Flash News

TREE NEWS update: Hong Kong’s Securities and Futures Commission said taking effective action against serious misconduct helps consolidate market confidence, responding to recent cases in which IPO subscription demand for ChaPanda and Cloudbreak Vision was artificially manipulated and trading was suspended. The SFC said a fair and trustworthy market attracts quality issuers and investors, supporting the long-term development and competitiveness of Hong Kong’s capital market, and it will continue targeted, proportionate enforcement in cooperation with the Stock Exchange and market participants.

TREE NEWS update: Xinyuren said it and its actual controller Yang Zhiming received a case-filing notice from the China Securities Regulatory Commission on October 13, 2026, over suspected violations of information disclosure laws. The CSRC has opened a formal investigation into the company and Yang. Xinyuren said its operations and business are running normally and that it will actively cooperate with the regulator.

TREE NEWS reports: A French proposal would require crypto owners to report holdings worth more than €100,000 (about $112,000), drawing backlash from the crypto industry. Critics raised concerns about personal safety after a wave of “wrench attacks” targeting crypto holders in France.

TREE NEWS reports: The Financial Stability Board told G20 finance chiefs that cross-border rules for handling a stablecoin failure remain unsettled and flagged heightened run risk in coins issued by affiliated companies across several countries. The warning was delivered in a note to the group’s finance ministers and central bank governors. The FSB did not name specific issuers.

TREE NEWS update: Henan’s Local Financial Administration issued trial rules for supervising financial leasing companies, raising the minimum registered capital to 200 million yuan or equivalent foreign currency. The rules list 14 prohibited business activities and bar roads, bridges and other structures as eligible leased assets, closing a channel for hidden local government debt.

TREE NEWS update: Chinese fraud victims seeking to recover 61,000 seized Bitcoin suffered a legal setback after a UK court ruled that Chinese law governs their claims. The decision determines which jurisdiction’s law applies to the victims’ effort to reclaim the cryptocurrency, which was seized in the UK. The court did not rule that the victims are entitled to the Bitcoin.

TREE NEWS update: China’s Permanent Representative to the WTO, Li Yongjie, presented the proposal “Further Reflections and Suggestions on WTO Reform” at a WTO special session on the “fundamental issues” of reform held on the 12th. Li set out China’s positions on the challenges facing the WTO, the goals of reform and the principles that should be upheld, drawing broad attention and positive responses from participating parties.

TREE NEWS reports: France’s top financial regulator said French banks’ exposure to the country’s public debt remains limited and does not pose a financial stability risk even if government bond yields spike. ACPR secretary-general Emmanuelle Assouan said at a Paris press conference that the watchdog is “quite reassured” about the impact of recent sovereign spread moves on banks. ACPR reported French banks held about €190 billion ($213 billion) of domestic public debt in 2025, 24% of their total sovereign holdings and 2% of total assets.

TREE NEWS update: Hong Kong’s Securities and Futures Commission said it has taken action against two groups suspected of participating in a fraudulent scheme to create a false or misleading appearance of demand for shares in an initial public offering, and has directed the Hong Kong Stock Exchange to suspend trading in ChaPanda (02555.HK) shares from 9:00 a.m. today. The SFC said it is highly concerned that ChaPanda’s IPO may have been artificially manipulated to create an untrue picture of demand for the shares, and that the suspension is necessary or appropriate to maintain an orderly and fair market while its investigation continues.

TREE NEWS update: Federal Reserve Governor Christopher Waller said on October 13 that President Donald Trump poses a threat to the Fed’s independence, but has so far not succeeded in undermining it. Waller said he believes Congress and the courts will protect the central bank’s independence.

TREE NEWS update: China’s State Administration for Market Regulation on Thursday published seven typical cases of illegal advertising that violated content guidelines. Among them, the Shanghai Municipal Market Regulation Bureau handled cases against Shanghai Manlun Trading Co. and Guangxi Shunshi Information Technology Co. The two companies were fined a combined total of more than 1 million yuan over an advertisement for Dettol that objectified women.

TREE NEWS update: Agricultural Development Bank of China, Bank of China, China Merchants Bank, Bank of Shanghai, Beijing Rural Commercial Bank and other Chinese lenders have jointly announced an extension of the large-value payment system’s operating hours under a People’s Bank of China arrangement. The PBOC Clearing Center said in July that from Oct 17, 2026, service hours will expand from 5×21+12 hours to 5×22.5+13.5 hours.

TREE NEWS update: A7 International is advertising a USDT-to-SWIFT payment service charging a 0.3% fee with payouts in four currencies, despite being under sanctions. The company’s public materials do not name the banks that would execute the transfers.

TREE NEWS reports: Three US banking regulators are questioning banks about their use of advanced AI models, including whether they rely on technology developed in China, whether AI agents are used for cyber defense, and whether increasingly autonomous systems can be controlled. The OCC, FDIC and Federal Reserve are also asking banks what limits the systems have, how bank operations are observed and approved, and whether the banks can clearly trace and audit AI agents’ choices.

TREE NEWS update: China’s foreign ministry said on October 13 it had no information about a claim by the US embassy in Fiji that a China-linked hacking group attacked Fiji’s networks. Spokesperson Mao Ning told a regular press briefing that Beijing consistently opposes and legally cracks down on hacking, and rejects using cybersecurity issues to smear China.

TREE NEWS update: A court in Fujian province sentenced three defendants — Wei Huairen, Chen Dawei and Liao Jingfang — to death in the first-instance verdict of the Wei family crime syndicate case linked to scam operations in Myanmar. Quanzhou Intermediate People’s Court and Nan’an People’s Court also handed life terms to Wei Qingtao, Kang Min and Xiong Hengxing, and prison terms of 24 years to three years and three months for 55 others, with fines, asset confiscation and deportation orders.

TREE NEWS update: China’s central bank has approved Visa to prepare a bank card clearing institution in the country. The approval moves the global payments network a step closer to operating a domestic bank card clearing business in China. No further details on the timeline or scope of the preparation were disclosed.

TREE NEWS reports: Bank of England Monetary Policy Committee member Greene said successive waves of inflation are shifting behaviour patterns, in comments published on Wednesday. Greene, an external member of the rate-setting committee, did not specify which behaviours or which measures of inflation expectations he was referring to. The remarks come as the MPC weighs how persistent price pressures are feeding into wage-setting and spending decisions.

TREE NEWS update: South Korean authorities moved to block access to 27 crypto websites, including exchanges KuCoin and MEXC, targeting platforms operating without local registration. Regulators acknowledged customers could have difficulty withdrawing assets from the affected platforms. The restrictions are aimed at unregistered exchanges.