Market Infrastructure

UPDATED – HKEX to Acquire Stake in Guangzhou Futures Exchange

07/02/2021

The move, being the first-ever equity investment in a mainland futures exchange by a non-mainland investor, will help HKEX promote green and low-carbon markets across the region.

Big Picture

Australian Financial System Remains Fundamentally Sound: APRA

07/02/2021

APRA chair Wayne Byres says the banking, insurance and superannuation sectors were able to act as shock absorbers for the rest of the economy amid the Covid-19 pandemic.

Capital / Liquidity

China: Liaoning Govt to Merge 12 City Commercial Banks

07/02/2021

The PBOC said the new entity will better serve the high-quality development and overall revitalisation of Liaoning.

AML / KYC

PBOC, SAFE Issue AML Guidelines for Cross-border Business

06/02/2021

The guidelines apply to cross-border activities using domestic or foreign currencies, as well as domestic activities using foreign currencies.

Enforcement

FSC Penalises Citibank Taiwan Over Reporting Errors

05/02/2021

The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.

Enforcement

London Trader Jailed for LIBOR Manipulation Released

05/02/2021

Tom Hayes told Bloomberg this week that efforts to replace LIBOR were pointless and that the rate was far safer now.

Singapore Launches Simplified Insolvency, Restructuring Programme

05/02/2021

Eligible micro and small companies severely impacted by Covid-19 can apply for help with debt restructuring, business rehabilitation or orderly winding up.

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.