The proposed rules are aimed at protecting the US financial system from money laundering enabled by shell companies and all-cash real estate deals.
Banks are "strongly encouraged" to enhance their green and sustainability programmes to encompass climate risk management and the sound practices.
The new rules will enable parties suspected of engaging in illegal acts to pay administrative settlements rather than wait for investigations to be concluded.
The findings reinforce the need for banks to continue to build capital and replace Tier 2 instruments that will cease to be compliant under the new rules on bank capital.
FinCEN to Tighten Rules on Beneficial Ownership, Real Estate DealsDecember 9, 2021
RBNZ Consults on Draft Deposit Takers Act LegislationDecember 9, 2021
South Korea’s Revised FSCMA Takes EffectDecember 9, 2021
PBOC Lowers Relending Rate for Agriculture, Small Business LoansDecember 9, 2021
HKMA Shares ‘Sound Practices’ in Bank Climate StrategiesDecember 9, 2021
HKFE Gets CFTC Certification for Two More China Futures ContractsDecember 9, 2021
ANZ Faces Class Action for Over Credit Card Interest ChargesDecember 9, 2021
CSRC to Streamline Regulatory System for Listed CompaniesDecember 9, 2021
US Climate Reporting Framework Expected Q1 2022December 9, 2021
Thailand Set to Launch ID Checking System for Foreign Bond InvestorsDecember 9, 2021