Taiwan Central Bank More Offers Financing Support to SMEs

31/05/2021

The central bank will provide TWD 100 billion for loans to SMEs. State-owned banks have set aside a further TWD 550 billion to support business lending.

HK to Exempt Top Execs of Financial Firms from Quarantine

31/05/2021

Senior executives of licensed financial corporations or their overseas affiliates who are fully vaccinated, and meet the eligibility criteria, may apply for the exemption.

Market Infrastructure

Shanghai Maps Out Plans to Become Global Wealth Hub

31/05/2021

Shanghai will further open up to foreign investors and new financial services products will be introduced, including various derivatives products.

Securities / Derivatives

CBIRC Directs Banks to Stop Selling Commodities Futures – Report

28/05/2021

The CBIRC has asked banks to completely unwind their books for commodities-linked products and stop selling them to individual investors.

Enforcement

Ant Group Suspends ABS Products Amid Regulatory Pressure

28/05/2021

The suspended asset-backed securities are backed by online loans sold on Ant Group’s online lending platforms, Huabei and Jiebei.

AML / KYC

DOJ Settles Julius Baer Money Laundering Probe for $80m

28/05/2021

Julius Baer admitted it conspired to launder over $36mn in bribes through the US to soccer officials with FIFA and other soccer federations.

Enforcement

China Watchdog Exposes Corrupt Former Regulators

28/05/2021

Regulators inspected Baoshang Bank on 50 occasions and deliberately avoided parts of the business that had significant potential risks.

Crypto / Digital Assets

Inner Mongolia Government Threatens Punishment for Crypto Mining

28/05/2021

A new notice warns telecoms, big data centres and cloud computing companies of severe punishment if they engage in or facilitate crypto mining activities.

Securities / Derivatives

Thailand SEC Approves New Criteria for SME Fundraising

27/05/2021

The new fundraising criteria for SMEs and startups proposed by the stock exchange are expected to become effective this year.