Enforcement

Luckin Coffee Files for Bankruptcy to Facilitate Restructuring

08/02/2021

Luckin said it will continue to pay suppliers, vendors and employees while it negotiates with its stakeholders regarding a restructuring of its financial obligations.

Enforcement

Korea FSS Seeks Prosecution of Hana Financial CEO

08/02/2021

The regulator said it discovered illegal trading activities by CEO Lee Jin-kuk during an inspection of Hana Financial Investment last year.

Securities / Derivatives

SFC Sets Out Conduct Standards Expected in Capital Raisings

08/02/2021

The proposals establish the standards of conduct expected of intermediaries participating in bookbuilding, pricing, allocation and placing activities.

Enforcement

Foreign Banks Penalised in Taiwan for Facilitating FX Speculation

08/02/2021

Deutsche Bank is permanently banned from trading TWD deliverable and non-deliverable forwards. ING, ANZ and Citi received lesser punishments.

HKMA Extends Initiative to Nurture Talent for Banking Industry

08/02/2021

The HKMA will continue to reimburse participating institutions up to 50% of the monthly salary of programme participants and subsidise professional training course fees.

Fintech / Regtech

SGX, Trumid, Hillhouse to Launch Asian Bond Trading Platform

08/02/2021

The partnership will connect SGX’s and Trumid’s bond trading platforms to enhance liquidity and execution in the Asian bond market for global clients.

Fintech / Regtech

Toss Bank Applies for Digital Bank Operating Licence in Korea

08/02/2021

Toss Bank was awarded a preliminary licence to operate an internet-only bank in December 2019. It plans to launch operations in mid-2021.

Market Infrastructure

Australia Passes Mandatory Comprehensive Credit Reporting Bill

07/02/2021

Banks will have to report expanded information about the credit history of their customers to credit agencies, paving the way for more competition in the lending market.

Market Infrastructure

CSRC Approves Merger of Shenzhen’s Main and SME Boards

07/02/2021

The move will simplify the structure of the Shenzhen bourse and help it to better meet the financing needs of enterprises at different stages of development.