New York Governor Andrew Cuomo has set out a host of new cybersecurity regulations for banks and insurance companies in a bid to protect consumer data and financial systems from crooks and terrorists.
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.
Wells Fargo has been fined $185 million for opening up to two million unauthorised deposit and credit card accounts, issuing and activating debit cards without consent and creating phony email addresses to enrol people in online services.
AxiomSL CEO Alex Tsigutkin will present ‘Staying ahead of the regulatory curve: Focusing on firms’ sustainability and profitability with all of the IT transformation and regulatory compliance controls in place’ at this year’s Sibos conference in Geneva.
Interbank co-operative Swift is facing an uphill battle to convince its membership of the urgency of upgrading security after revealing a further spate of hacks against users of the financial messaging network.
InteDelta, a risk management consultancy and Risk Enterprise, a consultancy and vendor of rating model technology, announce a partnership to provide banks with advisory and rating models for IFRS 9 and Basel compliance.
Singapore's central bank is to streamline its regulatory framework to accommodate new innovations in payments systems and establish a National Payments Council to promote interoperability and common standards among competing services.
Deutsche Bank is facing sanctions from US regulators over a catalogue of failures that afflicted its swaps data reporting functions.
The US Commodity Futures Trading Commission is seeking a monetary penalty and a permanent injunction against the German bank after a five-day systems outage prevented it from reporting swaps data and uncovered a host of other disaster recovery and trade reporting lapses.
