AML / KYC

Hong Kong ICAC Charges Another in DBS L/C Fraud Case

23/01/2021

The construction company director conspired with other individuals to defraud DBS into issuing $75.3mn in L/Cs that had no genuine underlying transactions.

Crypto / Digital Assets

SGX, Temasek Partner on Digital Asset Infrastructure in Capital Markets

23/01/2021

A new JV will use blockchain-based technologies to provide an issuance-to-settlement network for Asia bonds, funds and sustainable finance products.

AML / KYC

China Sanctions 28 Trump Officials as Biden Takes Office

21/01/2021

The 28 officials and their immediate family members will be barred from entering China, Hong Kong and Macao, and restricted from doing business with China.

Enforcement

NAFMII Punishes Bond Underwriters Over SOE Default

21/01/2021

The three banks failed to conduct proper due diligence and verify cash that appeared to be abnormally restricted when underwriting Yongcheng Coal’s bonds.

Market Infrastructure

LME Proposes to Close Europe’s Last Open-outcry Trading Venue

21/01/2021

The LME’s trading ring has been used for metals trading since 1877. It’s temporary closure in March due to the Covid-19 pandemic may end up being permanent.

RBA Report Contradicts Official Stance on Responsible Lending Laws

21/01/2021

An RBA internal report indicates that the absence of responsible lending laws could put borrowers at greater risk, particularly in a low interest rate environment.

Securities / Derivatives

Malaysia Expands Sustainable Sukuk and Bonds Grant Scheme

21/01/2021

Eligible issuers can offset up to 90% of the external review costs incurred for the issuance of sustainable sukuk and bonds, subject to a maximum MYR 300,000 per issuance.

Securities / Derivatives

HKEX to Launch New Mini USD/CNH Futures Contract

21/01/2021

The new contract will cater to participants who prefer cash settlement and smaller contract sizes, such as medium-sized corporates and individuals.

Securities / Derivatives

TWSE to Launch New Innovation Board in Q3 This Year

21/01/2021

Companies will be required to meet a market cap threshold of TWD 1.5 billion to list on the new ‘Taiwan Innovation Board’, and profitability requirements will be eased.