The bank says its employees did not adversely impact the BBSW as ASIC claims, denies AUSTRAC allegations of systemic AML noncompliance.
Cryptocurrency exchanges are required to fully identify all customers and monitor for money laundering and terrorist financing activities.
Punjab National Bank says $1.8bn fraud went undetected because staff failed to enter SWIFT instructions in core banking software.
Applicants will need to demonstrate capability and competency to provide robo-advice while ensuring consumer protection.
FSS governor says government will support ‘normalised trading’ of cryptocurrencies, requiring interaction of banks and crypto exchanges.
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
New products will allow SGX participants to maintain exposure to India’s capital markets, following the decision to stop issuing market data licenses to overseas exchanges.
Self regulatory organisation will create rules and set penalties for breaches of self-imposed rules.
Private banks, merchant banks can invest on behalf of FPI clients; pre-approval requirement for switching local custodian effectively scrapped.