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Anti-Money Laundering
CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate
By Editors | 04/02/2021
The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.
Anti-Money Laundering
Philippines Enacts AML Amendments to Avoid FATF Grey List
By Ranamita Chakraborty | 04/02/2021
Offshore gaming operators, their service providers, real estate developers and brokers have been brought into scope as covered entities.
Market Abuse
Asian Regulators Issue Warnings as GameStop Remains in Focus
By Manesh Samtani | 04/02/2021
Authorities in Hong Kong, Singapore, Korea and Malaysia are among those issuing warnings of possible investor losses as heightened volatility continues.
Capital Adequacy
Korea Raises Capital Requirements at Private Equity Funds
By Editors | 04/02/2021
The minimum required capital will be raised from 100mn to 300mn won. Private equity funds with high leverage will need 500mn won.
Anti-Money Laundering
China: HNA Group Declares Bankruptcy, Reveals Embezzlement
By Editors | 03/02/2021
HNA Group has entered bankruptcy on the demand of creditors including Ping An Bank, Bank of Hainan, and Chang’an Bank.
Trading & Investment
FSC Korea to Allow Partial Resumption of Short-selling in May
By Manesh Samtani | 03/02/2021
By May, new rules will be in place to guard against illegal short selling, prevent abuse by market makers, and increase retail investor access to short-selling opportunities.
Market Abuse
CFTC Files Suit Against Nomura Trader for Manipulative Trading
By Editors | 03/02/2021
The former trader manipulated the price of 10-year swap spreads to reflect lower pricing of bonds and a related swap, at the expense of the issuer.
Custody & Infrastructure
Thailand to Introduce Rules for Digital Asset Wallet Providers
By Editors | 02/02/2021
The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.
Anti-Bribery & Corruption
China Punishes Former CBIRC Official for Corruption
By Editors | 02/02/2021
The ex-head of the CBIRC’s Shanxi bureau was expelled from the Communist Party and referred for criminal prosecution for suspected bribery.
Operational Risk
Myanmar Banks Reopen Amid Military-led State of Emergency
By Manesh Samtani | 02/02/2021
Some foreign banks have launched emergency safety measures, ordering employees to stay at home or halting operations indefinitely.
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