Enforcement

SEBI Probes Software Misuse by NSE Trading Members

09/07/2023

Some high-frequency traders reportedly used special software that enabled them to submit orders to NSE without paying transaction fees.

Sanctions

UK to Strengthen Sanctions Regime to Target Iran

09/07/2023

The move is a response to “more than 15 credible threats” by the Iranian regime to “kill or kidnap British or UK-based individuals”.

Crypto / Digital Assets

NYIC, US Banks Conclude PoC to Test Digital Money Platform

09/07/2023

The PoC tested a theoretical CBDC and bank deposit tokens on a shared multi-entity distributed ledger to enable domestic and cross-border payments.

Capital / Liquidity

RBI Extends Deadline for Co-op Banks to Meet PSL Targets

09/07/2023

“This action is taken in response to the implementational challenges experienced by these financial institutions,” the RBI said.

Fintech / Regtech

RBI Considers Developing Regulatory Framework for Fintechs

07/07/2023

Deputy governor T Rabi Sankar Sankar indicated the RBI is committed to ensuring the fintech industry is provided adequate space to grow.

Crypto / Digital Assets

DBS Launches e-CNY Merchant Collection Solution

07/07/2023

DBS plans to build on the launch of the e-CNY solution to explore new digital payment solutions, including cross-border CBDC payments.

Crypto / Digital Assets

FSC Korea to Require Employees to Report Crypto Holdings

07/07/2023

Employees that perform official duties related to the virtual assets sector will have to report their holdings to the FSC.

Enforcement

Former London Trader Allowed to Appeal LIBOR Rigging Conviction

07/07/2023

Tom Hayes was the first person to be convicted of rigging LIBOR. He was released from jail in 2021 after serving half of an 11-year sentence.

Market Infrastructure

EBA Publishes Validation Requirements for Initial Margin Models

06/07/2023

The standards include a “pragmatic and simplified” supervisory procedure applicable to smaller counterparts as well as easier documentation, governance and outsourcing requirements.