Cabinet-approved legislative revisions will introduce an OTC derivatives reporting requirement, a licensing system for trade repositories, and penalties for circumventing margin rules.
The automatic exchange of information by tax authorities in nearly 100 countries uncovered data on 84 million accounts held offshore in 2019.
APRA is putting more than a dozen MySuper trustees on notice that it is considering enforcement action against those that continue to underperform on fees.
Prudential and AML/CFT supervisors should establish an effective cooperation mechanism regardless of the institutional setting, the updated guidelines say.
The PBOC has cut the rediscount rate for the first time in a decade, and the relending rate for the second time this year.
The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.
SocGen failed to pay client money into segregated authorised bank accounts and made payments out of a client money account that were not permitted.
Standardised notes will be considered money market instruments, backed by commercial paper which generates cash flows for distribution to investors.
The maximum annual interest rate will be limited to 6%, compared to 24% under the current law. Maximum penalties will also be raised.
India has revised its framework for levying the stamp duty on securities transactions, in a bid to ensure uniformity across the country.