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Enforcement
UniCredit China Employee Embezzled $15mn of Client Money
By Editors | 10/04/2019
The employee allegedly used a group supervisor’s password to access the funds, which were used to buy apartment units in the US, Greece and Japan.
Securities / Derivatives
Digital Asset, ISDA Collaborate to Drive Adoption of ISDA CDM
By Editors | 10/04/2019
Digital Asset will help create a new reference code library that will simplify and standardise the process of generating lifecycle events defined in the ISDA Common Domain Model.
Market Infrastructure
Payments Connectivity Sees Continued Progress in ASEAN
By Editors | 10/04/2019
Bank of Thailand outlined a number of key initiatives with other ASEAN nations to increase regional connectivity in cross-border payments.
Market Infrastructure
DTCC Partners with Droit to Automate Pre-Reporting Decision-Making
By Editors | 10/04/2019
DTCC’s pre-reporting solution can now determine – in real-time – the global cross-regulatory reporting implications and obligations for a particular transaction.
Market Infrastructure
RBI to Unify Complaints Handling for Digital Payments
By Editors | 10/04/2019
The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.
Market Infrastructure
Australia Consults on Payments System Migration to ISO 20022
By Editors | 10/04/2019
The RBA and Australian Payments Council have issued a consultation to help the industry agree on key strategic decisions for migrating the payment system to ISO 20022 by end-2024.
Market Infrastructure
The Impact of Culture and Conduct – Industry’s Biggest Blind Spot
By Prasanna Venkatesan | 09/04/2019
Looking beyond regulations aimed at cultural reform, Synpulse’s Prasanna Venkatesan discusses how conduct and culture can be operationalised, measured and managed in private banking.
Market Infrastructure
FCA, ASIC Ensure Post-Brexit Continuity, Cooperation
By Editors | 08/04/2019
The FCA and ASIC have signed MoUs on trade repositories and alternative investment funds, and adopted existing equivalence decisions on their supervisory and regulatory regimes.
Big Picture
BigTechs Contribute to Efficiency – and Risk – in Financial Services
By Manesh Samtani | 08/04/2019
A BIS working paper says BigTechs enhance competition, financial inclusion and efficiency in financial services, but they also concentrate market power and give rise to systemic risk.
Fintech / Regtech
ACCC Publishes Draft Rules for Open Banking Data Sharing
By Editors | 08/04/2019
The draft rules provide detail and guidance as to how the Consumer Data Right will work in the banking sector starting in July this year.
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