China, EU to Finalise Climate Taxonomy By Year-End

30/06/2021

A PBOC official reportedly said experts working on the common taxonomy are expected to complete the final version by the end of this year.

CSRC Approves DBS Stake in Shenzhen Rural Commercial Bank

30/06/2021

DBS will become the largest shareholder of Shenzhen Rural Commercial Bank, paving the way for its expansion in the GBA.

Enforcement

Ex-Shanghai Clearing House Chief Expelled from CCP for Corruption

30/06/2021

Xu Zhen has been expelled from the CCP for borrowing large sums of money using the SCH’s management services and accepting bribes.

Enforcement

Philippine SEC Threatens Online Lenders with Licence Revocation

29/06/2021

The threat is aimed at lending and financing companies that have failed to register and disclose their online lending platforms.

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.