Joint report from ISDA, AFME, ICMA and SIFMA shows almost 90% of respondents concerned about exposure to interbank offer rates; close to 80% looking to transition away in the next four years.
Banks instruct banks and white-label ATM operators to upgrade ATM security in a phased manner until June 2019, threatening enforcement action for noncompliance.
RBI releases draft rules which would require the use of LEIs for non-derivatives transactions, having already announced a phasing in for OTC derivatives markets.
Progress report shows only only three G-SIBs have achieved full compliance with Principles for effective risk data aggregation and reporting; complexity and interdependence of IT improvement projects cited as main challenges.
The latest Eurozone bailout has effectively sentenced the country to a generation of vassalage, creating a financial serfdom. Weak growth and regulatory shortcomings will only invite the next crisis.
The RBI requires the quoting of permanent account numbers for all transactions. It has also tightened the definition of “close relative” for funds sent for the “maintenance” of close relatives under its remittance regulation.
The six month transition period put in place in December 2017 to allow firms to obtain LEIs to comply with MIFID will end on 2 July 2018, as ESMA rules out any extensions in a new statement.
MAS board member Ong Ye Kung pledges to eliminate cheque usage by 2025, while also reducing the need for ATM cash withdrawals, through increased adoption of e-payments.
The HKMA and its new regulations fail to recognise that virtual banking has long existed. Redundant and irrelevant rules only hold back fintech development in Hong Kong.
Cambodia’s securities regulator has started accepting applications for licences for fund managers, distributors, administrators, trustees, among other CIS-related activities.
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