The FSC will accept applications again during Q3 this year. Kiwoom Bank and Toss Bank can address their shortcomings and resubmit their applications.
From within the sandbox, iSTOX is currently onboarding the first batch of issuers and investors who will participate in issuance and trading of digitised securities starting in 4Q 2019.
The paper classifies machine learning systems into 12 types and discusses the vulnerabilities, threats and corresponding countermeasures for each, focusing on the financial sector.
Herbert Smith Freehills says the HKMA push for adoption of the Ethical Accountability Framework in FinTech development represents a broader movement toward regulating artificial intelligence.
The UK initiative is exploring the use of technology to help firms meet their regulatory reporting requirements and improve the quality of information reported.
SEBI's sandbox framework for capital markets innovation comes just weeks after the RBI released its own sandbox framework for banking and payment services.
The launch comes as funds globally experience significant margin pressures, and amid a need for reduced frictions in cross-border distribution of funds.
The HKMA is addressing culture and conduct risk by learning from other markets, engaging with other regulators, and exploring new technology, say Jeff Kupfer and Stephen Scott at Starling Trust.
Only Basel I rules will apply for the first three years after launch. Basel III will be phased in from the fourth year onwards, including NSFR and the leverage ratio.
Robo-advisory services will have to undergo testing and verification before they can be used to directly manage funds and entrusted assets under new enabling FSC regulations.