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.

AML / KYC

Korean Crypto Exchanges Face “Existential Crisis” – Report

27/05/2021

Crypto exchanges have until 24 September to partner with banks on real-name accounts as a requirement for a business licence from the FSC.

S. Korea to Expand Microfinance Support Fund

27/05/2021

Legislative revisions will expand the pool of microfinance funds available by requiring banks and other FIs to make mandatory contributions.

ESG / Sustainability

BOE Explores Options for Greening Bond Purchase Programme

26/05/2021

The BOE is exploring tools to incentivise companies whose debt it holds to take decisive action to achieve net zero in meaningful and lasting ways.

Fintech / Regtech

Bank of Korea Seeks Technology Partner to Test CBDC

25/05/2021

The testing and simulation exercise will be conducted in two phases, the first involving the creation, issuance and redemption of a digital won.