Regulation Asia relies on a team of journalists, writers and editors to cover regulatory announcements across Asia Pacific. editorial@regulationasia.com
Enforcement
Taiwan Raises Whistleblower Rewards for Serious Crime Tenfold
07/01/2021
Whistleblower rewards are increased tenfold for the reporting of serious illegal financial activities and fivefold for minor illegal financial activities.
BOT Relaxes Foreign Exchange Rules for Non-resident Firms
07/01/2021
The central bank said the relaxations will allow non-financial companies greater flexibility to manage currency risks and liquidity related to the Thai baht.
Market Infrastructure
China Revises Upper Limit on Overseas Lending, Borrowing
07/01/2021
The PBOC and SAFE have adjusted the upper limits on overseas lending and borrowing by domestic enterprises, as the RMB trades at its highest levels since mid 2018.
Capital / Liquidity
China Implements New Bank Performance Evaluation Mechanism
07/01/2021
State-owned banks based on their contributions to the economy, high quality development, risk management, and operational efficiency.
Enforcement
PBOC Penalises Tenpay, Three Others for Violations – Report
07/01/2021
Tencent’s payment platform Tenpay was fined for providing payment services for illegal and false transactions, and processing QR code payments without a licence.
Enforcement
Chinese Court Orders Ratings Firm to Compensate Bond Creditors
07/01/2021
The court held Dagong Global Credit Rating, its controller, underwriter, accounting firm, and law firm jointly responsible for defaults by a construction company three years ago.
Fintech / Regtech
MAS Announces Completion of Phase One of Veritas Initiative
06/01/2021
The first phase of Veritas resulted in the development of a fairness assessment methodology based on the FEAT principles for two use cases.
AML / KYC
White House Bans US Transactions With Chinese Payment Apps
06/01/2021
White House allies including Treasury Secretary Steve Mnuchin also reportedly pressured the NYSE to again reverse its decision on delisting Chinese telecom stocks.
Capital / Liquidity
APRA Announced Further Reduction in Committed Liquidity Facility
06/01/2021
If outstanding government securities continue to increase beyond 2021, the CLF may no longer be required in the foreseeable future, APRA says.
Enforcement
PBOC Confiscates $3m in Illegal Gains from Credit Bureau
06/01/2021
The credit bureau engaged in personal credit business without approval and failed to report senior management changes in a timely manner.
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