United States

Market Infrastructure

Bangladesh: Three Private Banks Hit by Cyber Attacks

By Editors | 25/06/2019

Hackers stole $3m from Dutch-Bangla Bank using cloned credit cards and cash machines in Cyprus, Russia and Ukraine.

Capital / Liquidity

BCBS Agrees to Revise Leverage Ratio, Disclosure Requirements

By Editors | 21/06/2019

Margin received from clients allowed to offset cleared derivatives exposure used to calculate leverage ratio. New disclosure requirements will address leverage ratio window dressing.

Enforcement

US SEC Charges Five Asian Traders for Market Manipulation

By Editors | 21/06/2019

The SEC has charged three Malaysians, one Singaporean and one Chinese national with violating antifraud and market manipulation provisions.

Market Infrastructure

IOSCO Urges Members to Review, Enhance Cyber Standards

By Editors | 19/06/2019

A new report from the IOSCO Cyber Task Force provides an overview of three internationally recognised cyber standards and frameworks used by IOSCO members.

Market Infrastructure

SFTR: An Opportunity to Upgrade, Automate

By Manesh Samtani | 17/06/2019

DTCC’s Val Wotton and Oliver Williams explain the challenges SFTR presents in Asia, and how firms can best prepare in the lead-up to implementation starting in April 2020.

Securities / Derivatives

ICBC US Brokerage Unit Penalised for Unlawful ADR Practices

By Editors | 17/06/2019

ICBC Financial Services LLC will pay over $42m to the US SEC for improper handling of ‘pre-released’ ADRs, and $3m to the DOJ for conspiring to rig bids related to the release of ADRs.

Big Picture

DLT Can Enhance Settlement Systems, But Not Replace Them

By Manesh Samtani | 14/06/2019

A new paper from Greenwich Associates says DLT cannot replace settlement infrastructure entirely without imposing the very costs it was designed to reduce.

Fintech / Regtech

Singapore: Progressing the Culture and Conduct Risk Agenda

By Jeffrey Kupfer | 13/06/2019

MAS is equipping itself with advanced tools that will allow for culture and conduct to be evaluated in a more systematic way, say Jeff Kupfer and Stephen Scott at Starling.

Fintech / Regtech

Philippines: Online Lenders to Adopt Code of Conduct

By Editors | 08/06/2019

The pledge comes after 48 online lenders were cited for using customers’ personal data to publicly shame people who did not settle their debts on time.