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Clearing & Post-Trade
DTCC Suggests Move to T+1 Settlement in US Markets
By Manesh Samtani | 24/02/2021
Reducing the settlement cycle to T+1 could reduce the NSCC’s value-at-risk clearing fund charge by 30-40 percent for sample portfolios, DTCC said.
Cryptocurrency
SEC Thailand Considers New Qualifications for Retail Crypto Investors
By Sanday Chongo Kabange | 22/02/2021
The SEC is considering the introduction of screening criteria for retail crypto investors which could include age, trading experience and wealth.
Payments & Settlements
BIS, SWIFT Invite Firms to Participate in ISO 20022 Hackathon
By Editors | 21/02/2021
Participants will be asked to develop and showcase solutions that improve cross-border payments, using the ISO 20022 standard and APIs.
Fraud, Scams & Cybercrime
US Prosecutors Unveils New Charges Against North Korean Hackers
By Manesh Samtani | 21/02/2021
Warrants have been issued for the arrest of the three programmers said to be involved in the Sony, WannaCry, Bangladesh Bank and other attacks.
PEPs & Sanctions
UK, Canada Impose Sanctions Against Myanmar Officials
By Manesh Samtani | 21/02/2021
Human Rights Watch is calling for economic sanctions, travel bans and asset freezes for leaders of Myanmar’s military, military business conglomerates and the new governing body.
PEPs & Sanctions
OFAC Settles Sanctions Case Against Crypto Payments Processor BitPay
By Editors | 20/02/2021
BitPay is said to have enabled individuals in sanctioned jurisdictions to engage in $129,000 worth of digital currency-related transactions with its merchant customers.
Sustainable Finance
Trade Bodies Set Out Framework for US Transition to Low-Carbon
By Editors | 18/02/2021
The framework sets out ten principles to inform the policymaking process and catalyse the transition to a more sustainable and inclusive low-carbon economy.
Anti-Money Laundering
BSP Adopts New AML/CFT Risk Assessment Framework
By Ranamita Chakraborty | 18/02/2021
The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.
Payments & Settlements
US Court Rules Against Citigroup Over Revlon Error Payment
By Editors | 18/02/2021
The federal judge ruled that a group of asset managers are not required to return $501mn that Citigroup mistakenly paid early on behalf of Revlon last August.
Credit Risk
Philippine President Duterte Signs ‘Bad Bank’ Bill Into Law
By Editors | 17/02/2021
The law will help cushion lenders from a build-up of bad loans due to the Covid-19 crisis, allowing them to dispose of bad assets and keep the banking system stable.
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