The EBA has identified four key pillars necessary to support the rollout of advanced analytics in the banking sector, along with a set of ‘elements of trust’.
The rule will be stricter than the 4x leverage limit imposed by the Japan Virtual Currency Exchange Association, the industry's self-regulatory organisation.
The framework will enable foreign banks in China to set up separate digital banking platforms, while also covering existing online-only banks WeBank, MYbank and AiBank.
Regulation Asia sat down with Nice Actimize's Jerome Lambert to understand how a holistic approach has improved surveillance capabilities and reduced the burden on compliance analysts.
The new penalty for violations will be capped at 500,000 rupees, or double the amount of contravention, whichever is higher.
TONIK Digital Bank will be the first "pure-play" digital bank in Southeast Asia, focusing on retail deposits and consumer loans.
ISDA, Clifford Chance, R3 and the Singapore Academy of Law have published a new whitepaper analysing the legal issues relating to the use of smart derivatives contracts on a distributed ledger.
The bills allow the commercial use of unidentified individuals without seeking their consent. A new data exchange will be launched in March.
Phase two of the DRR pilot highlighted the importance of agreed data standards. An appropriate solution for producing machine-executable regulation has not yet been identified.
Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.