Securities / Derivatives

Daiwa Securities Joint Venture Granted Beijing Business Licence

03/01/2021

The business licence makes Daiwa Securities (China) Co Ltd the fourth foreign-owned joint venture securities firm in Beijing.

Market Infrastructure

China, EU Leaders Agree Bilateral Investment Treaty

03/01/2021

China will open multiple industries to EU businesses, removing joint-venture requirements, equity caps and forced technology transfers.

AML / KYC

OFAC Extends Chinese Military Company Ban to Subsidiaries

03/01/2021

In a set of FAQs, OFAC has clarified that Executive Order 13959 also applies to subsidiaries, derivatives, ETFs, index funds and mutual funds.

AML / KYC

Japan Regulators Order Crypto Exchange to Improve AML Systems

02/01/2021

Avacus Co Ltd must build an AML/CTF risk management system that ensures transactions are confirmed and recorded at the time of transaction.

Capital / Liquidity

Taiwan FSC Designates First Commercial Bank as Sixth D-SIB

02/01/2021

In June 2019, the FSC designated CTBC Bank, Cathay United Bank, Taipei Fubon Bank, Mega International Commercial Bank and Taiwan Cooperative Bank as D-SIBs.

Enforcement

China: Revised Criminal Law Raises Penalties for Capital Market Offences

02/01/2021

The amendments focus on fraudulent issuance, information disclosure falsification, provision of false certification documents by intermediaries, and market manipulation.

Securities / Derivatives

Korea Set to Establish ‘New Deal’ Fund in March 2021

02/01/2021

The application process for private fund managers to set up and manage feeder funds under the New Deal fund began in December 2020.

Capital / Liquidity

Japan FSA Issues Draft Policy for Basel III Implementation

02/01/2021

Japan will adopt the Basel III standards in consideration of the characteristics of domestic financial institutions, the FSA said.

BSP Grants Foreign Banks Relief from Single Borrower’s Limit

02/01/2021

The measure is expected to help boost lending, bolster economic growth and diversify credit exposures, said BSP governor Benjamin Diokno.