IOSCO Issues Industry Surveys On Conduct Risks In Leveraged Loans And Collateralized Loan Obligations Date
24/05/2021
The International Organization of Securities Commissions (IOSCO) has issued four questionnaires for industry participants on conduct risks in Leveraged Loans (LLs) and Collateralized Loan Obligations (CLOs) targeting bank lenders, CLO investors, CLO managers and LL sponsors.
IOSCO, through its Committee 3 on Regulation of Market Intermediaries and its Committee 5 on Investment Management, is conducting work to understand the potential conflicts of interest and misaligned incentives among participants in the LL and CLO markets across the chain of intermediation, from credit origination to the sale to end-investors.
Upstox data breach: A wake up call for market intermediaries
April 16, 2021
This case must be used to make trading foolproof
Upstox, one of the largest discount broking firms, recently suffered a security breach of its systems, resulting in the exposure of its customers’ sensitive information.
Though Upstox did not specify how many of its users’ data was compromised, media reports suggest at least 25 lakh customers data were breached.
Upgraded system
The leaked information includes names, email addresses, dates of birth, bank account information, and about 56 million know your customer (KYC) documents pulled from the company s server.
Following the incident, Upstox issued a clarification, stating: We have upgraded our security systems manifold recently, on the recommendations of a global cyber-security firm. We brought in the expertise of this globally renowned firm after we received emails claiming unauthorised access into our database. These claims suggested that some
Date
26/02/2021
The Board of the International Organization of Securities Commissions (IOSCO) today published its 2021-2022 work program to further its core objectives of protecting investors, maintaining fair, efficient, and transparent markets, and addressing systemic risks. The work program, unlike previous editions, covers a two-year horizon and will be reviewed and refreshed as appropriate at end-2021 to ensure its ongoing relevance.
The 2021-2022 work program encompasses work with respect to two new priorities, namely:
Financial stability and systemic risks of non-bank financial intermediation activities (NBFI); and
Risks exacerbated by the COVID-19 pandemic – misconduct risks, fraud, and operational resilience.
With concerns persisting about COVID-19’s continuing impact on global economic activity and the macro-financial outlook, the 2021-2022 work program calls on IOSCO through these two new priorities to maintain a core focus on critical work underway since