Hong Kong becomes latest to establish FinTech sandbox
Hong Kong shadows the UK, Singapore and Australia with the launch of a regulatory sandbox.
Regulation
Custodial bottlenecks cause extension for initial margin rules
The CFTC has given swaps dealers until 3 October to establish custodial accounts for posting initial margin.
“US firms will suffer from swaps-collateral rules” says CFTC Commissioner
The FSB has pressed global regulators to adopt initial margin rules as soon as possible.
BNP Paribas fined $4m for overcharging clients in Hong Kong
BNP Paribas made $9.5 million by marking up fees on client transactions between 2011 and 2013.
ESMA escalates risk outlook
ESMA warns market, liquidity and contagion risks could rise amid Brexit fallout.
FSB cautions over further margin rules delays
Only the US, Canada and Japan are ready to implement initial margin requirements on 1 September.
Former FX trader at Barclays faces $1.2 million fine
FX trader created chat room to facilitate benchmark manipulation with traders at competitor banks.
Regulation clarity key says EC chiefs
European Commission and Council chiefs laid out their regulatory issues prior to September’s G20 summit in Hangzhou.
Australia, Hong Kong and Singapore delay swaps margin rules
The regulators have not stated a new implementation date, potential causing conflicts over harmonisation.
System outage sees Deutsche Bank charged over reporting failures
CFTC in the US has found Deutsche Bank had shown an inability to comply with swap reporting requirements.