Citigroup to Exit 13 Markets, Including 10 in Asia

19/04/2021

The move is part of an ongoing strategic review to allow Citi to direct resources to the businesses where it has the greatest scale and growth potential.

ESG / Sustainability

PBOC to Extend Stress Tests to All Domestic Banks This Year

18/04/2021

Previously, only major banks were stress-tested. The expanded stress tests are meant to improve risk monitoring and early warning systems.

National Security, Financial Stability are Mutually Dependent: HKMA

18/04/2021

Chief executive Eddie Yue said the HKMA is pursuing initiatives to enhance its use of technology to analyse financial data as part of its efforts in market supervision.

Securities / Derivatives

HKMA, SFC Consult on Annual Update to FSP List

15/04/2021

A unit of Toronto-Dominion Bank is proposed to be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.

Enforcement

SFC Fines Optimas Capital Over Short Position Reporting Errors

15/04/2021

The errors occurred as a result of a programming mistake in a script created to automate the process of identifying reportable short positions.

AML / KYC

Hong Kong: Nine Arrested for Laundering HK$900 Million

15/04/2021

Part of the laundered funds came from 55 victims of investment frauds and romance scams, police say.

Fintech / Regtech

FSC Korea to Create Policy on Use of AI in Financial Services

14/04/2021

The policy seeks to improve fairness and transparency, and protect consumers from newly emerging financial crimes.

Mizuho Head to Turn Down JBA Chairmanship – Report

14/04/2021

Mizuho Financial Group president and group CEO Tatsufumi Sakai was due to take over as JBA chairman on 1 April.

AML / KYC

HSBC Agrees to Share Documents in Meng Extradition Case

14/04/2021

A Hong Kong judge has approved an agreement between Huawei and HSBC that includes document sharing by the bank, with some redactions.