This week's risk management news includes Chinas’ FDI regulations, Basel Committee’s new secretary general, and $337m seizure in UniCredit probe.
October 19, 2011 | The Asian Banker Editor
China issues regulations on FDI with RMB settlement
The People's Bank of China has issued regulations about foreign direct investment (FDI) settled in Rmb. Foreign institutional and individual investors will be able to apply for permits to make direct investments in China with the settlement of Rmb, on the condition that their investments are in line with China's current laws and regulations.
Basel Committee announces Wayne Byres as its next secretary general
The Basel Committee announced today the selection of Mr Wayne Byres, an executive general manager of the Australian Prudential Regulation Authority (APRA), as its next Secretary General. Byres is currently responsible for the supervision of large complex banks in APRA, a post he has held for the past seven years.
Italian Police Seize $337 Million From UniCredit in Probe
Italian police seized €245 million ($336.6 million) from UniCredit bank as part of an investigation into whether employees of the Milan-based bank committed tax fraud by buying complex financial products from U.K. bank Barclays.
Re-disseminated by The Asian Banker
Categories:
Risk And Regulation Working GroupKeywords:People's Bank Of China, Basel Committee, UniCredit
