AML / KYC

HK Banks Told to Stop Accepting BNO Passports as Valid ID

09/02/2021

The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.

Securities / Derivatives

China Set to Establish National Carbon Emissions Trading Scheme

08/02/2021

In the first phase, a total of 2,225 power utilities have been assigned carbon emissions limits, representing 30 percent of China’s total emissions.

Enforcement

Luckin Coffee Files for Bankruptcy to Facilitate Restructuring

08/02/2021

Luckin said it will continue to pay suppliers, vendors and employees while it negotiates with its stakeholders regarding a restructuring of its financial obligations.

Enforcement

Korea FSS Seeks Prosecution of Hana Financial CEO

08/02/2021

The regulator said it discovered illegal trading activities by CEO Lee Jin-kuk during an inspection of Hana Financial Investment last year.

Securities / Derivatives

SFC Sets Out Conduct Standards Expected in Capital Raisings

08/02/2021

The proposals establish the standards of conduct expected of intermediaries participating in bookbuilding, pricing, allocation and placing activities.

Enforcement

Foreign Banks Penalised in Taiwan for Facilitating FX Speculation

08/02/2021

Deutsche Bank is permanently banned from trading TWD deliverable and non-deliverable forwards. ING, ANZ and Citi received lesser punishments.

HKMA Extends Initiative to Nurture Talent for Banking Industry

08/02/2021

The HKMA will continue to reimburse participating institutions up to 50% of the monthly salary of programme participants and subsidise professional training course fees.

Fintech / Regtech

SGX, Trumid, Hillhouse to Launch Asian Bond Trading Platform

08/02/2021

The partnership will connect SGX’s and Trumid’s bond trading platforms to enhance liquidity and execution in the Asian bond market for global clients.

Fintech / Regtech

Toss Bank Applies for Digital Bank Operating Licence in Korea

08/02/2021

Toss Bank was awarded a preliminary licence to operate an internet-only bank in December 2019. It plans to launch operations in mid-2021.