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China - February 17 2010
The Supreme People's Court and the Supreme People's Procuratorate announced a judicial interpretation that clarifies several Criminal Law articles concerning credit card fraud.
Hong Kong - February 17 2010
In November 2009 the Hong Kong Monetary Authority (HKMA) suspended an employee of DBS Bank (Hong Kong) Limited for 3 months for (i) failing diligently to disclose and explain to a client the product's risk, and (ii) failing to complete the risk disclosure statement for the client in accordance with the bank's internal control procedures.
Hong Kong - February 17 2010
Hang Seng Bank and Bank of East Asia are amongst the first banks in Hong Kong to set up sub-branches in Foshan under the new Sixth Supplement to the Mainland and Hong Kong Closer Economic Partnership Arrangement (CEPA).
China, Macau - February 17 2010
On 14 December 2009 The People's Bank of China expanded the scope for banks to conduct personal Renminbi banking services and cross-border Renminbi trade settlement businesses in Macau.
China - February 17 2010
In November 2009 the Supreme People's Court announced a judicial interpretation that partially reverses the burden of proof for the "knowledge" element (similar to mens rea at common law) in money laundering offences.
