MARKET INFRASTRUCTURE

    AML / KYC

    UPDATED – Bangladesh Bank Files New York Lawsuit over Cyber Heist

    By Editors | 04/02/2019

    Bangladesh Bank has filed a $66mn lawsuit against Philippines-based RCBC and others over the 2016 bank heist, where hackers stole $101mn from its account with the New York Fed.

    Enforcement

    PBOC Sets Up New Bureau to Oversee Financial Regulation

    By Editors | 04/02/2019

    China’s central bank has set up a new macro-prudential management bureau to monitor financial systemic risks, draft rules and advise on currency issues.

    Market Infrastructure

    Asia Region Funds Passport Goes Live

    By Editors | 03/02/2019

    Japan, Thailand, Australia ready to receive applications from prospective ARFP funds; New Zealand, S. Korea making progress on legal and regulatory requirements.

    Fintech / Regtech

    SWIFT to Test New Gateway Enabling gpi for E-commerce

    By Editors | 01/02/2019

    The proof-of-concept will enable gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation for on trade platforms.

    Market Infrastructure

    Insurance a Critical Part of Cyber Risk Response – MAS

    By Manesh Samtani | 01/02/2019

    Only 6% of global cyber insurance premiums come from APAC, said MAS division head Elean Chin at the launch of a new report which reveals the inadequacy of cyber risk preparedness.

    Market Infrastructure

    MAS Extends Deadline to Implement E-payments User Protection Guidelines

    By Editors | 01/02/2019

    The MAS is allowing an extra six months for compliance with its e-payments user protection guidelines, following requests from banks for more time to implement system changes.

    Market Infrastructure

    Bloomberg Indices to Include Chinese Local Currency Bonds from April

    By Editors | 01/02/2019

    The Bloomberg Barclays Global Aggregate Index will phase in Chinese government bonds and policy bank securities over 20 months, starting from April 2019.

    Market Infrastructure

    China to Expand Scope, Ease Requirements for QFII, RQFII Schemes

    By Editors | 01/02/2019

    New rules propose consolidating the QFII and RQFII into a single scheme, expanding the scope of investment products allowed and easing qualifying requirements for applicants.

    Market Infrastructure

    India Finance Ministry to Have Greater Say in SEBI Rulemaking

    By Editors | 31/01/2019

    SEBI regulations may need to be vetted through a separate independent committee constituted by the Ministry of Finance before being passed to the regulator’s own board for approval.

    Market Infrastructure

    Regulatory Fragmentation Heightens Derivatives Market Risk – ISDA

    By Manesh Samtani | 31/01/2019

    Policymakers should reduce the gap between national regulations and global standards, and adopt a risk-based framework for the recognition of comparable regulatory regimes.

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