United States

Fintech / Regtech

Banks Need Regulatory Defence Against Tech Firms

By Peter Guy | 16/08/2018

The Facebook controversy around user data hasn’t discouraged it from advancing its ambitions in financial services like payment and remittance processing.

Securities / Derivatives

Philippines Eases Bond Issuance Rules for Banks

By Manesh Samtani | 15/08/2018

BSP circular says banks do not need prior approval of central bank to issue bonds and commercial papers and sets out eligibility criteria for issuers.

Crypto / Digital Assets

Thailand Allows Banks to Engage in Crypto Activities Through Subsidiaries

By Manesh Samtani | 10/08/2018

Banks still prohibited from issuing, buying or selling digital tokens directly, but bank subsidiaries will be allowed to trade cryptocurrency and issue digital tokens with permission from supervisory body.

Market Infrastructure

CFTC to Simplify Registration Exemption Process for non-US Clearing Firms

By Editors | 10/08/2018

CFTC proposal seeks to make it easier for non-US firms to navigate the process for obtaining exemptions from registration as derivatives clearing organisations.

Fintech / Regtech

Philippines Proposes Regulatory Framework for ICOs

By Editors | 09/08/2018

Draft rules propose issuers undergo initial assessment to determine if ICO tokens are securities; security tokens must be registered with the SEC and proceeds must be maintained in escrow.

Market Infrastructure

Talking Derivatives Trade Reporting with DTCC’s Oliver Williams

By Manesh Samtani | 08/08/2018

Enhancements to DTCC’s Global Trade Repository service in Singapore will support the MAS’s next phase of derivatives trade reporting requirements, as well as improve usability and reduce complexity for users.

Fintech / Regtech

S. Korea FSS Pushes for Blockchain Use in Stock Transactions

By Editors | 06/08/2018

FSS is advocating for regulatory agencies and private companies to work together to enable stock trading through blockchain, noting progress in the US, UK, Japan and Australia to move forward on the technology.

Enforcement

UPDATED – US SEC Intensifies Probe into India’s NYSE-Listed ICICI Bank

By Manesh Samtani | 28/07/2018

SEC officials have questioned two of the bank’s top executives on whistle blower allegations that loan provisioning was unfairly delayed to inflate profits by $1.3bn over eight years.

Enforcement

Mizuho To Pay $1.25mn Fine To US SEC

By Manesh Samtani | 26/07/2018

SEC alleged that Mizuho failed to prevent traders sharing stock buyback information pertaining to its issuer clients with each other and with hedge fund clients.