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Structural Regulation
CBIRC Evaluates Corporate Governance at Non-bank Institutions
By Editors | 07/02/2021
Some financial leasing, enterprise group finance, auto finance, and consumer finance companies have been unwilling or unable to enhance governance and internal controls.
Emerging Prudential Risks
Korea: FSC Financial Sector Focus to Include Risk, Competition, Innovation
By Sanday Chongo Kabange | 07/02/2021
The FSC’s 2021 policy agenda for the financial sector will include measures to bolster risk management while also strengthening competitiveness and facilitating digital innovation.
Structural Regulation
Greater Bay Regulators Sign MoU on Wealth Management Connect
By Manesh Samtani | 07/02/2021
The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.
Trading & Investment
UPDATED – HKEX to Acquire Stake in Guangzhou Futures Exchange
By Editors | 07/02/2021
The move, being the first-ever equity investment in a mainland futures exchange by a non-mainland investor, will help HKEX promote green and low-carbon markets across the region.
Payments & Settlements
Cambodia Officially Launches New Retail Payments System
By Ranamita Chakraborty | 05/02/2021
The development of the new system, known as Retail Pay, was backed by a $8mn grant from the Korea International Cooperation Agency.
Operational Risk
FSC Penalises Citibank Taiwan Over Reporting Errors
By Editors | 05/02/2021
The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.
Structural Regulation
CBIRC Issues Draft Guidelines on Corporate Governance
By Editors | 05/02/2021
The guidelines formalise obligations for banks and insurers to integrate Communist Party leadership in the governance of state-owned and private banks and insurers.
Structural Regulation
LINE Bank Taiwan Granted Digital Bank Operating Licence
By Editors | 04/02/2021
LINE Bank could launch trial operations as soon as mid-March, with a view to launching full operations within the first half of the year.
Supervision & Enforcement
Korea FSS to Punish Top Woori, Shinhan Executives – Report
By Editors | 04/02/2021
Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.
Tokenisation
SBI, Sumitomo Mitsui to Launch Digital Stock Exchange in Osaka
By Ranamita Chakraborty | 04/02/2021
The Osaka Digital Exchange, expected to launch in 2022, will provide an alternative to the TSE and strengthen Osaka’s proposition as a financial hub.
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