Enforcement

Leaked Report Reveals Credit Suisse Culpability in Lescaudron Fraud

09/02/2021

The case involved Patrice Lescaudron, a French banker who was jailed for defrauding clients in 2018 before committing suicide last year following his early release.

Capital / Liquidity

FSC Korea Defends Restrictions on Bank Dividend Payouts

09/02/2021

The FSC noted that 27 of 40 major global economies are taking similar measures to restrict dividends and share buybacks to ensure financial sector stability.

AML / KYC

Korea: FSC Financial Sector Focus to Include Risk, Competition, Innovation

07/02/2021

The FSC’s 2021 policy agenda for the financial sector will include measures to bolster risk management while also strengthening competitiveness and facilitating digital innovation.

Market Infrastructure

RBI Issues Guidance to Enhance Internal Audit Function at NBFCs, UCBs

07/02/2021

Internal audit frameworks of select NBFCs and UCBs will have to include an evaluation of the risk management systems and control procedures used in various areas of operations.

ESG / Sustainability

FSC Korea Outlines Additional Green Finance Initiatives

29/01/2021

The FSC plans to draw up a climate risk management and oversight plan for FIs by March and develop a green taxonomy within H1.

AML / KYC

China Shuts Down Cross-border Gambling, Payments Platforms

20/01/2021

The Ministry of Public Security arrested over 75,000 suspects and shut down thousands of online gambling platforms, payment platforms and underground banks in 2020.

Fintech / Regtech

Australia: Xinja Bank Completes Return of Customer Deposits

19/01/2021

Australian neobank Xinja announced in December that would be exiting the market, just 15 months after receiving its licence.

ESG / Sustainability

Thailand SEC Declares Support for TCFD, Enhanced ESG Disclosures

18/01/2021

The move will lead to better disclosure of ESG information in the capital market, including information related to greenhouse gas emissions.

Korea Announces Additional Support to Covid-19 Hit Businesses

18/01/2021

The funding support includes additional support for small merchants, a new special lending programme, and additional funding for distressed asset manager KAMCO.