EU reaches agreement on new General Data Protection Regulation
December 16, 2015 - Following extensive, multi-annual negotiations the European Parliament and European Council have reached an agreement on a new General Data Protection Regulation modernising a legal framework which dates back to the 1990s.
SFC reprimands and fines three JP Morgan entities a sum of HK$30 million for regulatory breaches
December 15, 2015 - The Securities and Futures Commission (SFC) has reprimanded J.P. Morgan Broking (Hong Kong) Limited (JPMBHK), J.P. Morgan Securities (Asia Pacific) Limited (JPMSAP) and J.P. Morgan Securities (Far East) Limited (JPMSFE) (collectively "JP Morgan"), and fined them $15 million, $12 million and $3 million respectively for various regulatory breaches and/or internal control failings.
Bank spend on blockchain tech to top $1 billion by 2017
December 14, 2015 - Spending by financial institutions on blockchain projects will exceed $1bn in 2017, making it one of the fastest developing enterprise software markets of all time, says boutique investment bank Magister Advisors.
Asset Management Industry on the Verge of Data Management Revolution in 2016
December 14, 2015 - Throughout 2015, the asset management industry has begun a fundamental shift in the way they view and approach data management. After years of increased regulatory and investor demands for heightened transparency, asset management back-office technology and data have become highly fragmented. The recent regulatory push has also driven asset managers to collect volumes of data about their business and investing strategies.
Analysts Expect Regulatory Pressures on Global Banks to Increase Over the Next Five Years
December 9, 2015 - Nearly two-thirds of equity analysts (61 percent) who cover global capital markets institutions expect regulatory pressures on banks to intensify further through 2020, with potential new capital rules, informally known as "Basel IV," likely to have the greatest effect on their operations, according to a global survey of nearly 150 buy-side and sell-side analysts.
UK and US bankers place cybercrime worries ahead of economic outlook
December 9, 2015 - UK and US bankers place fears about cybercrime at the top of a list of 24 possible risks to the financial services industry, beating off traditional worries about excessive regulation and economic growth.
Europe agrees EU-wide legislation on cybersecurity
December 8, 2015 - Negotiators of the European Parliament, the Council and the Commission have agreed on the first EU-wide legislation on cybersecurity.
EPC publishes Sepa Cards Standardisation Volume
December 8, 2015 - The European Payments Council (EPC), representing payment service providers, and the Cards Stakeholders Group (CSG), a multi-stakeholder body gathering retailers, vendors, processors, card schemes and the EPC, today published version 7.1 of the Single Euro Payments Area (SEPA) Cards Standardisation Volume (the Volume).
