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Market Infrastructure
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.
Market Infrastructure
HKMA Directs Banks to Enhance Protections for Payment Card Customers
By Sanday Chongo Kabange | 21/06/2023
Banks are directed to comply with new guidance by end June 2023. For enhancements that require system changes, banks should comply within six months.
Crypto / Digital Assets
BIS Offers Blueprint for Future Monetary & Financial System
By Editors | 21/06/2023
The BIS says the future financial system will combine tokenised money and assets on a programmable platform.
Capital / Liquidity
BOE to Include Hedge Funds, Pension Funds in Scenario Exercises
By Editors | 20/06/2023
The system-wide exploratory scenario will encompasses hedge funds and pension funds alongside large banks, insurers, and CCPs for the first time.
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