MARKET INFRASTRUCTURE

Enforcement

China Sees Largest Ever Theft of User Data

By Editors | 23/08/2018

Shenzhen-listed Ruizhi Huasheng Technology, a third party developer for state-run mobile carriers, stole up to 3 billion pieces of user data from 96 companies including Alibaba, Tencent and Baidu.

Market Infrastructure

Trade Row May Delay US Banks Seeking China Expansion – Report

By Manesh Samtani | 23/08/2018

US banks believe trade tensions could delay or prevent approvals to increase their stakes in Chinese subsidiaries, possibly enabling European banks to an gain upper hand.

Market Infrastructure

SOFR Gains Acceptance as LIBOR Alternative

By Manesh Samtani | 22/08/2018

Credit Suisse, the World Bank and Fannie Mae have now all issued new debt referencing the SOFR, which draws from actual repo market transactions to reflect the cost of borrowing cash secured against US government debt.

Market Infrastructure

India Tops Global Data Breach List For 2018 – Report

By Garima Chitkara | 22/08/2018

India, Vietnam and Australia were among the top five jurisdictions globally in terms of records exposed.

Market Infrastructure

Cross Border Data Transfers – An Old Problem, With or Without GDPR

By Peter Lancos | 21/08/2018

The challenges GDPR introduces around Cross Border Data Transfers are not necessarily new problems. They do however make an existing problem just a bit more complicated.

Fintech / Regtech

Virtual Banks in Hong Kong: Bringing Risks and Opportunities To Asia

By Kristi Swartz | 21/08/2018

A new era of smart banking in Hong Kong is anticipated to begin at the end of this year with the establishment of virtual banks. Competent players will embrace enormous opportunities to challenge the city’s traditional banking model.

Market Infrastructure

A New Era for Sino-Foreign Securities JVs

By Benjamin Quinlan | 21/08/2018

For foreign players looking to set up a securities business in China, effectively monetising the JV opportunity isn’t so straightforward, and necessitates an in-depth understanding and review of strategic, regulatory, financial, and operational considerations.

Enforcement

CSRC Bars Dagong from Ratings Business for One Year

By Garima Chitkara | 20/08/2018

The ratings agency is a target of an investigation by the securities regulator for poor governance and risk management following a spate of overly optimistic ratings given to local issuers.

Market Infrastructure

Cost Not A Factor in Ensuring Cyber Security – RBI

By Garima Chitkara | 20/08/2018

Market participants should not consider cost savings when formulating cyber security measures, said RBI governor Urjit Patel while launching digital payments platform UPI 2.0.