Market Infrastructure

Market Infrastructure

FSC Korea Approves Financial Hub Development Plan

By Sanday Chongo Kabange | 23/06/2023

The financial hub development plan outline measures the FSC will undertake to promote financial hubs in South Korea.

Market Infrastructure

RBA Consults on Options for Enhancing Debit Card Market

By Sanday Chongo Kabange | 23/06/2023

The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.

Market Infrastructure

CFTC to Propose Rule on Operational and Cyber Resilience

By Editors | 23/06/2023

CFTC commissioner sees a need for the industry to shift “from incident response to cyber resilience”. New rule will be proposed in the next few months.

Market Infrastructure

FSC Korea Designates KOFIA as CD Rate Administrator

By Sanday Chongo Kabange | 23/06/2023

With KOFIA designated as the administrator, the CD rate will begin to have legal effect as a critical benchmark rate starting on 2 October.

Market Infrastructure

Philippines Sets Temporary Replacement Rate for LIBOR

By Editors | 23/06/2023

The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and “credible” yield curve will be developed by January 2024.

Fintech / Regtech

FSB Consults on Third-Party Risk Management Toolkit

By Editors | 23/06/2023

The toolkit has been developed amid a growing reliance on third-party service providers for critical financial sector operations.

Market Infrastructure

Korea Set to Update Rules to Support Overseas Expansion by Financial Firms

By Sanday Chongo Kabange | 22/06/2023

The FSC said its regulatory overhaul will make it easier for Korean financial firms to acquire, establish, invest in, and operate overseas subsidiaries.

Enforcement

SEBI Settles With NSE Over 2021 Trading Glitch

By Editors | 22/06/2023

NSE and NSE Clearing have to pay a combined $8.9mn to end proceedings over a 2021 glitch that cause a complete trading halt for over three hours.

Market Infrastructure

CSRC Issues Guidelines to Improve Bond Registration System

By Editors | 22/06/2023

The guidelines streamline the debt issuance process, enhance information disclosure requirements, and tighten the responsibilities of issuers and intermediaries.