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China Construction Bank to Set Up Fund to Buy Property
By Editors | 27/09/2022
The CNY 30 billion fund will be used to buy property from developers and turn them into rental housing, supporting efforts to contain China’s real estate crisis.
AML / KYC
Deutsche Bank to Settle US Shareholder Lawsuit for $26m
By Editors | 27/09/2022
Shareholders said Deutsche Bank made false statements about its KYC and AML processes and caused losses to investors when its client list was made public.
Market Infrastructure
Australia: Optus Data Breach to Prompt Legislative Reform
By Manesh Samtani | 27/09/2022
Australian Prime Minister Anthony Albanese said the Optus breach was a “huge wake-up call” for the corporate sector.
ESG / Sustainability
Bursa Malaysia Updates Sustainability Reporting Framework
By Editors | 27/09/2022
By 2025, all Main Market listed issuers will be reporting TCFD-aligned disclosures and internalising climate change considerations in their business strategies.
Crypto / Digital Assets
RBA to Commence CBDC Pilot Tests Early Next Year
By Editors | 26/09/2022
The CBDC will be called eAUD. Industry participants are invited to propose CBDC use cases, and to participate in testing. Expressions of interest are due by 31 October.
Fintech / Regtech
HKMA Launches Fintech Training Subsidy Scheme
By Editors | 26/09/2022
The scheme will provide training subsidies to around 1,500 industry practitioners who have attained professional qualifications in fintech.
BOE, FCA to Consult on Removing Banker Bonus Cap
By Editors | 26/09/2022
The cap, which limits bonuses to twice basic salary, was introduced in the EU in 2014 to curb excessive risk-taking.
AML / KYC
AUSTRAC Releases Risk Assessment of Bullion Sector
By Editors | 26/09/2022
Personal income tax evasion was the most common suspected offence, linked to 52% of SMRs, though the associated values were low.
Capital / Liquidity
HKMA Amends Interest Rate Stress Testing Requirement
By Editors | 26/09/2022
Banks must stress test mortgage borrowers’ debt servicing ability assuming a 200 bps rise in the mortgage rate, rather than 300 bps.
AML / KYC
UK Introduces Economic Crime Bill to Parliament
By Editors | 26/09/2022
The Bill targets beneficial ownership transparency and will also make it easier for law enforcement to seize and recover cryptoassets.
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