International

Cybersecurity

Financial Sector Cyber Resilience Relies on Global Cooperation – FSB

By Editors | 12/05/2019

Successful cooperation on cyber security will enhance financial sector resilience and prevent fragmentation, said the FSB’s secretary general Dietrich Domanski in speech to the G7.

Capital Adequacy

BCBS Releases 16th Progress Report on Basel III Adoption

By Garima Chitkara | 10/05/2019

In Asia, most jurisdictions have made progress with Basel III adoption, though most have yet to make progress on non-cleared derivatives margining and CCP regulation.

Cybersecurity

Open Banking Security Risks May Open Pandora’s Box

By Peter Lancos | 09/05/2019

The open banking initiative could be put in jeopardy if data is not sufficiently secured, say Peter Lancos, Jonathan Naismith and Suraj Nittoor at Exate Technology.

Market Risk

CFTC Chairman Seeks Formal Guidance on Phase 5 Initial Margin

By Manesh Samtani | 06/05/2019

Chairman Giancarlo seeks regulatory guidance clarifying that entities with calculated initial margin amounts less than $50mn need not make preparations to exchange initial margin.

Cloud & Infrastructure

FIs Need to Automate to Meet Tax Reporting Obligations – Report

By Editors | 06/05/2019

As tax reporting requirements grow increasingly complex, automation is making compliance cheaper, quicker and more efficient, says a new report from Regulation Asia and BearingPoint.

Payments & Settlements

SWIFT Launches Payment Investigation, Resolution Capability

By Editors | 03/05/2019

The new capability will improve transparency, shorten resolution time and reduce manual intervention to resolve issues that arise along the payments chain.

Market Data & Technology

FSB Designates UK Agency as Sole UPI Service Provider

By Editors | 03/05/2019

The Derivatives Service Bureau will be the sole issuer of UPI codes and operate the UPI reference data library, facilitating the use of OTC trade reporting data in assessing systemic risk.

Resolution & Recovery

Eight Jurisdictions Yet to Adopt Resolution Frameworks – FSB

By Garima Chitkara | 30/04/2019

Eight major jurisdictions are yet to adopt resolution planning. Further work is needed on resolution planning for D-SIBs and other banks, as well as on cross-border cooperation on bank resolutions.

Cloud & Infrastructure

Eight Firms Pass Initial Screening for GFIN Cross-Border Testing Pilot

By Manesh Samtani | 30/04/2019

Eight out of 44 applicant firms have passed an initial screening by GFIN members, and will now develop testing plans for regulators to consider and approve.