MARKET INFRASTRUCTURE

Big Picture

US Move to T+1 Settlement Poses Systemic Risk to Europe

By Mark Johnston | 20/03/2024

EFAMA says in a policy paper that the US move to a T+1 settlement cycle could dmea European fund managers would be unable to meet CLS cut-off times.

Market Infrastructure

FSS Korea Unveils New Initiatives to Boost Industry’s Cyber Resilience

By Editors | 19/03/2024

The FSS will establish an “autonomous security system” that FIs will be able to use to conduct IT audits and self-inspections to identify security threats.

Securities / Derivatives

Japan FSA Sends Bill to Parliament to Boost Capital Market

By Editors | 19/03/2024

The bill will enable asset managers to outsource middle and back office operations and facilitate the development of a market for unlisted securities.

Market Infrastructure

FSB Updates Guidance on Operational Continuity in Resolution

By Manesh Samtani | 19/03/2024

A supplementary note was added to address today’s dependencies on third-party providers for critical shared services, and the digitalisation of such services.

Big Picture

Emerging Tech is Raising Cyber Risk in Financial Industry – Report

By Mark Johnston | 18/03/2024

A new IIF-McKinsey report offers a roadmap for mitigating cyber risks amidst the rapid adoption of emerging technologies in finance.

Fintech / Regtech

China UnionPay Launches Project to Optimise Payment Services

By Editors | 18/03/2024

China UnionPay will spend CNY 3 billion on acceptance terminal upgrades, signage placement and publicity in key cities.

Enforcement

CSRC Unveils New Policies for Boosting Stock Market Quality

By Manesh Samtani | 18/03/2024

The policies tighten the rules for IPO applicants, increase oversight of listed companies, and impose obligations on brokers and investment banks.

Securities / Derivatives

SEBI to Scale Back Launch of Optional T+0 Settlement Cycle

By Ajoy K Das | 18/03/2024

SEBI said the “beta version” of the optional T+0 settlement system has been approved by its board, but only for a “limited set of 25 scrips” and “with a limited set of brokers”.

Big Picture

BIS Paper Calls for Stronger Oversight of Non-bank Retail Lenders

By Mark Johnston | 17/03/2024

The paper proposes a three-pronged regulatory approach to help guide the prudential oversight of NBFI retail lenders and mitigate risks.