ESG / Sustainability

CBIRC Issues Draft Guidelines on Corporate Governance

05/02/2021

The guidelines formalise obligations for banks and insurers to integrate Communist Party leadership in the governance of state-owned and private banks and insurers.

Fintech / Regtech

Korea to Launch Virtual Sandbox, Expand Fintech Support

04/02/2021

The FSC has outlined the work it has planned this year to promote financial innovation and digital finance.

Fintech / Regtech

LINE Bank Taiwan Granted Digital Bank Operating Licence

04/02/2021

LINE Bank could launch trial operations as soon as mid-March, with a view to launching full operations within the first half of the year.

Capital / Liquidity

HK Bank Profitability Suffers, Loan Quality Deteriorates

04/02/2021

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Enforcement

Korea FSS to Punish Top Woori, Shinhan Executives – Report

04/02/2021

Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.

CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate

04/02/2021

The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.

Market Infrastructure

SWIFT Forms Majority-owned Joint Venture with PBOC

04/02/2021

The venture will be able to obtain necessary licences for network management activities, for compliance with local regulations.

Enforcement

CBIRC Identifies Consumer Rights Violations at Everbright Bank

04/02/2021

Financial institutions are asked to use the case as a reference for improving their own consumer rights protection mechanisms.

Fintech / Regtech

SEBI Revises Entry Norms for Innovation Sandbox

04/02/2021

The revisions introduce graded entry norms to encourage innovation and make it easier for firms to participate in the sandbox.