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.