Cloud & Infrastructure

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.

Anti-Money Laundering

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.

Custody & Infrastructure

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.

PEPs & Sanctions

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.

Operational Risk

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.

Conduct, Culture & Accountability

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.

Conduct, Culture & Accountability

FMA Warns Fund Managers Not to Mislead Investors

22/04/2021

The FMA has directed fund managers not to advertise performance which only includes the recovery after March 2020.

Resolution & Recovery

New Zealand to Introduce Deposit Guarantee Scheme by 2023

22/04/2021

The NZBA’s Roger Beaumont says banks should pay lower levies compared to non-bank deposit takers because they are less likely to call on the scheme.

Resolution & Recovery

Close-out Netting Can Be Guaranteed in Resolution: CBIRC

22/04/2021

Recent bankruptcies by FIs have “fully proved” that close-out netting can be guaranteed in the resolution stage, a CBIRC official said at ASIFMA’s China Capital Markets Week.