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.

Emerging Prudential Risks

BOJ Warns of Post Covid Risks to Financial Stability

21/04/2021

Even after the pandemic subsides, low interest rates will continue to exert downward pressure on FIs’ profits, the BOJ says.

Trading & Investment

IIF Calls for Stricter Disclosure, Accounting Rules in A-Share Market

21/04/2021

Despite the attractiveness of Chinese equities, foreign ownership remains lower than in other major markets at 4.3 percent.

Fraud, Scams & Cybercrime

Mirae Asset Sues Shinhan Over Lime Fund Losses

21/04/2021

Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime’s credit insured funds.