Anti-Money Laundering

Inconsistent AML Approaches Cause Cross-border Payment Frictions

23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

Conduct, Culture & Accountability

US Fed to Bar Officials from Buying Individual Stocks, Bonds

23/10/2021

Fed policymakers and senior staff will be limited to purchasing diversified investment vehicles, such as mutual funds.

Conduct, Culture & Accountability

AFCA to Provide Clarity on New Compensation Scheme

23/10/2021

AFCA says it will help to provide clarity on the treatment of complaints about losses arising from financial products and financial advice.

Emerging Prudential Risks

RBI Finalises New Regulatory Framework for NBFCs

22/10/2021

The RBI is adopting a four-layer approach to regulating NBFCs. The new framework will take effect from 1 October 2022.

Structural Regulation

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.

Nature & Biodiversity

UPDATED – Chinese Banks Declare Support for Biodiversity Protection

21/10/2021

36 Chinese banking and financial institutions, 24 foreign banks and international organisations have jointly signed a biodiversity protection declaration.

Clearing & Post-Trade

NZX to Migrate Dairy Derivatives to SGX on 27 November

21/10/2021

NZX has amended its Clearing and Settlement Rules and Procedures, and the NZX Derivatives Market Procedures, to give effect to the migration of open interests.

Anti-Money Laundering

FATF Keeps Pakistan on Grey List with 4 Action Items Outstanding

21/10/2021

Marcus Pleyer said “there is no discussion on blacklisting Pakistan” as its government has demonstrated a “clear commitment” and is cooperating with the FATF.

Sustainable Finance

BIS Announces Plans to Launch Asian Green Bond Fund

21/10/2021

The fund will help channel central bank reserves to green projects in Asia Pacific, complementing two other green bond funds already launched by the BIS.