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Markets & Infrastructure
Clearing & Post-Trade
SIX and Korea Securities Depository Announce New MoU
By Mark Johnston | 23/05/2024
The collaboration, facilitated through SIX’s subsidiary SIX SIS, aims to enhance securities depository and settlement services.
Cybersecurity
US SEC Fines ICE for Late Notification of Cyber Intrusion
By Editors | 22/05/2024
Commissioners Hester Peirce and Mark Uyeda said the $10mn penalty was “disproportionately large” and creates a “counter-productive dynamic” with regulated entities.
Trading & Investment
FSB Considers Ways to Enhance Resilience of CP and CD Markets
By Editors | 22/05/2024
CP and CD markets feature limited secondary market activity due to the buy-and-hold nature of these instruments, the FSB says.
Trading & Investment
UK Regulators Fine Citi Over Trader’s Mistake, Control Failings
By Editors | 22/05/2024
A trader inadvertently placed sell orders worth $444bn instead of $58 million. Citi’s electronic trading system generated additional erroneous orders.
Payments & Settlements
HKMA Announces Refinements to USD Liquidity Facility
By Editors | 22/05/2024
The settlement date will be the same day as the tender date (T+0), instead of the business day after the tender date (T+1).
Conduct, Culture & Accountability
FDIC Chair to Step Down Over Culture Problems
By Editors | 22/05/2024
An independent review found a toxic work environment at the FDIC over decades, including “demeaning and inappropriate” interactions with staff by current chair Martin Gruenberg.
Trading & Investment
Korea: FSS Head Considers Partial Lifting of Short Selling Ban
By Editors | 22/05/2024
FSS Governor Lee Bok-hyun said he personally wishes to allow short selling practices in June, at least partially.
Payments & Settlements
Swift Enables Banks to Improve Services for Corporates
By Editors | 22/05/2024
Swift will extend ISO 20022 across the entire payment chain, and provide ready-to-use, white-labelled payment tracking services via API.
Structural Regulation
FSC Korea Permits Daegu Bank to Convert Banking Licence
By Editors | 22/05/2024
Daegu Bank will be the first regional bank to convert into a nationwide bank. It will also be the first new commercial bank in 32 years.
Payments & Settlements
PBOC, BOT to Promote Local Currency Use in Bilateral Transactions
By Editors | 22/05/2024
The PBOC and BOT governors also discussed banking and financial cooperation and cross-border payment and settlement.
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