Fintech / Regtech

Hong Kong AoF Publishes Report on AI Adoption in Banking

23/08/2020

The report provides insights about the risk management frameworks and overarching supervisory principles banks use when adopting artificial intelligence.

Capital / Liquidity

China: Top Court Cuts Private Lending Rates Nationwide

23/08/2020

Private lenders can charge a maximum four times the one-year loan prime rate. Based on the current rate, the maximum lending rate is 15.4%, compared to 24% previously.

Securities / Derivatives

China to Pilot Direct Foreign Access to Interbank Bond Market

23/08/2020

Starting 1 September, foreign institutional investors and QFII/RQFII participants can trade in China’s interbank bond market on a trial basis.

AML / KYC

SFC Grants In-principle Approval to Virtual Asset Trading Platform

23/08/2020

Once conditions for final approval are satisfied, OSL will be able allowed to operate a brokerage and automated trading service for digital assets.

AML / KYC

Pakistan Issues Consolidated List of Sanctioned Individuals, Entities

23/08/2020

The Ministry of Foreign Affairs says various sanctions were already in place against almost all of the individuals and entities listed by the United Nations Security Council.

AML / KYC

Thailand SEC to Simplify KYC Rules for Low Risk Investment Products

22/08/2020

The SEC proposes to simplify KYC requirements for low-risk investment products such as local money market funds with daily redemption, subject to a THB 50,000 investment limit per account.

AML / KYC

ISO Sets Standard for Embedding LEIs in Digital Certificates

22/08/2020

Simplified LEI integration paves the way for all digital certificates to be linked by a universal identifier and reduces the resource burden on certificate issuers.

Capital / Liquidity

BSP Relaxes Real Estate Lending Limits for Banks

21/08/2020

The higher limit will encourage bank lending to households for the acquisition or construction of a residential real estate property the BSP said.

Enforcement

Scotiabank Resolves DOJ, CFTC Spoofing Charges for $127.4m

20/08/2020

Four Scotiabank traders based in New York, London and Hong Kong placed thousands of orders in precious metals futures between 2008 and 2016 to manipulate prices.