Anti-Money Laundering

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.

Anti-Bribery & Corruption

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.

Cryptocurrency

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.

Structural Regulation

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.

Cryptocurrency

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.

Structural Regulation

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.

Sustainable Finance

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.

CBDCs

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.

Payments & Settlements

ASIC Proposes Updates to Modernise ePayments Code

25/05/2021

ASIC proposes to add flexibility to the code to allow it to tailor data requests based on priorities and issues of concern.