Switzerland could turn the scales in 1MDB scam

Swiss financial regulator FINMA said on August 19 that it will check with some of the country’s banks on whether they carried out any business with 1MDB and whether fishy transactions were involved.


China pumps $23bn into banks

The People's Bank of China provided 110 billion yuan ($A23.4bn) to 14 financial institutions through its medium-term lending facility to maintain liquidity in the banking system


Goldman Sachs's unit obtains Hong Kong banking license

A wholly-owned unit of Goldman Sachs Group received a banking license from The Hong Kong Monetary Authority (HKMA), the HKMA announced on Wednesday, in a step that creates a local subsidiary through which the U.S investment bank can book its trades.


ICBC chairman welcomes fintech regs

The rules stipulate that client funds be held at recognised banks, that traditional bank accounts be used to channel large payments, and increased the disclosure requirements for online lending or crowdfunding platforms.