Credit Risk

China May Transfer Huarong to Sovereign Wealth Fund – Report

16/04/2021

Huarong’s failure to publish its earnings by its 31 March deadline has prompted concerns of a default by China’s largest distressed debt manager.

CBDCs

Privacy Cited as Top Concern for a European CBDC

15/04/2021

ECB survey respondents cited privacy as the top priority feature for a potential digital euro, followed by security and usability across the euro area.

Reporting & Disclosures

US SEC Warns of Misleading Statement Regarding ESG Investing

14/04/2021

Many financial firms may be offering ESG products only because it is lucrative to do so, says SEC commissioner Hester Peirce.

Supervision & Enforcement

BaFin Faces Criminal Probe Over Wirecard Response

14/04/2021

BaFin has been under fire since mid-last year for failing to properly respond to multiple red flags signalling an accounting fraud at Wirecard.

Trading & Investment

US SEC Identifies Accounting Issues with SPAC Listings

14/04/2021

Some warrants issued to early SPAC investors may have been recorded as equity instruments when they should have instead been recorded as liabilities.

Trading & Investment

China: SAFE Approves $5b in QDLP Quotas for Hainan

14/04/2021

The QDLP pilot programme will enable foreign fund managers to raise money in Hainan for investments overseas.

Operational Risk

Nomura Establishes Internal Team to Probe Archegos Loss

13/04/2021

Nomura has set up the team to look into the bank’s risk management practices. It plans to disclose details of Archegos loss in late April.

Reporting & Disclosures

New TSE Chief Eyes ESG Focus In Reorganisation Plan

12/04/2021

Chief executive Hiromi Yamaji says the TSE will urge companies to step up efforts on ESG issues based on their market classification.

Structural Regulation

JD Digits to Set Up Financial Holding Company: Report

12/04/2021

The financial holding company will be separate from JD Digits’ other technology businesses, and is aimed at achieving compliance with new rules for China’s fintech sector.