AML / KYC

Urgent Action Needed to Prevent Misuse of Virtual Assets – FATF

23/10/2018

There is an urgent need for all jurisdictions to take coordinated action to prevent the use of virtual assets for crime and terrorism, the FATF said.

Market Infrastructure

Banks Team Up to Develop Digital Trade Finance Network

23/10/2018

The ‘Trade Information Network’ is expected to be production-ready by Q3 2019, representing the “first inclusive global multi-bank, multi-corporate network in trade finance”.

Market Infrastructure

SWIFT gpi Instant Cross-Border Payments Trial Hailed a Success

22/10/2018

All payments during the trial were processed end-to-end within 60 seconds, demonstrating the service’s capabilities to scale and integrate with other real-time payment systems.

Securities / Derivatives

China’s Top Regulators Restore Market Confidence with Vow of Support

22/10/2018

The PBOC, CBIRC and CSRC issued statements announcing new measures to support China’s market after equities fell to their lowest levels since May 2014.

Fintech / Regtech

Japan FSA Updates Financial Sector Cyber Policy

21/10/2018

Japan’s financial infrastructure may come under attack in the lead-up to the 2020 Tokyo Olympics, the FSA says as it prepares to guard against potential large-scale incidents.

Enforcement

ASIC Will Use Every Power Available to Punish Dishonest Behaviour – Shipton

19/10/2018

The Royal Commission has reinforced that the financial industry has abandoned its core role of being custodians of other peoples’ money, said ASIC chair James Shipton.

Securities / Derivatives

Japanese Brokers to Seek TSE Compensation for Trading Glitch

19/10/2018

Up to 40 brokerages face billions of yen in potential losses on over 100,000 retroactive trades they are duty-bound to make after trading was halted last week due to a connection failure.

Market Infrastructure

DLT Can Process Peak Equity Trading Volumes – DTCC

18/10/2018

The results of the study prove that distributed ledger technology’s performance can scale to meet the needs of markets of different sizes and maturity, says DTCC’s Murray Pozmanter.

Fintech / Regtech

RBI Issues Guidelines Enabling Interoperability Between Payment Systems

17/10/2018

E-wallet providers can use the state-backed UPI network to make their wallets interoperable with other payment platforms, which will in time include banks and card networks.