AML / KYC

Macau Amends Legal Framework to Enable Digital Yuan Adoption

27/04/2021

Use of the fully traceable digital yuan will help Chinese authorities curb money laundering and illicit cross-border gambling.

Market Infrastructure

HK, China to Launch Southbound Bond Connect in July – Report

27/04/2021

The relevant regulations will reportedly be issued in May, with a view to launching the southbound bond trading link on 2 July.

Capital / Liquidity

PBOC Ratings Results Highlight Drop in High Risk Institutions 

27/04/2021

The PBOC found rural institutions and village banks to be the riskiest, accounting for a majority of the 442 institutions that are in the ‘red zone’.

Fintech / Regtech

MAS Calls on Governments to Advance Digital Infrastructure

27/04/2021

MAS will seek to build a consortium of countries to explore the potential of digital infrastructure for cross-border use.

AML / KYC

Hong Kong: Six Arrested for Laundering HK$2.5bn

26/04/2021

The six arrested persons opened 60 personal accounts at various banks and made over 2,600 suspicious transactions.

Crypto / Digital Assets

UK Taskforce Publishes Digital Dispute Resolution Rules

25/04/2021

The rules allow parties to digital transactions to quickly resolve disputes through arbitration, where decisions are implemented within smart contracts.

AML / KYC

Final Phase of Meng Extradition Case to Be Delayed

25/04/2021

The final phase of the extradition case is being delayed to allow Meng’s lawyers to examine documents being provided by HSBC as a result of a Hong Kong court ruling.

Enforcement

FINMA Opens Probe Into Credit Suisse Archegos Losses

24/04/2021

The Swiss regulator said it will appoint a third-party agent to investigate “possible shortcomings in risk management” at Credit Suisse.

Enforcement

Taiwan FSC Probes Next Bank Over Possible Regulatory Breaches

22/04/2021

Next Bank is one of the three internet-only banks that was issued a licence by the FSC in 2019. The bank has yet to launch operations.