KYC & CDD

IFC to Develop e-KYC Infrastructure for Bangladesh

31/10/2021

International Finance Corporation will help Bangladesh’s FIU develop e-KYC infrastructure to advance digital transformation and financial inclusion.

Emerging Prudential Risks

UK Considers Use of Climate Risk Capital Buffers

31/10/2021

The Bank of England is exploring whether to use capital add-ons or scalars to address weaknesses in climate risk management.

Sustainable Finance

Japan FSA Finalises Guidelines on Social Bond Issuance

31/10/2021

Under the guidelines, social bond issuers have to make annual disclosures on the use of the proceeds and the social benefits they yield.

Resolution & Recovery

FSC Korea Orders Citi to Submit Detailed Plans on Market Exit

31/10/2021

Citi is asked to submit a detailed plan for how it will protect consumer rights as it exits its retail banking business in Korea.

Sustainable Finance

BSP Directs Banks to Integrate Environmental, Social Risks

31/10/2021

Banks have to integrate environmental and social risk in their risk management frameworks and when defining their credit strategy.

Operational Risk

APRA Finalises Expectations on Negative Rate Preparedness

31/10/2021

ADIs have until 31 July 2022 to develop tactical solutions to implement zero and negative market interest rates and cash rate.

Conduct, Culture & Accountability

HKEX Proposes Changes to Rules Governing Share Schemes

31/10/2021

Listed companies will be able to grant no more than 10 percent of their total shares in share award or option schemes.

Anti-Money Laundering

AUSTRAC Asks Banks to Avoid Indiscriminate De-banking Practices

31/10/2021

De-banking activities lead criminal activity underground and compound the risks criminals pose to Australia’s financial system and the community.

Cybersecurity

MAS Advisory Panel Offers Recommendations on Cybersecurity

31/10/2021

The Cyber Security Advisory Panel said security awareness and competency in the blockchain space are “not where they needed to be”.