ADVERTISEMENT
Credit Risk
CBIRC to Grade Banks on SME Credit Provisioning
By Editors | 07/07/2020
The first evaluation of how effectively banks are providing financial services to SMEs will cover 2019, and be completed by 31 October 2020.
Anti-Bribery & Corruption
CBIRC Discloses List of ‘Illegal Shareholders’ of Banks, Insurers
By Editors | 06/07/2020
20 of the 38 companies on the list are linked to either Baoshang Bank or Anbang Insurance, which both needed a state bailout in recent years.
KYC & CDD
S. Korea Approves Use of Biometrics for Digital Identification
By Editors | 06/07/2020
Korea’s Fair Trade Commission has revised bank transaction law to allow the use of biometrics for identification in bank teller transactions.
PEPs & Sanctions
New Bill Could Ban Some Chinese Firms from US Capital Markets
By Editors | 06/07/2020
The bill would reportedly seek to ban Chinese companies that engage in spying or human rights abuse, or support China’s military or industrial policy.
Anti-Money Laundering
Spanish Court Penalises Four ICBC Employees for AML Violations
By Editors | 06/07/2020
Criminal groups deposited millions of euros cash into accounts at ICBC Spain using split payments, in-house accounts and false identity documents to evade detection.
Market Abuse
ASIC Penalises Credit Suisse for Breaching Trading Rules
By Editors | 05/07/2020
Credit Suisse did not match client orders for on-market buy-backs on an order book as is required by ASIC’s market integrity rules.
Fraud, Scams & Cybercrime
Nearly 500,000 Australians Deplete Retirement Savings
By Editors | 05/07/2020
Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.
PEPs & Sanctions
Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’
By Editors | 05/07/2020
Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.
Fraud, Scams & Cybercrime
S. Korean Regulators to Probe All Private Fund Operators
By Manesh Samtani | 04/07/2020
A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for ‘swift action’ including prosection.
Anti-Money Laundering
Singapore Authorities Probe Two Companies with Wirecard Links
By Editors | 04/07/2020
Citadelle Corporate Services is said to have handled Wirecard monies without a trust business licence. Senjo Group is said to have falsified accounts.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.