AML / KYC

Thailand to Introduce Rules for Digital Asset Wallet Providers

02/02/2021

The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.

AML / KYC

China Punishes Former CBIRC Official for Corruption

02/02/2021

The ex-head of the CBIRC’s Shanxi bureau was expelled from the Communist Party and referred for criminal prosecution for suspected bribery.

Market Infrastructure

CBIRC Permits Allianz to Set Up Insurance Asset Management Business

02/02/2021

The business, to be incorporated in Beijing, will be the first wholly foreign-owned insurance asset management firm in China.

Capital / Liquidity

India Announces Support for Banks in Budget for New Fiscal Year

02/02/2021

The budget includes the establishment of a ‘bad bank’ to take over banks’ bad assets and a plan to inject INR 200 billion into state lenders.

Enforcement

HK Court Finds JP Morgan Banker Not Guilty of Bribery

02/02/2021

The prosecution had accused the banker of employing the son of a client as a bribe to win IPO business for JP Morgan.

Enforcement

Singapore Authorities Probe Crowdfunding Platform for Misconduct

02/02/2021

The probe is looking into possible offences under the Penal Code and the Securities and Futures Act by group companies belonging to CoAssets Ltd.

Fintech / Regtech

NAB Announces Plans to Acquire Australian Neobank 86 400

02/02/2021

NAB commenced discussions about a total acquisition of 86 400 in late 2020, having already owned an 18.3 percent stake in the neobank.

Crypto / Digital Assets

India Set to Introduce Bill Banning Private Cryptocurrencies

01/02/2021

The proposed bill will also provide for the creation of a framework for an official digital currency that will be issued by the RBI.

APRA Releases Policy, Supervision Priorities for 2021

01/02/2021

Priorities include updates to the prudential standards on remuneration, resolution and recovery planning, operational risk, governance and risk management.