US exchanges, clearing houses, trade repositories and dealing platforms will have to test their systems for cyber-vulnerabilities at least once a quarter under new rules approved by the Commodity Futures Trading Commission.
Derivatives central counterparties (CCPs) have made meaningful progress in boosting their resilience in recent years but more work is needed to ensure consistency around the world, according to new reports from major global bodies.
January 22, 2016 - The Netherlands has the potential to become a fintech hub, but only if the country's regulatory framework is overhauled and banks, startups and government improve cooperation, according to a new report.
China likely hacked computers at the Federal Deposit Insurance Corporation (FDIC) between 2010 and 2013 and the attacks were covered up by staffers at the regulator, according to a Congressional report.
February 8, 2016 - The Financial Conduct Authority (FCA) has today published the final rules confirming their approach to improving individual accountability for those carrying out wholesale activities, such as algorithmic and high-frequency trading, in banks, building societies, and Prudential Regulation Authority (PRA) designated investment firms.
January 19, 2016 - Virtusa’s Governance, Risk & Compliance consulting practice (“GRC”) advises top-tier companies across the full spectrum of industry verticals. We assist organizations in maintaining both efficiency and compliance in increasingly complex regulatory environments. Virtusa’s GRC practice deploys industry professionals who are experienced in various areas of Risk and Compliance, to provide a hands-on approach to program management, operational efficiency, remediation and delivery.
March 18, 2016 - Swiss financial markets watchdog Finma has pushed through a raft of new initiatives in a bid to stimulate further growth and innovation in the country's emerging fintech sector.
February 1, 2016 - The Securities and Exchange Commission yesterday announced that Barclays Capital Inc. and Credit Suisse Securities (USA) LLC have agreed to settle separate cases finding that they violated federal securities laws while operating alternative trading systems known as dark pools and Credit Suisse's Light Pool.
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.
March 15, 2016 - US regulatory body Finra (Financial Industry Regulatory Authority) has waded into the growing market for robo-advisory services, warning firms of the need for sound governance and supervision of digital investment tools.
January 25, 2016 - Following a string of high profile technical blackouts, Britain's biggest banks have been urged by the UK's influential Treasury Select Committee to invest more resources to improve their technology infrastructure and to appoint board directors with knowledge of IT.
December 11, 2015 - Courion, a leading intelligent Identity Governance and Administration (IGA) solutions provider, announced today the acquisition of Core Security, a leader in the vulnerability management and attack intelligence space.