The former private banker forged signatures and documents to siphon off $10mn from client bank accounts between 2010 and 2013.
The Consumer Data Right Bill is needed for banks to be able to transfer their customers' personal data to another institution, a cornerstone of the open banking initiative.
The BCBS has assessed the implementation of the NSFR and large exposures framework in Australia and India to be 'compliant' with its standards.
Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.
The Ho Chi Minh City Stock Exchange has launched trading in covered warrants; the Hanoi Stock Exchange has launched a new government bond futures contract.
Leissner’s conduct in relation to the Malaysian state fund 1MDB called into question his fitness and properness to be a licensed person, the SFC said.
Concerned that oversight of increasingly complex core investment firms is now inadequate, the RBI has set up a working group to review its framework.
Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.
CMPs are issued by banks, offering higher yields than money market funds and promising a high level of liquidity, but there are no restrictions on how CMP funds can be invested.
Elephas Investment Management was found to have violated wheat futures speculative position limits established by the CFTC.