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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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