Market Infrastructure

Market Infrastructure

RBI Proposes to Directly Regulate Payment Gateways, Aggregators

By Editors | 19/09/2019

The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.

Enforcement

SAFE Blacklists FX Firms As Illegal Capital Outflows Increase

By Editors | 19/09/2019

SAFE has asked financial institutions to monitor for leveraged forex trading and blacklisted 43 FX firms amid signs that illegal capital outflows have been increasing.

Market Infrastructure

ACCC Chair Flags Lack of Competition in Retail Banking

By Editors | 19/09/2019

The ACCC’s Rod Sims said the lack of competition is not surprising in a market dominated by four players, where no other players have managed to make serious inroads to displace them.

Market Infrastructure

ISDA Consults on Final Parameters for Benchmark Fallback Adjustments

By Manesh Samtani | 19/09/2019

Based on the results, the 2006 ISDA Definitions will be adjusted to incorporate fallbacks for new IBOR trades, and a protocol for including fallbacks in legacy IBOR contracts will be published.

Securities / Derivatives

BIS Survey Reveals Rising Significance of Asian FX Hubs

By Manesh Samtani | 18/09/2019

Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.

Market Infrastructure

RBNZ, FMA Unimpressed by Insurers’ Inaction on Conduct Risk

By Editors | 18/09/2019

RBNZ governor Adrian Orr says the sector has failed to demonstrate the necessary urgency and prioritisation to provide effective governance and monitoring of conduct risk.

Market Infrastructure

Hong Kong Virtual Banks Likely to Delay Launch – Report

By Editors | 18/09/2019

Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.

Fintech / Regtech

Big Data: Who’s Writing the Rules of the Game?

By CorporateTreasurer | 17/09/2019

A recent whitepaper commissioned by Deutsche Bank looks at the need for effective regulations for cross-border data sharing and the ethical use of artificial intelligence.

Market Infrastructure

Korean Banks Boost Spending of Cybersecurity, IT: BOK

By Editors | 17/09/2019

Banks are increasingly relying on outsourcing for cloud computing, which may become a potential vulnerability if adequate precautions are not in place.