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MARKET INFRASTRUCTURE
Market Infrastructure
FSC Korea Seeks Reforms on Performance-based Pay
By Editors | 23/04/2023
The reforms include expanding the use of malus and clawback of deferred pay and requiring disclosures of the amounts paid to individual executives.
Fintech / Regtech
DBS Formed a Special Committee to Oversee Probe into March Outage
By Editors | 22/04/2023
Senior minister said the November 2021 and March 2023 incidents at DBS appear unrelated, but that the bank’s new special committee will determine if there are “common underlying weaknesses”.
Market Infrastructure
RBA to Undergo Overhaul Following Comprehensive Review
By Editors | 21/04/2023
The review report suggests splitting the RBA’s board into a monetary board and a corporate governance board.
AML / KYC
European Parliament Gives Final Approval on MiCA Law
By Manesh Samtani | 21/04/2023
MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.
Market Infrastructure
CFETS Invites Foreign Investors to Apply for Membership
By Editors | 20/04/2023
Foreign institutional and central bank-like investors investing in China’s bond market can apply to become CFETS members and participate in the FX market.
Fintech / Regtech
Financial Sector Participating in Global Cyber Defence Exercise
By Editors | 20/04/2023
FS-ISAC member firms including Barclays, CME Group, Mastercard and Santander are participating in the so-called ‘Locked Shields’ exercise this year.
Crypto / Digital Assets
BIS, BOE Unveil Findings from Payments Synchronisation Project
By Manesh Samtani | 19/04/2023
Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.
Crypto / Digital Assets
Australia Considers Outright Ban on Ransom Payments
By Mark Johnston | 19/04/2023
The ACSC recommends that victims of ransomware attacks never pay a ransom. The government is considering a law prohibiting attack victims from paying ransoms.
Market Infrastructure
NSE IFSC-SGX Connect to Fully Launch on 3 July
By Editors | 18/04/2023
SGX will migrate all open positions in SGX Nifty to the relevant NSE IFSC NIFTY contracts during the weekend of 30 June.
Market Infrastructure
BOE, CFTC Strengthen Supervisory Cooperation on CCPs
By Editors | 18/04/2023
The Bank of England will rely on the CFTC for supervision and oversight of US-based CCPs offering clearing services in the UK.
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