Enforcement

CBIRC Bans Ex-President of Sichuan Trust for 8 Years

29/06/2021

Former Sichuan Trust president Chen Jun is being punished for his role in the firm’s failure to repay investors about CNY 25 billion.

Market Infrastructure

Chinese Regulators Instruct Banks to Reduce Interbank Payment Fees

29/06/2021

Banks have a one-month transition period to implement the fee reduction measures, which focus on intra-city and inter-bank withdrawals from ATMs.

Crypto / Digital Assets

HKEX Names Firms Piloting New Stock Connect Settlement Platform

28/06/2021

BNP Paribas, Citibank, CSOP Asset Management, Invesco, Northern Trust, State Street, Standard Chartered, BNY Mellon and HSBC will join the HKEX Synapse pilot.

Enforcement

Korea FSC Extends Optimus Suspension for Six More Months

28/06/2021

A new fund management company is being set up to take over and manage funds previously operated by Optimus Asset Management.

ESG / Sustainability

HK to Accelerate Plans for Mandatory Climate Disclosures – Report

28/06/2021

The HKMA’s Darryl Chan reportedly said mandatory climate disclosure requirements could arrive in Hong Kong as early as next year.

Taiwan Raises Cap on Special Loans to Small Businesses

28/06/2021

The Small and Medium Enterprise Credit Guarantee Fund of Taiwan will underwrite 100 percent of the lending programme.

Big Picture

AmCham Offers Taiwan Tips for Improving Financial Sector

27/06/2021

AmCham Taipei’s new whitepaper offers recommendations for banking, capital markets, asset management, private equity, insurance, tax, and sustainable development.

Fintech / Regtech

Taiwan Central Bank Experimenting with CBDC

27/06/2021

Central bank staff are working with software engineers to simulate how transactions would be made with a CBDC, known as “govcoin”.

Fintech / Regtech

FSC Korea Set to Grant First Insurance Firms MyData Licences

27/06/2021

The granting of licences to insurance companies is expected to help diversify the service areas covered by the MyData platform.