Enforcement

CBIRC Penalises State-owned Financial Institutions and Subsidiaries

11/01/2021

ICBC, China Development Bank, Great Wall, and Postal Savings Bank and a number of their subsidiaries were penalised almost 200mn yuan for various regulatory violations.

RBNZ Data System Illegally Accessed by Malicious Attacker

10/01/2021

Commercially and personally sensitive information may have been accessed by malicious attackers who accessed a third-party file-sharing service used by the RBNZ.

Market Infrastructure

UOB Prices Singapore’s First Capital Security with SORA Reference

10/01/2021

UOB priced its perpetual, non-call five-year AT1 securities with a reset coupon rate that references the SORA-OIS rate.

ASIC Approves Variations to Banking Code of Practice

10/01/2021

The changes extend the Covid-19 Special Note for six months to September 2021, and amend definitions to bring more small businesses into scope.

Capital / Liquidity

CBIRC Directs Rural Banks to Merge, Reorganise to Contain Risks

10/01/2021

The CBIRC says rural banks should boost capital, merge with other institutions, or introduce strategic investors to mitigate financial risks.

Fintech / Regtech

Taiwan FSC Approves Banks for Second Phase of Open Banking

10/01/2021

Following the launch of the first phase in September 2019, the second phase of open banking will involve the exchange of customer data.

Market Infrastructure

Myanmar Launches First Credit Bureau Following Soft Launch

08/01/2021

The bureau is a joint venture between MB Investment, a company formed by Myanmar banks, and a subsidiary of Singapore-listed Credit Bureau Asia.

AML / KYC

HK Customs Flags Money Laundering Risk from Money Changers

08/01/2021

Amid the pandemic, some criminal actors have turned to licensed money changers, who were more easily lured into criminal activities as their businesses suffer.

Securities / Derivatives

China Issues Final Rules Governing National Carbon Market

08/01/2021

Provincial level authorities will be able to set carbon emissions caps for the first time, and shall be charged with verifying greenhouse gas emissions reports.