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PEPs & Sanctions
US Court Finds Chinese Banks in Contempt in Sanctions Probe
By Editors | 26/06/2019
A US district court has reportedly found three Chinese state-owned banks in contempt for failing to comply with requests for evidence related to a North Korea sanction probe.
Liquidity Risk
Japan Opposes LCR for US Branches of Foreign Banks
By Manesh Samtani | 26/06/2019
The BOJ, FSA and JBA say standardised liquidity requirements for US branches of foreign banking organisations will promote market fragmentation and create global risks.
Fraud, Scams & Cybercrime
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 Adequacy
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.
Market Abuse
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.
Cybersecurity
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.
Clearing & Post-Trade
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.
Market Abuse
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.
Clearing & Post-Trade
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.
Conduct, Culture & Accountability
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.
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