Anti-Money Laundering

BitMEX Founders Charged for Evading AML Requirements

03/10/2020

Four individuals were charged for “willfully” failing to establish, implement, and maintain an adequate AML programme that included a KYC component.

Credit Risk

Bangladesh Further Extends Ban on Downgrading Borrowers

02/10/2020

Bangladesh Bank has instructed banks not to change their classifications of loans for another three months for borrowers that fail to make repayments.

Cloud & Infrastructure

Australia to Allocate A$800m to Digital Initiatives in Budget

02/10/2020

The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.

Reporting & Disclosures

IFRS Foundation Consults on Role in Global Sustainability Standards

02/10/2020

One possible option is for the IFRS Foundation to establish a new sustainability standards board, operating alongside the IASB, focusing initially on climate-related matters.

Liquidity Risk

RBI Defers Implementation of NSFR, Final Tranche of CCB

02/10/2020

The delays are a result of “continuing stress on account of Covid-19”, giving banks a further six months until 1 April 2021 to meet the higher requirements.

Structural Regulation

ACCC Concludes Refinitiv-LSEG Merger Review

02/10/2020

The ACCC examined horizontal overlaps and vertical relationships between LSEG and Refinitiv, as well as potential competition issues, and is not opposed to the transaction.

Payments & Settlements

SWIFT Developing Low-Value Cross-Border Payments Service

02/10/2020

The new initiative will improve the payments experience for consumers and SMEs, making them faster, more transparent, easier and competitively priced.

Anti-Money Laundering

Taiwan to Set New AML/CFT Rules for Accountants

01/10/2020

Accountants will not be allowed to establish business relationships or conduct transactions with clients until their identities and actual beneficiaries are verified.

Clearing & Post-Trade

SEBI Orders Faster Liquidation of Defaulting Brokers’ Assets

01/10/2020

Stock exchanges and clearing corporations should sell brokers’ securities if debit balances are not cleared in 5 days, and to sell other broker assets six months after the default.