Capital Adequacy

Hong Kong Published Basel III related Rules in Gazette

30/12/2023

The rules published in the gazette are to implement Basel III components including the revised credit risk framework and the output floor.

Conduct, Culture & Accountability

BNM Finalises Responsibility Mapping Framework for FIs

30/12/2023

A two-year transitional period, instead of one year as initially proposed, is provided before the responsibility mapping framework comes into effect.

Anti-Bribery & Corruption

China Passes Law to Raise Penalties for Bribery Offences

29/12/2023

The amended law, effective 1 March 2024, adds provisions to punish corruption crimes committed by insiders of private enterprises.

Anti-Bribery & Corruption

China: Former Banking Regulator Sentenced to Life in Prison

29/12/2023

Cai Esheng took more than CNY 407 million in bribes before he retired in 2013, and a further CNY 110 million afterwards.

CBDCs

Bank Indonesia to Trial Digital Rupiah in 2024

29/12/2023

Based on feedback to a Jan 2023 consultation paper, Bank Indonesia has decided to proceed with a series of experiments to develop a digital rupiah.

Anti-Money Laundering

China Call for Crackdown on Foreign Exchange Crimes

29/12/2023

The use of cryptocurrencies as a tool for foreign exchange trading is illegal in China, authorities said.

Anti-Bribery & Corruption

Former PBOC Official Sentenced to Over 16 Years Jail for Corruption

29/12/2023

The former head of the PBOC’s monetary policy department helped others obtain confidential information in return for illicit payments worth CNY 21 million.

Market Abuse

Shanghai Court Settles China’s First Securities Class Action Lawsuit

28/12/2023

The court ordered Essence Information Technology to pay more than CNY 280 million to a total 7,195 investors.

PEPs & Sanctions

Taiwan Expands Export Controls to Prevent Russian Use of High-Tech Goods

28/12/2023

Taiwan is expanding its export controls to take into account items found on the battlefield in Ukraine by international allies.