Anti-Money Laundering

FSC Korea Proposes New Penalty Standards for VASPs

11/03/2021

FIs and VASPs can be penalised for failing to report and maintain records of suspicious transactions, and failures to properly manage customers’ transactions records.

Trading & Investment

Chinese State-backed Funds Intervene to Calm Market

11/03/2021

The government reportedly blocked social media mentions of the stock market while local media outlets downplayed recent market turbulence.

Operational Risk

APRA Accepts Court Enforceable Undertaking from Allianz

11/03/2021

Allianz Australia acknowledges previous risk and compliance weaknesses and emphasises its commitment to addressing these issues.

Structural Regulation

HK: BNO Passports May Not be Used for Early MPF Withdrawal

11/03/2021

MPF scheme members cannot rely on a BN(O) passport or its associated visa as evidence in support of an application for early withdrawal of MPF.

Liquidity Risk

FSC Korea Extends Easier Liquidity Rules for Banks

10/03/2021

The easier liquidity rules, introduced in April and extended in August, are now scheduled to end at the end of September.

Liquidity Risk

PBOC to Limit Short-term Bond Issuance by Securities Firms

10/03/2021

Short-term bonds issued by securities firms will subject to a limit of 60% of net capital. The eligibility criteria have also been strengthened.

Liquidity Risk

RBNZ Removes Liquidity Facilities Amid Improving Market Conditions

10/03/2021

Financial market conditions have “improved significantly” since the Term Auction Facility and the Corporate Open Market Operation were introduced.

PEPs & Sanctions

China to Bolster Legal Defences Against Foreign Sanctions

09/03/2021

China plans to accelerate legislation designed to guard against foreign sanctions, interference and long-arm jurisdiction, a top lawmaker has said.

Cybersecurity

EBA on Heightened Security Alert Following Cyber Attack

09/03/2021

Tens of thousands of organisations in Asia, Europe and the US were targeted in a campaign that exploited vulnerabilities in different versions of Microsoft’s mail server software.