Keywords:

“It’s too complicated.”   
Federal Reserve Board chairman Ben Bernanke, lamenting the lack of tools to measure the economic impact of the last three years’ raft of new regulations.  

HSBC’s $62.5m settlement in a class action suit from an Irish hedge fund it provided custody services for is likely the first of many to come. Read our comment on the case here.

Visa paid $110m for Fundamo, a mobile payments company with 5m users in emerging markets, and extended its agreement with Monitise, which does the same in developed markets

Chile’s president Sebastian Pinera and China’s vice president Xi Jinping agreed in Santiago on regulatory cooperation, and trade for China Development Bank and two large Chilean lenders.

Al Khaliji Bankgave up its plan to buyInternational Bank of Qatar after two years of talks, denting the regulator’s efforts to consolidate its eight banks, which serve only 1.4 million people.

Korea’s Woori Financial signed an agreement with China’s Bank of Communications to cross-sell trade finance products; Hana made a similar arrangement with China Merchants Bank earlier this year.

Vietnam’s central bankdropped the ban on local commercial banks installing newATMs it ordered after a 10-year-old girl who touched a faulty unit was electrocuted in April.

Citi promoted Indonesia retail banking head Tigor Siahaan to country officer, as incumbent Shariq Mukhtar is believed to have failed a “fit and proper” test in the central bank’s fraud investigation.

Bangladesh’s government ordered the central bank to punish with hefty fines banks that invested more than 10% of their total liabilities in capital markets; it may also remove MDs or cancel licenses.

Security breach at RSA prompts ANZ to replace over 50,000 security tokens.Westpac will be replacing tokens too, but CBAand NAB won't. Read our comment here.