MARKET INFRASTRUCTURE

Market Infrastructure

India Designates IT Resources of ICICI, HDFC, NPCI “Protected Systems”

By Editors | 21/06/2022

Unauthorised persons securing or attempting to secure access to protected systems can be jailed for up to ten years and liable for a fine.

Fintech / Regtech

PBOC Accepts Ant Group’s FHC Licence Application – Report

By Editors | 21/06/2022

Ant Group is reportedly aiming to file a preliminary IPO prospectus as early as next month, subject to regulatory feedback on its financial holding company setup.

Market Infrastructure

LCH Extends Central Clearing for SORA Derivatives to 31 Years

By Editors | 21/06/2022

The extension will encourage further development of the SORA derivatives market and deepen liquidity in longer tenors of SORA OIS.

Securities / Derivatives

LME to Introduce New Reporting Requirements on 18 July

By Editors | 20/06/2022

A lack of transparency in OTC positions was a key reason the LME struggled to manage the turbulent nickel trading earlier this year.

Enforcement

RBI Releases Mastercard from Restrictions Imposed Last Year

By Editors | 20/06/2022

Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India’s data storage rules.

Crypto / Digital Assets

Korea: New FSC, FSS Chiefs to Prioritise Stability, Growth

By Mark Johnston | 20/06/2022

The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.

Securities / Derivatives

RBI Consults on Initial Margin Rules for Uncleared OTC Derivatives

By Manesh Samtani | 20/06/2022

VM rules were proposed in 2020 and will now take effect from 1 December 2022. IM rules are open for comment until 29 July 2022.

ESG / Sustainability

Key Role for Finance in China Climate Adaptation Strategy

By Darien Choong | 20/06/2022

China’s new National Climate Adaptation Strategy 2035 New Climate Adaptation Strategy encourages financial institutions to innovate and expand solutions.

Market Infrastructure

MAS Carries Out Cyber Resilience Exercise with French Regulators

By Editors | 19/06/2022

The joint exercise “fully confirmed” the ability of the MAS, BdF and ACPR to exchange and share information efficiently in times of crisis.