Structural Regulation

MAS Supports Balanced Approach to BNPL Regulation

16/06/2023

MAS said overly strict regulations would unnecessarily restrict BNPL providers and limit consumer choices.

Supervision & Enforcement

UK Unveils Measures to Increase Corporate Accountability for Crime

16/06/2023

Under the reform plan, businesses involved in fraud, money laundering, and bribery will be subject to stricter scrutiny.

PEPs & Sanctions

Russia to Enact Legislation Allowing it to Seize Western Assets

16/06/2023

The legislation would enable the Russian government to appropriate the assets of Western companies at significant discounts.

Structural Regulation

Faster Progress Needed to Enhance EU Capital Markets: IMF

15/06/2023

IMF managing director Kristalina Georgieva highlighted key priorities to enhance Europe’s capital markets.

Payments & Settlements

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.

Cryptocurrency

ESMA Sets Out Plans for Crypto Rule Consultations

15/06/2023

With MiCA now in force, ESMA said it would consult on a range of technical standards that will be published in three packages.

Structural Regulation

Canada Pauses Work With AIIB to Probe China’s Involvement

15/06/2023

Canada will halt activity with the AIIB, after an official alleged that the bank was dominated by the Chinese Communist Party.

KYC & CDD

US Lawmakers Introduce Bills to Increase FinCEN Accountability

15/06/2023

One of the bills will delay the effective date for the upcoming beneficial ownership information reporting requirements.

Clearing & Post-Trade

India Supervisory Regime for CCPs Gains UK Equivalence

15/06/2023

Indian CCPs have been facing the possibility of losing their ability to provide clearing services to UK market participants.