory filings are to be submitted through WINGS from 3 January.

AML / KYC

UK Court Convicts, Fines NatWest for AML Failings

15/12/2021

NatWest’s accepted cash deposits worth around GBP 264 million. The case represents the first time the FCA has pursued criminal charges for money laundering failings.

Enforcement

FMA Cancels Financial Advice Provider’s Transitional Licence

15/12/2021

This was the first transitional licence cancelled by the FMA, due to “serious misconduct” by the company’s sole financial adviser at a previous employer.

SAFE Revises Reporting Requirements for Banks’ Overseas Activity

15/12/2021

Banks will have to report new items related to the London Stock Connect and Wealth Connect, as well as additional details on their overseas subsidiaries.

Big Picture

CPMI Reviews Developments in Retail Fast Payment Systems

14/12/2021

The implementation of retail FPS across the globe has risen from under a dozen jurisdictions in 2010 to around 60 in 2021.

Fintech / Regtech

China MIIT Issues Plans for Expansion of Big Data Industry

14/12/2021

The plan includes measures to establish a market-oriented data pricing mechanism, strengthen data governance and security, and establishment data trading platforms.