Market Infrastructure

Market Infrastructure

India’s Cosmos Bank Suffers $13mn Theft

By Manesh Samtani | 16/08/2018

Attackers used cloned cards to simultaneously withdraw cash from ATMs in 28 countries, along with a fraudulent SWIFT transfer two days later.

Market Infrastructure

ASIC Asks Banks to Take Steps to Mitigate Financial Adviser Fraud

By Garima Chitkara | 16/08/2018

ASIC has asked 5 banks to put in place measures to monitor, review and better explain to customers the potential risks of providing account access to third parties like financial advisers.

Market Infrastructure

FSB, BIS, IOSCO Study Highlights Central Clearing Interdependencies

By Manesh Samtani | 15/08/2018

FSB, CPMI, IOSCO and BCBS find continued concentration of prefunded financial resources at small number of CCPs; exposures to CCPs also concentrated among small number of clearing members.

Fintech / Regtech

Data Challenges Continue as Top Regulatory Concern in APAC – AxiomSL

By Manesh Samtani | 14/08/2018

Risk and regulatory executives surveyed have identified data challenges, regulatory change and compliance resources as top pain points in financial services sector.

Market Infrastructure

India to Devise Framework on Clearinghouse Interoperability

By Garima Chitkara | 14/08/2018

SEBI is working to develop a framework to allow clearinghouses to settle transactions executed on any exchange.

Market Infrastructure

NSE To Approach SEBI on Co-Location Case

By Garima Chitkara | 13/08/2018

The exchange will begin dialogue with the regulator on alleged misuse of its co-location facility; NSE chief says the exchange’s IPO is on hold until the resolution of this case.

Big Picture

RBI Should Have Sole Supervisory Responsibility for PSBs – IMF

By Garima Chitkara | 13/08/2018

In its India Staff Report, IMF brought up the issue of dual regulation of state run banks and called for full supervisory control of these banks to be given to the RBI.

Market Infrastructure

Taiwan FSC Orders Governance Fix at Fubon Financial Holdings

By Manesh Samtani | 13/08/2018

The regulator is concerned the founding family holds undue influence at Fubon Financial Holdings and affiliates, compromising board of directors’ autonomy.

Enforcement

ASIC Plan to Embed Staff Could Impede Banking Function

By Peter Guy | 13/08/2018

ASIC’s plan to embed its own staff as officers at major Australian banks will affect risk taking and how the Australian public is served by the financial services industry.