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Fraud, Scams & Cybercrime
Woori, Shinhan to Pay Compensation on Lime Asset Losses
By Editors | 07/06/2020
Woori and Shinhan will pay about 50% of principal invested in three suspended Lime funds, preemptively, while the FSS decides on a final compensation ratio.
Payments & Settlements
RBI Creates $66mn Fund to Boost E-Payments Infrastructure
By Editors | 07/06/2020
The RBI will initially contribute half of the funding; the rest will come from card-issuing banks and card networks, who will also cover operational expenses.
Payments & Settlements
Sri Lanka SEC Approves Rules to Digitalise Stock Market
By Duruthu E Chandrasekera | 07/06/2020
Sri Lanka’s SEC has approved rules to enable electronic account opening, trading and settlement at the Colombo Stock Exchange.
Structural Regulation
Thailand to Launch Digital Platform for Capital Markets Licensing
By Editors | 05/06/2020
The ‘Prof Link’ platform will include licence information for over 80,000 capital markets professionals, incorporating professional development and training.
Anti-Money Laundering
Westpac Concludes Internal Probe into AML/CTF Failures
By Manesh Samtani | 04/06/2020
Westpac said its IFTI non-reporting was due to a mix of technology and human errors dating back to 2009. Governance failures and unclear compliance accountabilities were also identified.
Clearing & Post-Trade
JPX, JASDEC Select Use Cases to Test in DLT Project
By Editors | 04/06/2020
DLT will be tested to share fund, SSI, and corporate information; enhance compatibility among fund distribution networks; share stock borrowing and lending information.
Conduct, Culture & Accountability
HKMA Initiative to Nurture Young Talent for Banking Industry
By Editors | 04/06/2020
The HKMA will sponsor up to half of the salaries of the fresh graduates employed by firms that participate in the Banking Talent Programme.
CBDCs
Japan Megabanks to Collaborate on Cashless Payments
By Editors | 04/06/2020
The project will explore the use of electronic money and digital currency to make banks and cashless payments services interoperable, and could evolve into the introduction of the ‘digital yen’.
Trading & Investment
NAFMII Launches Asset-backed Commercial Paper Pilot
By Editors | 04/06/2020
The pilot programme has so far helped 270 small and micro businesses obtain financing by selling their accounts receivables and notes to be securitised.
Structural Regulation
ESMA Clarifies Transparency Rules, Position Limits for Non-EU Venues
By Editors | 04/06/2020
ESMA has clarified its application of post-trade transparency requirements and the position limits regime to third-country trading venues.
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