Anti-Money Laundering

New Zealand to Update AML/CFT Regulations

14/07/2021

Reporting entities will have to conduct customer due diligence on nominee directors and nominee general partners of companies, among other changes.

Emerging Prudential Risks

New Standard Published to Assess Islamic Deposit Insurance Systems

14/07/2021

The IADI and IFSB have developed a set of core principles that can be used to develop and assess the effectiveness of Islamic deposit insurance systems.

Fraud, Scams & Cybercrime

Malaysia Files Suit Against KPMG Partners Over 1MDB Losses

13/07/2021

The Malaysian government and 1MDB filed a $5.64bn lawsuit against 44 current and former KPMG partners over the firm’s audits of 1MDB’s financial statements.

Trading & Investment

HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation

13/07/2021

Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.

CBDCs

Multilateral Collaboration Essential for CBDC Development

13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

Climate Risk

International Organisations to Launch Climate Training Alliance

12/07/2021

The initiative will see the establishment of a dedicated online portal for global training on climate risks for central banks and supervisors.

Credit Risk

RBI Penalises Fourteen Banks Over NBFC Lending

12/07/2021

The banks include Credit Suisse, Central Bank of India, SBI, Bank of Baroda, Bank of Maharashtra, IndusInd Bank, and Indian Bank, among others.

Trading & Investment

Korean Won Futures Set for Launch on Eurex-KRX Link

12/07/2021

The listing of USD/KRW Futures on the KRX-Eurex link will allow for continuous trading during Asian, European and North American market hours.

Structural Regulation

SEBI Proposes Tweaks to Dual Class Shares Framework

12/07/2021

SEBI proposes to allow superior voting rights shares to be issued to trusts and other corporate structures and to tweak other requirements.