• Skip to primary navigation
  • Skip to main content
  • Skip to footer
The Evolution of ESG RegulationThe Evolution of ESG RegulationThe Evolution of ESG Regulation

CUBE global

  • Products
        • RegPlatform product overviewOur enterprise product, providing regulatory intelligence for large, global financial institutions looking to tackle complex compliance.
        • RegAssure product overviewOur highly intuitive, seamless compliance product, that grows with your small or medium sized business.
        • CUBE's technology
  • Solutions
        • PrivacyGlobal governance for data privacy regulations, the world over
        • RecordsHolistic oversight of ever-growing regulations for records
        • CybersecurityAutomated workflows for up to date, relevant data on cyber
        • Technology riskEffective policies and controls to mitigate technology risk
        • Financial crime and AMLWatertight audit trails to show risk-based rationale
        • View all solutions
  • Resources
        • Resource hubLifting the lid on financial services, compliance, and regulation
        • Read

        • Case Studies
        • Blog posts
        • Reports
        • RegNews
        • Brochures
        • Find

        • Compliance Corner
        • Compliance confessions
        • ESG Conference
        • CUBE’s regulation game
        • Listen

        • Videos
        • Webinars
        • Podcasts
  • Partners
        • Advisory and consulting partnersEnhance your regulatory compliance offering with the entire suite of CUBE regulatory data.
        • Integration partnersCompliance is complex enough without over-complicated integration procedures.
        • Technology partnersAdd value to existing customer applications with a unified window into regulatory intelligence.
        • Partners overview
  • About us
        • About usThe story of who we are, how we got here and why we’re exceptionally proud of what we do
        • TeamThe visionaries and leaders powering CUBE’s success
        • NewsThe latest news from CUBE
        • CareersOur movement to transform regulatory data into regulatory intelligence
        • ContactWant to know more? Get in touch
  • Request a demo
Customer login
Home » Resources » 22nd March

CUBE RegNews:
22nd March

ECB successfully launches new T2 wholesale payment system

The European Central Bank (ECB) and national central banks of Euro-adopted countries (the Eurosystem) have launched a new real-time gross settlement (RTGS) system and central liquidity management tool.  

The project is part of the Eurosystem’s on-going efforts to modernize market infrastructure, ensuring that it is future-proof and meets the needs and expectations of market participants, and further improving the efficiency of Europe’s financial markets. 

Click here to read the original content in full on CUBE’s RegPlatform

EBA consults on amendments to the reporting on the Fundamental Review of the Trading Book

The European Banking Authority (EBA) has published a public consultation on its draft Implementing Technical Standards (ITS) amending the ITS on specific reporting requirements on market risks (FRTB reporting), aimed at providing supervisors with the necessary tools to monitor these risks. The consultation paper also sets out ideas and some concrete, first proposals regarding amendments to Regulation (EU) 2021/451 (ITS on Supervisory Reporting), linked to the introduction of the FRTB in the EU. The most noteworthy of those proposals is a template for reporting information on reclassifications of positions between the regulatory books.

The consultation runs until 21 June 2023.   

Click here to read the original content in full on CUBE’s RegPlatform

Mairead McGuinness on open banking

European Commissioner for financial services, financial stability and Capital Markets Union, Mairead McGuinness, has spoken about the open banking revolution and implications for the financial sector. In the speech McGuinness confirmed the Commission will adopt the proposal on Open Finance before the summer and also spoke about some of the concerns around open banking including privacy, security and data protection. McGuinness also mentioned that proposals will be made to fix these concerns as part of the revision of the Payment Services Directive. 

Click here to read the original content in full on CUBE’s RegPlatform

SEC Division of Investment Management director speech

WIlliam Birdwhistle, Director, Division of Investment Management at the SEC has highlighted three areas “worthy of our far-reaching vigilance and prompt concentration”.

In a speech at the ICI Investment Management conference, Birdwhistle noted technological developments, changing demographics and rapid growth (in both the market overall and the number and type of underlying products) as areas that the division is paying particular attention to. He spoke of a number of SEC initiatives — new rules and amendments designed to improve the management of cybersecurity risks by investment advisers and funds; the recently announced amendments to Reg S-P; amendments to the investment adviser custody rule; amendments to the requirements for annual and semi-annual shareholder reports provided by mutual funds and exchange-traded funds, and many other initiatives — which supported his three themes.

Click here to read the original content in full on CUBE’s RegPlatform

Immediate effectiveness of proposed change to amend FINRA rules

The SEC has confirmed the immediate effectiveness of a number of FINRA-proposed amendments to remove overlapping requirements concerning (i) clock synchronization for recording market events; (ii) quote and order access; (iii) reporting requirements on certain information for orders in OTC equity securities; and (iv) recording of quotation information on an inter-dealer quotation system.

Click here to read the original content in full on CUBE’s RegPlatform

FOS response to CCA consultation

The Financial Ombudsman Service (FOS) has published its responses to the UK government’s review of the Consumer Credit Act 1974 (CCA). Whilst the FOS welcomes the review and broadly agrees with the principles underlying the reform, they do note that the forthcoming FCA Consumer Duty will complement, but is no substitute for, the requirements of the CCA and indeed that the protection levels afforded by the CCA are not available in any “consumer protection legislation, rules and/or guidance, outside of the CCA”.

Click here to read the original content in full on CUBE’s RegPlatform

ASIC charges director with client money offenses

The Australian Securities and Investments Commission (ASIC) alleges that between July 2016 and April 2021 Renato De Maria, the sole director of Alliance Management Group Pty Ltd used his position as director of AIBS dishonestly, by misusing monies held in trust accounts on behalf of AIBS clients, by:

  • authorizing three withdrawals totaling $7.9 million which were ultimately transferred back to Mr De Maria via a third party and thereby contravening s184(2) of the Corporations Act; 
  • issuing inflated insurance invoices totaling over $4 million to four separate clients and thereby contravening ss1041G of the Act; and 
  • transferring over $24 million between an AIBS trust account and other accounts controlled by Mr De Maria and thereby contravening s184(2) of the Act. 

Mr De Maria will next appear before the Melbourne Magistrates’ Court on 28 June 2023. 

Click here to read the original content in full on CUBE’s RegPlatform

CUBE RegNews:
A selected summary of key developments for regulated financial institutions

Access all of our daily regulatory content by using the login button below.

To find out more about how CUBE can help your business click here.

Login to your account

Related resources
View all articles
CUBE RegNews

June 8th

CUBE RegNews

June 7th

CUBE RegNews

June 6th

CUBE RegNews

June 5th


Want CUBE updates and latest industry news sent straight to your inbox?

Footer

Add CUBE logo here

  • Products
    • Partners
    • Solutions
  • Resource hub
    • Blogs
    • Reports
    • Brochures
    • Compliance Corner
    • Webinars
    • Podcasts
    • Videos
  • Behind CUBE
    • About us
    • Meet the team
    • Careers
    • News US
    • Contact us
  • The legal bits
    • Privacy policy
    • Cookie policy
    • Terms of use
    • Accessibility
Follow us:
  • LinkedIn
  • Twitter
  • YouTube

© 2023 CUBE Content Governance Global Limited

  • US